The build in U.S. crude stocks fed recent selling in the oil market, which has also been happening in tandem with a broader sell-off across global equity and bond markets.
The EIA also expected oil production in 2019 to grow more quickly than previously forecast, rising 1.02 million bbl/d to 11.76 million bbl/d.
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Russia and Saudi Arabia struck a private deal in September to raise oil output, Reuters reported on Oct. 3, before consulting with other producers including the rest of OPEC.
Crude prices dropped notably on the news from the EIA of a surprise surge in U.S. crude oil stockpiles before rebounding a bit.
The NAFTA deal would boost oil prices because it "increases the growth prospects not only for Canada and the U.S. but for North America as a whole," says Price Futures Group analyst Phil Flynn.
Oil prices held relatively steady following the data, which have been on the rise of late due to swifter-than-expected declines in Iranian exports and notable declines in U.S. crude inventories.
White House national security adviser John Bolton on Sept. 25 dismissed an EU plan for a special payments plan to circumvent U.S. sanctions against Iranian oil sales and pressed the SWIFT global payments messaging system to rethink dealing with Tehran.
Plug-ins could help integrate renewables through demand response-enabled charging
The phasing out of the Federal Production Tax Credit will mean a decline in new wind projects and increased operating and maintenance on older assets.