FROM THE OIL PATCH
Can California’s gas car ban survive Trump?
California wants to bid adieu to new gasoline-powered cars by 2035. The Biden administration is expected to grant the state’s request this week, a source
Oil and gas industry coalition calls for urgent reforms to unleash American energy
A coalition of oil and gas trade associations, representing over 80% of U.S. domestic production, has issued an urgent call to House Speaker Mike Johnson
OPEC makes fifth and biggest cut to 2024 oil demand growth forecast
OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China’s sputtering role as the world’s demand growth engine. The weaker outlook underlines the challenge facing OPEC+, which comprises the Organization of
USA EIA Cuts WTI Oil Price Forecasts
In its latest short term energy outlook (STEO), which was released recently, the U.S. Energy Information Administration (EIA) lowered its West Texas Intermediate (WTI) spot price forecasts for this year and next year. According to its December STEO, the EIA now sees the WTI spot price averaging $76.51 per barrel
What to Watch in Oil in 2025
A release sent to Rigzone recently by the Rystad Energy team, which included analysis from several company representatives, highlighted multiple “significant trends that will shape the energy world in the coming year” . One of those trends is that “geopolitical uncertainty will persist in 2025”, the release outlined. That trend
Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
Phillips 66 said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California’s fuel supply amid complaints about the state’s high prices. Phillips 66 CEO Mark Lashier cited “market dynamics” for the decision. The Los Angeles facility provides lower profits than other oil
CRUDE OIL WEEKLY UPDATE (Week Ending 01-10-25)
Crude Oil Summary (EIA) U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending January 3, 2025, which was 44
NATURAL GAS WEEKLY UPDATE (Week Ending 01-10-25)
Market Highlights: Prices Henry Hub spot price: The Henry Hub spot price rose 37 cents from $3.39 per million British thermal units (MMBtu) last Wednesday
Zekelman Industries Steel Snapshot for January 2025
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) SMU January HR Coil $690 up $15 from Dec. Nippon’s purchase of USS was rejected by
Preston Pipe Report – December 2024
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Several pipeline projects have received the go ahead from their respective sponsors. These include Energy Transfer’s
Argus Pipe Logix Line Pipe Report – December 2024
(by Rye Druzin, www.pipe-logix.com) US line pipe prices increased this month to $2,282/short ton (st), with domestic price increases outweighing a decline in import prices.
AISI Press Release on Latest U.S. Imports of Steel Products – January 2025
American Iron and Steel Institute, www.steel.org (01-09-25) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and