FROM THE OIL PATCH
IEA raises oil demand outlook again but still lags OPEC
Summary The International Energy Agency on Thursday raised its view on 2024 oil demand growth for a fourth time since November as Houthi attacks disrupt
M&A activity in 2023 furthers consolidation of U.S. crude oil and natural gas firms
In 2023, crude oil and natural gas exploration and production (E&P) companies increased spending on mergers and acquisitions (M&A) to $234 billion, the most in real
‘Climate Protestors’ Are the Dangerous Know-Nothings of Our Time
From blocking commutes by lying in traffic to vandalizing priceless pieces of art, it seems there’s no conduct too low for the extreme eco left. The latest gambit came from a group called “Climate Defiance,” who accused the head of Chevron of “killing people” during a disgraceful outburst in New York. Setting aside the
Data Contradicts Rationale Underpinning Biden’s Decision To Halt New Natural Gas Export Hubs
Market data undermines one the Biden administration’s central justifications for pausing new approvals of liquefied natural gas (LNG) export terminals. The administration has rolled out or amplified several talking points to back up the LNG terminal approvals pause, including the suggestion that expanded LNG exports will put upward pressure on domestic natural gas prices. However, market
Four countries could account for most near-term petroleum liquids supply growth
In 2023, the world produced an estimated 101.8 million barrels per day (b/d) of petroleum and other liquids: mostly crude oil but also lease condensate, natural gas liquids, biofuels, and other liquids from hydrocarbon sources. We expect the global petroleum and other liquids supply to increase by about 0.4 million b/d
United States produces more crude oil than any country, ever
The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global
CRUDE OIL WEEKLY UPDATE (Week Ending 03-22-24)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending March 15, 2024, which was 127
NATURAL GAS WEEKLY UPDATE (Week Ending 03-22-24)
In the News (EIA): Market Highlights: Prices Henry Hub spot price: The Henry Hub spot price rose 33 cents from $1.24 per million British thermal
Zekelman Industries Steel Snapshot for March 2024
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts March HR Coil $800 down $100 from Feb. Nucor announced last week new HRC pricing
Preston Pipe Report – March 2024
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Last month, we reported on the four projects that are directly impacted by the Biden
Argus Pipe Logix Line Pipe Report – February 2024
(by Rye Druzin, www.pipe-logix.com) US line pipe prices fell by 2% in February, accelerating declines compared to the prior month. Domestic prices fell by 2.7%
AISI Press Release on Latest U.S. Imports of Steel Products – March 2024
American Iron and Steel Institute, www.steel.org – (03-08-24) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron