Oil and Gas Prices
News
May 27, 2022
The Group of Seven urged OPEC to pump more oil, even as it made new pledges to try to fight climate change.
Article
May 2022
Despite restricted Russian supply, due to the war in Ukraine, crude prices slipped in April. WTI dropped 6.2% to $101.78/bbl, with Brent trading at $101.78/bbl, down 13.2% compared to March. Despite lower prices, U.S. operators finally started ramping up drilling activity, which is typically the case in a high-price environment.
Article
May 2022
The dire predictions by executives and consulting firms about the short-term/long-term effects of Covid-19 on the industry were overwhelming. The unrelenting onslaught of “we will never recover” or “nothing will ever be the same” seemed short-sighted.
News
May 23, 2022
Oil eased off earlier gains with the European Union’s ban of Russian oil looking increasingly unlikely to pass.
News
May 19, 2022
Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak.
News
May 17, 2022
Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies.
News
May 16, 2022
Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged in the wake of Russia’s invasion of Ukraine.
News
May 15, 2022
Oil climbed, bookending another tumultuous week of trading, as investors weighed the prospect of a European Union ban on Russian crude and uncertainty over China’s virus resurgence.
News
May 12, 2022
Saudi Aramco overtook Apple Inc. as the world’s most valuable company, stoked by a surge in oil prices that is buoying the crude producer while adding to an inflation surge throttling demand for technology stocks.
News
May 10, 2022
Equinor ASA sold assets in the North Sea for $1 billion as it seeks to benefit from high oil prices and redirect proceeds to other core businesses.
News
May 09, 2022
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years.
News
May 04, 2022
The OPEC cartel – which has struggled for many months to revive oil supplies halted during the pandemic – effectively failed to increase output at all in April as members remained plagued by capacity constraints.
News
May 04, 2022
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows.
News
April 29, 2022
Chevron Corp. lifted its production target in North America’s biggest oil field in a sign that U.S. shale is responding to $100-a-barrel crude despite rising cost pressures and equipment shortages.
Article
April 2022
Compared to fourth-quarter 2021, the Dallas Fed’s survey found that U.S. E&P activity surged in first-quarter 2022. However, there are still a few question marks that will linger through the year.
Article
April 2022
Despite WTI surging to an 11-year high of $108.50/bbl in March, U.S. shale operators resisted ramping-up drilling activity and remained disciplined with capital expenditures.
News
April 28, 2022
Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said.
News
April 26, 2022
Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting.
News
April 25, 2022
Oil dropped at the start of the week on concerns that a spreading Covid-19 outbreak in China will impact consumption even further.
News
April 22, 2022
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay.
News
April 21, 2022
Mexico’s state-owned oil giant Petroleos Mexicanos will resume paying its debt maturities this year, ending a government policy of covering its amortizations to help the beleaguered driller shore up its finances, according to a Finance Ministry official.
