News

Crude Oil

Global Oil Market To Face Surplus As Demand Growth Slows, IEA Says

In its monthly report, the IEA cut its forecast for non-OECD demand growth, the engine of expansion in world oil consumption.

Reuters

Construction

TransCanada: Impact Of US Court Ruling On Keystone XL Timing Unclear

TransCanada remains "fully committed" to the Keystone XL pipeline as it reviews a recent decision by a Montana judge to block construction of the $8 billion project, a company executive says.

Reuters

Crude Oil

US Shale Oil Production To Hit Record High In December, EIA Says

The total oil production from the seven major shale basins in the U.S. was expected to rise 113,000 bbl/d, driven largely by increases in the Permian Basin, the EIA said.

Reuters

Crude Oil

Global Oil Demand Under Growing Threat From Electric Cars, Cleaner Fuel

The IEA’s central scenario is for demand to grow by about 1 million barrels per day (MMbbl/d) on average every year to 2025, before settling at a steadier rate of 250,000 bbl/d to 2040 when it will peak at 106.3 MMbbl/d.

Reuters

Crude Oil

Risking Trump Ire, OPEC Builds Case For Oil Production Cuts

Worried by a drop in oil prices and rising supplies, OPEC is talking again of reducing production just months after increasing it despite urges by U.S. President Donald Trump not to cut supply.

Reuters

Natural Gas

IEA: Gas To Overtake Coal As World’s Second Largest Energy Source By 2030

The Paris-based IEA said in its World Energy Outlook 2018 that energy demand would grow by more than a quarter between 2017 and 2040 assuming more efficient use of energy but would rise by twice that much without such improvements.

Reuters

Crude Oil

Oil Majors Spending ‘Sweet Spot’ To Last To 2020

Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, said asset manager BlackRock.

Reuters

Acquisitions & Divestitures

NGL Energy Partners Sells Bakken Water Operations To Tallgrass For $91 Million

As a result of the sale to Tallgrass, NGL Energy Partners will exit the Bakken saltwater disposal business as the company shifts its focus elsewhere, primarily to the Permian Basin.

LNG

First US LNG Cargo Since Trade Tariff Enacted Arrives In China

A LNG cargo from the U.S. has arrived in China, the first such cargo since Beijing imposed a tariff on U.S. imports, shipping data from Refinitiv Eikon showed on Nov. 12.

Reuters

Crude Oil

North Dakota Oil Prices Set To Weaken Further Amid Pipe, Rail Constraints

Takeaway capacity cannot keep up with rising production and rail loadings will likely diminish in the winter.

Reuters

Natural Gas

China Overtakes Japan As World's Top Natural Gas Importer

China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.

Reuters

Crude Oil

Oil Gains After Saudi Paves Way For Output Cut

Oil rose by more than 1% on Nov. 12, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening.

Reuters

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