North Dakota Oil Output Down Up to 650,000 BPD in Severe Storm
Oil output in North Dakota has been reduced by half, shedding up to 650,000 barrels per day as a result of extreme winter weather
Source: oilprice.com
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Oil Jumps, but Another Downward Slide Seems Likely
WTI crude gained more than 2% on Tuesday morning, erasing some of Monday's losses, but increasingly negative sentiment in oil remains a prime risk.
Source: oilprice.com
The Netherlands To Turn On Groningen Gas Output amid Cold Snap
The Dutch government has decided to temporarily extract minimal amounts of natural gas from two sites at the Groningen gas field that was closed last year, as a deep freeze is moving into northwest Europe
Source: oilprice.com
Average U.S. Natural Gas Prices Plunged by 62% in 2023
Record-high natural gas production, flat demand, and high inventories resulted in U.S. benchmark natural gas prices averaging $2.57 per million British thermal units (MMBtu) in 2023, down by around 62% compared to the 2022 average
Source: oilprice.com
Oil Gains Over 3% On Libya, OPEC and Middle East Escalation
Crude oil prices rose more than 3% Wednesday driven by escalating tensions in the Middle East, an OPEC pledge of unity and the shut-in of Libya’s biggest oilfield over protests
Source: oilprice.com