World Oil (Bloomberg) – Matador Resources Co. pumped more oil than expected in the first three months of 2024 at a time when most U.S. producers have pledged flat to moderate production growth this year. Matador also plans to hit the high end of its full-year output expectations, the Dallas-based company said in its earnings report Tuesday. The company’s production
Oil Price As well productivity in the U.S. shale patch has declined in the past two years, producers are looking to deploy new technology to reverse these declines, but small companies often cannot afford the high upfront costs, industry executives and analysts have told Reuters. While shale production pushed U.S. crude oil output to record highs in recent months to above
World Oil (Bloomberg) – OPEC pledged to help Namibia become a significant crude producer, widening a path for the southern African nation to join the group. “We are excited about the potential of the Namibia-OPEC partnership and stand ready to offer support at this crucial juncture,” OPEC Secretary-General Haitham Al Ghais said in a pre-recorded message broadcast at a conference
Oil Price Oil companies planning to ship crude on the expanded Trans Mountain pipeline in Canada are concerned that the project may not begin full service on May 1 but they would be nevertheless obligated to pay tolls from that date. In a letter to the Canada Energy Regulator (CER), Suncor Energy and other shippers including BP and Marathon Petroleum
World Oil (Bloomberg) – The International Monetary Fund expects OPEC and its partners to start increasing oil production gradually from July, a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year. “We are assuming the full reversal of cuts is happening at the beginning of 2025,” Amine Mati, the lender’s mission
US News LONDON – Brent crude oil prices steadied around $88 a barrel on Wednesday after rallying in the previous session on a surprise fall in U.S. crude stocks and a drop in business activity in the world’s largest oil consumer. Brent crude futures were down 35 cents, or 0.4%, to $88.07 a barrel by 1315 GMT, while U.S. West
Weekly Crude Oil Storage as of April 19, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.4 million barrels from the previous week. At 453.6 million barrels, U.S. crude oil inventories are 3% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
