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Us Output

All articles tagged with #us output

energy2 years ago

Oil Prices Surge as US Output Hits Record High

Brent crude oil prices remained steady near $80 a barrel as concerns over higher inventories and record output in the United States outweighed worries about global trade disruptions in the Red Sea. The US Energy Information Administration reported a rise in US crude inventories and record output, dampening market sentiment. While major maritime carriers are avoiding the Red Sea route, the impact on oil supply has been limited so far as most Middle East crude is exported through the Strait of Hormuz. The redirection of vessels around South Africa's Cape of Good Hope may increase transport and insurance costs, potentially fueling global inflation.

via Reuters|
#brent-crude#energy#global-trade-disruptions
energy2 years ago

"Transatlantic Resilience Signals Peak Oil on the Horizon Amidst Falling Demand and Inventory Build"

Brent crude oil prices remained steady near $80 a barrel as concerns over higher inventories and record output in the United States outweighed worries about global trade disruptions in the Red Sea. The US Energy Information Administration reported a rise in US crude inventories and record output, dampening market sentiment. While major maritime carriers are avoiding the Red Sea route, the impact on oil supply has been limited so far as most Middle East crude is exported through the Strait of Hormuz. The redirection of vessels around South Africa's Cape of Good Hope may increase transport and insurance costs, potentially fueling global inflation.

via Reuters|
#brent-crude#energy#global-trade-disruptions
energy2 years ago

The Impact of OPEC Output Cuts on Falling Oil Prices

Analysts and traders believe that OPEC's 2.2 million barrel-per-day production cuts in the first quarter of 2024 may have no effect on oil prices unless extended further, as there is a potential supply surplus. The short-term voluntary output cut agreement is seen as insufficient to make a meaningful difference in physical supply, and American shale producers are now less vulnerable to OPEC's decisions due to consolidation.

via OilPrice.com|
#energy#oil-prices#opec
energy2 years ago

Oil Prices Plummet as US Output Surpasses OPEC, Hitting Lowest Level Since June

Crude oil prices, including Brent crude and West Texas Intermediate, dropped nearly 4% due to concerns over lagging demand and an unexpected increase in US gasoline inventories. The prices reflect the lowest levels since June this year, with US benchmark oil prices down almost 20% in the fourth quarter. The focus remains on US production, which continues to compete with OPEC+ for market price influence. Weak economic data from China also suggests weak demand, further weighing on crude prices.

via OilPrice.com|
#crude-oil#demand#energy
energy2 years ago

Natural Gas Prices Fluctuate Amidst Demand Uncertainty

The price of natural gas has collapsed over the last year due to a decrease in demand and an increase in production. However, there are signs that this trend may be changing as demand starts to pick up and storage becomes a problem. Despite the Biden administration's verbal attacks on fossil fuels, market forces have continued to drive US natural gas output to record levels in 2022.

via OilPrice.com|
#biden-administration#energy#energy-market