November 17, 2022 – Oil & Gas 360

Strive Asset Management exceeds half a billion in AUM, 3 months after launch

November 17, 2022

Oil and Gas 360 COLUMBUS, Ohio-November 15, 2022 01:00 PM Eastern Standard Time–(BUSINESS WIRE)–Strive Asset Management announced its total assets under management surpassed $500 million on November 11, 2022, three months after the launch of its first fund. Strive’s index funds are nearly identical to those offered by other large asset managers. The difference is the message Strive delivers to the

White House asks Congress for $500 mln to modernize oil reserve

November 17, 2022

Investing WASHINGTON – The Biden administration has asked Congress for $500 million to modernize the U.S. strategic petroleum reserve (SPR), a document outlining the request shows. If approved by Congress, the request, issued by the White House on Tuesday, provides the Department of Energy (DOE) with funding to improve the four SPR sites along the Texas and Louisiana coasts. President

World oil demand topped pre-Covid levels in September

November 17, 2022

World Oil Oil demand worldwide rose in September to exceed the September 2019 pre-Covid levels by nearly 1 million barrels per day (bpd), new data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Global oil demand rose seasonally in September to the second-highest level of this year, according to the JODI data shared by the Riyadh-based International Energy Forum (IEF).

Diamondback Energy, Inc. announces northern Midland Basin acquisition

November 17, 2022

Oil and Gas 360 MIDLAND, Texas, Nov. 16, 2022 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire all leasehold interest and related assets of Lario Permian, LLC, a wholly owned subsidiary of Lario Oil & Gas Company, and certain associated sellers (collectively “Lario”) in exchange for 4.18 million shares

U.S. diesel inventories hit historic lows at the worst possible time

November 17, 2022

Oil Price U.S. distillate stocks, which include diesel and heating oil, have slumped to their lowest level for this time of the year since 1951, just as the heating season starts and the EU embargo on Russian oil product imports kicks in in February. Despite a small build in America’s distillate inventories last week, the levels are still at

Weekly Gas Storage: Inventories increase by 55 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 64 Bcf

November 17, 2022

Natural Gas Inventories as of November 11, 2022 The EIA has released its natural gas inventory report, showing a net increase of 64 Bcf as of November 11, 2022. Working gas in storage was 3,644 Bcf as of Friday, November 11, 2022, according to EIA estimates. This represents a net increase of 64 Bcf from the previous week. Stocks were

OPEC ready to intervene “For the benefit of oil markets”

November 17, 2022

Oil Price OPEC Secretary General Haitham al-Ghais said on Wednesday that the organization is ready to “intervene for the benefit of oil markets”, Saudi-owned Al-Arabiya TV reports, citing Ghais as saying that OPEC is aware, cautious and monitoring economic developments worldwide. In early October, OPEC+ announced plans to reduce oil production by 2 mb/d in November 2022 from the August 2022 required

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