Page 7 - Ben Luckock News Today

Meanwhile, American motorists swallow high prices at the pump.

Unlike in previous years, the U.S. shale patch will not have a large say in where oil prices will be going in the coming months

(Bloomberg) When the OPEC+ alliance of oil producers gathers Monday, group leader Saudi Arabia can savor a moment of triumph. Eighteen months after slashing crude production during the pandemic, Riyadh is set to pump at almost pre-Covid levels of 9.8 million barrels a day this month as a recovering global…

Saudi Arabia’s oil revenues are flowing in at the highest rate in three years, Bloomberg reports, thanks to the strong price recovery since the start of this year

The shortage of natural gas, which has sent prices to the equivalent of $190 a barrel, is spurring a switch to oil products for heating and manufacturing.

??With crude prices revived at $80 per barrel, the kingdom's petroleum revenues are at a three-year high.

(Bloomberg) — When the OPEC+ alliance of oil producers gathers next week, group leader Saudi Arabia can savor a moment of triumph. 

(Bloomberg) -- When the OPEC+ alliance of oil producers gathers next week, group leader Saudi Arabia can savor a moment of triumph.  Eighteen months after slashing crude production during the pandemic, Riyadh is set to pump at almost pre-Covid levels of 9.

As the forward curve for crude continues to strengthen, the level of backwardation shows that the market continues to tighten during the last quarter of 2021

The natural gas storage report from the EIA for the week ending February 12th indicated that the amount of natural gas held in underground storage in the US fell by 237 billion cubic feet to 2,281 billion cubic feet by the end of the week, which left our gas supplies 105 billion cubic feet, or 4.4% below the 2,386 billion cubic feet that were in storage on February 12th of last year, but 57 billion cubic feet, or 2.6% above the five-year average of 2,224 billion cubic feet of natural gas that h...