What is OPEC+ And How Does it Affect Oil Prices?
EnergyNow
by EnergyNow Media
7M ago
(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia are known collectively as OPEC+ and will meet on June 2 to discuss their joint oil production policy. Below are key facts about OPEC+ and its role. WHAT ARE OPEC AND OPEC+? OPEC was founded in 1960 in Baghdad by Iraq, ... Read more ..read more
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Oil Posts Weekly Loss as Interest Rate Policy Spurs Fuel Demand Worries
EnergyNow
by EnergyNow Media
7M ago
Summary Brent settles 2.1% lower for the week Interest rate policy, rise in crude oil stocks weigh Oil rig count unchanged, Baker Hughes data Market awaits OPEC+ June 2 online meeting (Reuters) – Oil prices rose about 1% on Friday, but fell for the week on worries that strong U.S. economic data would keep interest ... Read more ..read more
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U.S. Natgas Price Spike Prompts Drillers to Return to Wellpad in May
EnergyNow
by EnergyNow Media
7M ago
A 63% spike in U.S. natural gas futures prices over the past three weeks was enough to push some drillers to start pulling more fuel out of the ground, according to energy analysts and data from financial firm LSEG. To be sure, gas production was still down around 8% so far this year after several ... Read more ..read more
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U.S. Natgas Price Spike Prompts Drillers to Return to Wellpad in May
EnergyNow
by EnergyNow Media
7M ago
A 63% spike in U.S. natural gas futures prices over the past three weeks was enough to push some drillers to start pulling more fuel out of the ground, according to energy analysts and data from financial firm LSEG. To be sure, gas production was still down around 8% so far this year after several ... Read more ..read more
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US Drillers Cut Oil and Gas Rigs for Fourth Time in Five Weeks – Baker Hughes
EnergyNow
by EnergyNow Media
7M ago
May 24 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, ... Read more ..read more
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Enerplus-Chord Energy deal receives shareholder and Investment Canada Act approval
EnergyNow
by The Canadian Press
7M ago
CALGARY — Enerplus Corp. says its shareholders have voted to approve a takeover of the company by U.S. company Chord Energy Corp. The Calgary-based oil and gas company says shareholders voted 99.6 per cent in favour of the stock-and-cash deal. Enerplu ..read more
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University of Calgary looks to relaunch oil engineering program after hiatus
EnergyNow
by The Canadian Press
7M ago
CALGARY — The University of Calgary says it is planning a potential relaunch of its oil and gas engineering program, which it suspended three years ago due to dwindling student demand. The university stopped admitting students to its petroleum enginee ..read more
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OPEC+ to Meet Virtually on June 2
EnergyNow
by EnergyNow Media
7M ago
The OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, has pushed back its output policy meeting by a day to June 2. The meeting was to have been in Vienna on June 1, but will now be held online a day later, OPEC said ... Read more ..read more
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U.S. Energy & Politics: Trump Rakes in Millions at Texas Fundraisers, Promising Pipelines and Fracking
EnergyNow
by EnergyNow Media
7M ago
(Reuters) – Republican presidential candidate Donald Trump raised tens of millions of dollars during a fundraising swing through Texas this week, promising he would support the oil and gas industry by backing new pipelines and restoring fracking on federal land. Trump has courted support from the energy industry with a pro-fossil fuel and anti-regulation agenda and ... Read more ..read more
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Oil Holds Steady Around Three-Month Lows
EnergyNow
by EnergyNow Media
7M ago
LONDON, May 24 (Reuters) – Oil prices were stable on Friday but poised to show a weekly loss under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. Brent crude futures fell by 25 cents, or 0.31%, to $81.11 a barrel by 1151 GMT. U.S. West Texas Intermediate ... Read more ..read more
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