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February 27, 2018

Fed Chair Sees Gradual Rate Hikes Amid Strong U.S. Growth Outlook

February 27, 2018

From Fortune Federal Reserve Chairman Jerome Powell said the central bank can continue gradually raising interest rates as the outlook for growth remains strong, and the recent bout of financial volatility shouldn’t weigh on the U.S. economy. “Some of the headwinds the U.S. economy faced in previous years have turned into tailwinds,” Powell said in written testimony to the House

U.S. to Overtake Russia as Top Oil Producer by 2019 at Latest: IEA

February 27, 2018

From Reuters The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country’s shale oil boom continues to upend global markets. IEA Executive Director Fatih Birol said at an event in Tokyo the United States would overtake Russia as the biggest crude oil

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

OPEC, Russia Seen Beating Expectations on Oil Production Cuts

February 27, 2018

From Bloomberg OPEC’s Control of the Oil Market Is Running on Fumes OPEC, Russia and other oil producers participating in output cuts have beaten market expectations in meeting their commitments, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. The 24 countries that agreed to cut 1.8 million barrels of output a day beginning last year are committed to

Global Oil Production Represented at 2019 EnerCom Conference is 47% Higher than in 2017 - Oil & Gas 360

`Explosive’ Shale Growth Threatens Supply Cuts

February 27, 2018

From Bloomberg U.S. supply rise seen as risk factor in market rebalance: IEA Crude dropped the most in more than two weeks as the International Energy Agency warned about seemingly unstoppable U.S. shale production. Futures in New York fell 1.4 percent on Tuesday after IEA Executive Director Fatih Birol said “explosive growth” in U.S. output may extend beyond this year. Investors were

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