Former Energy Secretary Spencer Abraham notes how rise in U.S. output, reaction by OPEC, contrast sharply with previous cycles.
The move, or lack thereof, could mean continued pressure on oil prices—at least for the first-half of the year, analysts say.
While an enormous supply growth from the U.S., compounded by a massive competitive surge from OPEC, have been primary culprits behind the oil-price collapse little attention has been given to the demand side of the equation.
How is buying gasoline like voting? The price of one usually predicts the outcome of the other, according to a leading Washington, D.C., policy strategist.
There is growing sentiment that the market has decided enough is enough and decided to set a floor for crude prices.
Commodity prices continue to stutter with modest improvements, though a warm summer could spur a stronger back end of the year.
WTI prices improved this week after hitting a 12-year low, but challenges remain as Iranian crude re-enters the global market.
Prices continue to search for a bottom even as heating demand increases.
Firm transportation capacity can be acquired under minimum 10-year term agreements on the Howard Lateral and the Wolfcamp Connector expansion.
Crude delivered to the nearby Little Muddy interconnect will ship to various downstream markets including Chicago and Patoka, Ill., Cushing, Okla., eastern Canada and the U.S. Gulf Coast.
Rebel groups, the Revolutionary Armed Forces of Colombia (FARC) and National Liberation Army (ELN), have often targeted oil infrastructure, bombing pipelines and trucks carrying crude oil, Reuters said.
The Paris-based IEA trimmed its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015.
Key North American Hub Prices: Feb. 10, 2016
ConocoPhillips last received an export license from the federal government for the Kenai plant in April 2014. It also authorized the company to export about 40 Bcf of gas over a two-year period.
Key North American Hub Prices: Feb. 9, 2016
Consumption will rise in 2016 and 2017 as industrial demand increases as new fertilizer and chemical plants enter service, Reuters said. Low gas prices and declining rig activity will begin affecting output.
The new facilities will receive sweet natural gas, remove water and hydrocarbons, chill and compress the gas to meet transmission pipeline requirements and recover NGL from the gas streams.
Hearing board of South Coast Air Quality Management District scheduled a fourth meeting for Jan. 23 to take more testimony on plan to siphon off and incinerate methane, Reuters said.
Environmental groups noted Obama's pledge comes as his administration works on a new five-year plan for offshore oil and gas leases.
The approved export point is at the outlet of the loading arm of the natural gas liquefaction terminal that will be built near Kitimat, British Columbia.
Facility stores more than 6 million barrels of gasoline, ethanol, middle distillates, biodiesel, kerosene and LPG. Terminal assets are on the North Sea Canal in Amsterdam, Rotterdam and Antwerp region.
Petrochemicals diversification program will support construction of new facilities that use propane or methane as feedstock to produce materials for products including plastics, detergents and textiles, Reuters said.
About 160 former BP employees were included as part of the roughly-$350 million transaction. KMI will operate and market 14 of the terminals, which the joint venture will own.
The 51% stake will go to Malaysia Hengyuan International Ltd., a unit of China's Shandong Hengyuan Petrochemical Co. Shareholders will hold remaining shares, Reuters said.