Oil and Gas 360 “First imperceptible, then unstoppable.” The risk of parallel trading systems that bypass the U.S. petrodollar continues to grow from BRICS’ (Brazil, Russia, Iran, China, South Africa) machinations. This new “axis of oil” produces about 40% of crude oil production and comprises nearly half the world’s population. Integrating global oil and gas markets into
World Oil (Bloomberg) – Matador Resources Co. plans to pump more oil in 2024 than it originally expected, a sign that wells in the western section of the Permian basin – the most prolific U.S. oil field – are surprising drillers to the upside and bolstering national supply. Through the first six months of the year Matador has already surpassed
Oil Price U.S. natural gas-fired power generation jumped this week amid the lowest wind power output in 33 months seen on Monday while demand for cooling is rising in the summer. On July 22, wind power output in the Lower 48 states was at its lowest level in the country since October 4, 2021, per preliminary data from the U.S.
World Oil (Bloomberg) – Prices for natural gas would “skyrocket” if fracing was banned. That’s according to Toby Rice, chief executive officer of shale driller EQT Corp., marking one of the first prominent voices in the fossil fuel industry to comment on the election after President Joe Biden said he would end his candidacy. “It would actually be constructive for
Natural Gas Inventories as of July 19, 2024 The EIA has released its natural gas inventory report, showing a net increase of 22 Bcf as of July 19, 2024. Working gas in storage was 3,231 Bcf as of Friday, July 19, 2024, according to EIA estimates. This represents a net increase of 22 Bcf from the previous week. Stocks were
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