Oil Price (Bloomberg) – Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman talked on OPEC+ cooperation by phone, the Kremlin said. The two leaders “gave high praise to the level of cooperation within the OPEC+ that allows to make timely and effective steps to maintain the balance of oil supply and demand,” according to a statement late
World Oil (WO) – Weatherford International plc has been awarded a three-year contract with Aramco to deliver drilling services. Under the contract, Weatherford will deploy its Drilling Services portfolio, which includes a suite of technology that combines world-class services, real-time information analysis, and innovative drilling tools to maximize efficiency in any environment. Deploying these services and technology offerings will add
Nasdaq HOUSTON – Global demand for crude oil is continuing to rise but supply growth remains limited and will lead to higher prices later this year, a Pioneer Natural Resources PXD.N executive said on Thursday. The impact of recessionary fears on global crude oil also will be offset by stronger Chinese demand, Pioneer Executive Vice President Beth McDonald said at the RBN Energy crude
Yahoo Finance LONDON – Oil prices rose on Thursday as tighter supply resulting from Saudi Arabia’s pledged production cut and a potential pause to U.S. interest rate hikes offset worries over demand weakness and a global economic slowdown. At an OPEC+ meeting on Sunday, Saudi Arabia said it will cut its crude output by 1 million barrels per day (bpd)
Natural Gas Inventories as of June 2, 2023 The EIA has released its natural gas inventory report, showing a net increase of 104 Bcf as of June 2, 2023. Working gas in storage was 2,550 Bcf as of Friday, June 2, 2023, according to EIA estimates. This represents a net increase of 104 Bcf from the previous week. Stocks were
2023-06-08 07:55:51 ET Increased demand for oil and the recent production cuts are antici…
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