Oil Price Canadian crude exported from the U.S. Gulf Coast in June clocked in at 1500,000 barrels per day, only slightly lower than average despite the commissioning of the expanded 590,000 b/d Trans Mountain pipeline (TMX) in May. TMX has the potential to cut shipments from the U.S. Gulf Coast to India, China, and South Korea if more oil from Canada’s West
Yahoo Finance Trinidad and Tobago’s High Court reaffirmed on Thursday a decision recognizing U.S. oil producer ConocoPhillips’ arbitration claim against Venezuela, which could freeze the Caribbean country’s payments to its neighbor for joint natural gas projects. In late May, the court’s original decision opened the door for ConocoPhillips to enforce in that country a $1.33 billion claim against Venezuela for
Oil Price Economic growth, higher demand for cooling amid heat waves, the rapid rise of data centers, and continued electrification are set to push the growth in global electricity demand to one of the highest paces in the past 20 years in 2024 and 2025, the International Energy Agency (IEA) said on Friday. Electricity demand is set for growth of about 4%
U.S. News HOUSTON – Top U.S. oilfield service firms SLB and Halliburton posted higher quarterly profits on Friday helped by strong global demand, but they warned of softer activity in North America for the second half of this year. Oilfield service providers have in recent quarters bet on growth overseas, particularly in the Middle East and Asia, as well as
World Oil (Bloomberg) – A flareup of wildfires in Alberta is threatening as much as half a million bpd of oil sands production, with MEG Energy Corp becoming the latest company to evacuate workers. About 500,000 bpd of marketable oil sands production could be within 10 km (6.2 miles) of an out-of-control blaze, Rystad Energy said in a report Thursday.
Yahoo Finance NEW YORK – Oil prices steadied on Thursday as investors wrestled with mixed signals about crude demand, with concerns about an economic slowdown in the U.S. contending with rising expectations the Federal Reserve would soon cut interest rates. Brent futures settled at $85.11 a barrel, rising 3 cents, while U.S. West Texas Intermediate (WTI) crude fell 3 cents
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