
FROM THE OIL PATCH
Oil and gas industry needs to let go of carbon capture as solution to climate change, IEA says
The oil and gas industry needs to let go of the “illusion” that carbon capture technology is a solution to climate change and invest more
U.S. crude oil declines after OPEC delays meeting
U.S. crude prices declined Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. The West Texas
‘Unstoppable’ energy transition means demand for oil, gas, and coal set to peak by 2030
Global demand for oil, natural gas and coal — and the carbon pollution they generate — are expected to peak later this decade, according to a new report by the International Energy Agency. Driving the shift will be the “phenomenal rise” of clean sources of energy, the Paris-based agency said in its
Oil price spikes on Israel war. Here’s what a wider conflict might mean
Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations. Global energy markets have been on a rollercoaster in recent weeks. Following months of rising prices — driven mostly by production cuts by Saudi Arabia and Russia
Gas prices could fall further as oil drops 4% on OPEC meeting delay
Oil prices tumbled more than 4% Wednesday after a group of the biggest oil producing nations said they would delay a meeting, originally scheduled for Sunday, that was expected to discuss making further cuts to global supply. Brent crude, the global benchmark, and West Texas Intermediate (WTI) crude, the US
Germany, Poland take over natural gas firms tied to Russia
Germany and Poland announced separate takeovers of natural gas companies that had links to Russian energy giant Gazprom on Monday, saying the moves were aimed at securing supply as Europe struggles with an energy crisis tied to the war in Ukraine. Germany said it is nationalizing the former German subsidiary of Gazprom months
CRUDE OIL WEEKLY UPDATE (Week Ending 11-24-23)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.5 million barrels per day during the week ending November 17, 2023, which was 106
NATURAL GAS WEEKLY UPDATE (Week Ending 11-24-23)
In the News (EIA): NOTE: Next EIA release is scheduled for November, 30, 2023
Zekelman Industries Steel Snapshot for November 2023
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts November HR Coil $900 up $185 from Oct. UAW and auto Big 3 have tentative
Preston Pipe Report – October 2023
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Navigator CO2 Ventures has cancelled its Heartland Greenway pipeline project aimed at capturing 15 million
Argus Pipe Logix Line Pipe Report – October 2023
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Navigator CO2 Ventures has cancelled its Heartland Greenway pipeline project aimed at capturing 15 million
AISI Press Release on Latest U.S. Imports of Steel Products – November 2023
American Iron and Steel Institute, www.steel.org – (11-08-23) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron