Oil Price A resilient global economy early this year has additional upside potential in the second half with the possible easing of monetary policies, OPEC said on Tuesday, keeping its 2024 and 2025 outlook of robust oil demand unchanged from last month. In its closely-watched Monthly Oil Market Report (MOMR) out today, OPEC maintained its forecast from the April report, which sees
Nasdaq LONDON – OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, and further raised its economic growth forecast for this year saying there was more room for improvement. The Organization of the Petroleum Exporting Countries said in a monthly report that world oil demand will rise by 2.25 million
Oil Price OPEC kept on Wednesday its oil demand growth forecasts for this year and next, citing better-than-expected economic performance so far this year and blaming “exaggerated concerns about oil demand growth” for the recent slump in oil prices. In its closely-watched Monthly Oil Market Report (MOMR) out on Wednesday, OPEC kept its forecast for world oil demand growth in 2023 unchanged
CNBC The economy regained nearly 4 million jobs during the quarter, and that was after 7.5 million in May and June. Housing sales and builder confidence has been remarkable, and shoppers easily outpaced expectations in September with retail sales rising 1.9%, nearly tripling the Wall Street estimate. Moreover, corporate executives remain confident. The Conference Board’s CEO Confidence index, a gauge that measures the
CNBC The Federal Reserve held interest rates steady in a decision announced Wednesday that came along with a tepid outlook on the coronavirus-plagued economy. In a move widely expected, the central bank kept its benchmark overnight lending rate anchored near zero, where it has been since March 15 in the early days of the pandemic. Along with keeping rates low, the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Train 1 of Sempra’s Cameron LNG project commences commercial operations Sempra LNG, a subsidiary of San Diego-based Sempra Energy (stock ticker: SRE), has begun commercial operations under tolling agreements at Train 1 of its Cameron LNG liquefaction-export project in Hackberry, Louisiana. Previously, Sempra’s Cameron LNG facility had shipped its first commissioning
$1.3 trillion private investment in oil and gas infrastructure could add almost $2 trillion to U.S. GDP By 2035, if the right regulatory policies are in place, private investment could exceed $1.3 trillion for oil and natural gas infrastructure, and create more than one million jobs, according to American Petroleum Institute VP of Regulatory and Economic Policy Kyle Isakower. Isakower’s comments
$22 million lease covers 56 million tons of coal in central Utah U.S. Department of the Interior Secretary Ryan Zinke announced the approval of a $22 million coal lease this week. The lease, located on the Greens Hollow tract in central Utah, was issued by the DOI to Canyon Fuel Company, LLC, a subsidiary of Bowie Resource Partners, LLC. On
In spite of reaching only 0.7% in fourth quarter of 2015 The U.S. Bureau of Economic Analysis released the growth numbers for the U.S. economy for fourth quarter, and full-year, 2015. According to the BEA, economic growth was just 0.7% in the fourth quarter of the year, as business investment slowed down. Better employment numbers have helped improve the housing
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