economic recovery – Oil & Gas 360

Oil falls as China’s economic recovery disappoints, dollar strengthens

January 17, 2024

CNBC Oil fell more than $1 on Wednesday as economic growth in China, the world’s second-largest crude user, slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite. Brent crude futures fell $1.23, or 1.57%, to $77.06 per barrel. U.S. West Texas Intermediate crude futures (WTI) were down 92 cents, or 1.27%, at $71.48. Even the ongoing

High oil prices pose high risk to economic recovery, IEA says

July 13, 2022

World Oil (Bloomberg) — Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said. The Paris-based adviser trimmed forecasts for oil consumption this year and next amid growing fears of a recession, warning that prices threaten stability in emerging

Oil rises on economic recovery hopes, weaker dollar

September 2, 2021

Reuters LONDON -Oil prices rose more than $1 on Thursday, supported by optimism about the pace of the economic recovery from the pandemic, a sharp decline in U.S. crude stocks and a weaker dollar. Brent crude was up $1.25, or 1.8%, at $72.84 a barrel by 1341 GMT and West Texas Intermediate (WTI) crude rose $1.39, or 2%, to $69.98.

Dallas Fed President Kaplan stresses need for more spending to keep economic recovery going

February 2, 2021

CNBC Dallas Federal Reserve President Robert Kaplan in a CNBC interview Tuesday backed more spending across a variety of fronts as the economy tries to shake off the Covid-19 pandemic effects. President Joe Biden has proposed spending $1.9 trillion to provide more cash payouts and enhanced unemployment benefits to Americans, as well as a minimum wage hike, funding for vaccine programs and

Oil rises on signs of economic recovery, but new infections loom

July 1, 2020

Reuters LONDON – Oil prices rose on Wednesday on a string of positive manufacturing data and a drawdown in U.S. crude inventories, both indicating an economic recovery, however, fears of surging coronavirus infections capped the gains. Brent crude LCOc1 was up 67 cents, or 1.6%, at $41.94 a barrel at 1336 GMT, and U.S. crude was up 71 cents, or

Trump to sign order giving agencies emergency powers to fast-track energy projects: sources- oil and gas 360

Trump to sign order giving agencies emergency powers to fast-track energy projects:-updated

June 4, 2020

Reuters WASHINGTON – President Donald Trump on Thursday is expected to sign an executive order that would let federal agencies use emergency powers to fast track major energy infrastructure projects by overriding environmental permitting requirements, two sources familiar with the proposal said. The order is billed as a way to “support and accelerate” the U.S. economic recovery from the impacts

U.S. Jobs – Where is the Recovery?

October 7, 2016

Where are the new jobs that accompany a robust economy? According to the U.S. government’s Bureau of Labor Statistics’ job numbers released today, in September 7.9 million people were unemployed, which is 5% of 158 million people with jobs in the U.S. workforce. Digging a little bit into the government’s employment/unemployment numbers adds color to the report. U-3: the official unemployment

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