Industry Trends ///

EIA: China is a key destination for increasing U.S. energy exports

In recent years, as its domestic energy consumption has grown, China has become a more significant destination for U.S. energy exports. In particular, China has been among the largest importers of U.S. exports of crude oil, propane, and liquefied natural gas.

OPEC says it's doing best to supply market, but won't overdo it

OPEC and its allies are doing what they can to offset crude output shortfalls that have kept global supplies tight and prices high, but they don’t want to overdo it.

U.S. allies starved of Iran oil even before Trump's deadline

Iranian oil shipments to some U.S. allies are being threatened even before America’s Nov. 4 deadline for buyers to curb imports and comply with renewed sanctions on the OPEC member.

Worthless just two years ago, West Texas sand now brings in billions

Standing high on top of a windswept dune in the West Texas plains, Greg Edwards stares out into a vast ocean of sand.

U.S. oil could soon help set the Brent crude price

S&P Global Platts, the company that sets the key price of Brent crude, is contemplating the eventual incorporation of U.S. oil to help calculate one of its newest European benchmarks, a sign of just how much America’s booming exports are reshaping global energy trading.

Oil exploration expands in U.S. with crude reaching $75

Oil explorers deployed more rigs in the U.S. this week as crude prices breached $75/bbl for the first time since 2014.

There are fears about an oil spike above $150

Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein & Co.

Trade tensions loom over world’s fastest-growing fossil fuel

The world’s fastest growing fossil fuel is bracing for a direct hit from increasing global trade tensions.

Tehran taunts Trump, telling him his tweets drive up oil prices

The Islamic Republic’s OPEC governor, Hossein Kazempour Ardebili, said tweets by Iran’s nemesis in the White House are backfiring, by sending prices higher, and undermining U.S. allies.

Russian oil faces next challenge now that OPEC deal is complete

Russia’s deal with OPEC on crude supply is starting to look straightforward -- when compared with looming decisions on how taxes will be levied on the nation’s oil industry into the next decade.

Mexico oil hedge expected to continue with president-elect, adviser says

Mexico’s new government will probably continue hedging the country’s oil output in what is the world’s largest annual oil deal, according to an economic adviser to president-elect Andres Manuel Lopez Obrador.

Pakistani envoy says boosting U.S. gas imports key to trade ties

Pakistan Ambassador Ali Jehangir Siddiqui said importing more U.S. natural gas is key to diversifying his nation’s energy supply while expanding trade relations.

Mexico's oil reforms expected to slow down with new government

The election of Mexico’s first left-wing president in recent decades is expected to slow the country’s march toward the creation of a private oil market, though not derail it.

Saudi, Russia reaffirm OPEC deal of MM-bbl oil boost

Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 MMbpd.

Saudis weigh lure of higher oil prices as U.S. asks for more

Saudi Arabia will have to navigate a particularly delicate balance between chasing buyers and charging more for its crude when setting monthly prices for its biggest customers this week.

Cooler Atlantic may dash oil bulls' hopes this hurricane season

Energy and agricultural market bulls: Beware of a cooler Atlantic Ocean.

Saudis' biggest oil surge in five years barely steadies OPEC output

Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses elsewhere in the group piled up.

Oil falls from three-year high as Trump pushes Saudis to pump more

Oil fell from the highest level in three years after President Trump piled pressure on Saudi Arabia to increase output and tame prices.

India hunting for shorter LNG deals with import demand doubling

The good news for global natural gas exporters is that India’s largest utility is hunting for new supplies to import. The bad: It’s seeking shorter deals than have been traditional in the past.

South Africa halts oil exploration permits to revamp licensing

South Africa’s Department of Mineral Resources has issued a moratorium on new applications for petroleum exploration and development in order to change its licensing process.