Whatever the short-term benefits for producers, the market upheaval could accelerate the transition away from oil, he says.
Tag: Production
Russia’s Moves in Ukraine Unsettle Energy Companies and Prices
Oil and gas prices are up, and Western energy giants with operations and investments in Russia could find it harder to keep doing business there.
OPEC and Allies Agree to Raise Oil Output Amid Lagging Production
The group called OPEC Plus decided to increase oil output by 400,000 barrels a day, but its members have lately been falling short of production quotas.
As Western Oil Giants Cut Production, State-Owned Companies Step Up
In the Middle East, Africa and Latin America, government-owned energy companies are increasing oil and natural gas production as U.S. and European companies pare supply because of climate concerns.
OPEC and Other Producers Will Meet to Decide Oil Output
OPEC Plus will stick with a production increase negotiated in July.
Oil Nations Again Fail to Reach Deal as U.A.E. Demands Higher Quota
Monday’s meeting never got started after attempts to mediate the dispute failed to make progress.
Why $4-a-Gallon Gas May Be Coming Your Way This Summer
The oil industry, known for boom-bust cycles, is resisting the temptation to pump more oil — for now.
Suriname Could Be Latest Big Oil Find as Industry Cuts Costs
The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less.
Saudi Arabia Will Cut Its Oil Production, Allowing Russia’s to Grow
Oil prices rose to levels not seen since February. The two major oil producers had been moving in lock step since an April agreement to cut output.
Natural Gas Exports Slow as Pandemic Reduces Global Demand
Businesses in the United States, Israel and other countries were planning to invest billions in export terminals. Now, those projects are being canceled or delayed.