A U.S. appeals court on Monday gave the Biden administration until Nov. 8 to hold an expanded sale of oil and gas leases in the Gulf of Mexico, the latest development in a legal fight over federal protection of an endangered species of whale.
Despite the fact that U.S. oil producers are now deploying the lowest number of drilling rigs in more than a year and a half, America’s crude oil production is set to hit a monthly record in September—at 13 million barrels per day (bpd), according to estimates by Rystad Energy.
The Biden administration and environmental groups on Friday said they would appeal a Louisiana federal judge’s ruling that ordered an expansion of next week’s sale of oil leases in the Gulf of Mexico.
The total number of active drilling rigs in the United States fell by 11 this week, after seeing a brief 9-rig rise last week, according to new data from Baker Hughes published Friday.
Last week, Brent crude topped $90 per barrel for the first time since last November, and WTI climbed to an 11-month high, too. The reason: Saudi Arabia and Russia said they would extend their oil supply cuts until the end of the year.
LUANDA, September 12, 2023 – The USA and the EU have teamed up to support the Lobito Corridor trade route linking Zambia and Democratic Republic of Congo to Angola’s Port of Lobito, the nations announced at the 2023 G20 New Delhi summit in India on Saturday.
Concern about a seismic change in the U.S. shale industry with shareholder returns prioritized over spending on production has plagued analyst and banker circles for over a year.
U.S. House Speaker Kevin McCarthy has revealed he plans to promote U.S. natural gas exports at an upcoming G7 meeting. McCarthy will frame his agenda in the context of Europe buying more U.S. gas as a way for the continent to wean itself off Russian gas following its war in Ukraine.
Oil prices edged down on Wednesday, extending a 1% drop in the previous session, as worries about China’s struggling economy outweighed declining U.S. stockpiles.
The surprise huge new cut in oil production from ‘OPEC+’ – the Saudi Arabia-led OPEC group of countries ‘plus’ Russia – highlights that any optimism over a possible rapprochement between Saudi Arabia and its previous key superpower ally, the U.S.