The Latest

CERAWeek: US Aims to Return Emergency Oil Reserve to Prior Levels by Year-end

The U.S. is replenishing the SPR, which currently holds about 362 MMbbl, down from 638 MMbbl three years ago before the sale of a record amount of crude. 

CERAWeek: Gunvor Sees Balanced Oil Market, No Tightness in LNG Supplies

The global LNG market is not currently tight, Gunvor Chairman Torbjörn Törnqvist said at CERAWeek, contradicting the view shared earlier in the day by TotalEnergies.

Imperial Oil Shuts Down Fuel Pipeline in Central Canada

Supplies on the Winnipeg regional line will be rerouted for three months.

What's Affecting Oil Prices This Week? (March 18, 2024)

On average, Stratas Advisors predicts that supply will be at a deficit of 840,000 bbl/d during 2024.

Kissler: OPEC+ Likely to Buoy Crude Prices—At Least Somewhat

By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.

EIA: Blame Associated Gas Volumes for Sticky Low NatGas Prices

Low natural gas prices are forcing U.S. producers to finally pump the brakes on what has been record production. But the pullback in drilling will have muted effects on a market already glutted with too much gas, federal experts say.

Tallgrass Energy Announces Latest Open Season for Pony Express Pipeline

Prospective shippers can review details of the open season, which began March 11, after signing a confidentiality agreement with Tallgrass.

US Raises Crude Production Growth Forecast for 2024

U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook. 

Will the Ends Justify the Means for W&T Offshore?

After several acquisitions toward the end of 2023, W&T Offshore executives say the offshore E&P is poised for a bounce-back year in 2024.

What's Affecting Oil Prices This Week? (March 11, 2024)

Stratas Advisors expects oil prices to move higher in the middle of the year, but for the upcoming week, there is no impetus for prices to raise.