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Industry News

  • Thanksgiving and Black Friday have unique electricity demand patterns
    on November 20, 2018 at 1:00 pm

    Hourly electricity usage on Thanksgiving and the following day (Black Friday) tend to have different demand patterns from other weekdays. On a typical weekday in November, electricity usage tends to have two peaks: a morning peak and a slightly higher evening peak. On Thanksgiving, electricity demand tends to be highest late morning, as families cook meals and gather to celebrate the holiday. And because most businesses are closed, overall electricity demand on Thanksgiving Day tends to be lower. […]

  • Deep Divisions Hinder Canadian Oil Patch
    on November 20, 2018 at 12:00 am

    The Canadian oil industry is being hamstrung by internal divisions that are making it harder to rally around potential solutions. […]

  • Oil Holds Near $57
    on November 20, 2018 at 12:00 am

    Crude markers in New York and London have both fallen more than 20% from their October highs. […]

  • Thanksgiving week: EIA data highlight how energy is used in the kitchen
    on November 19, 2018 at 1:00 pm

    As Thanksgiving nears, households across the nation are firing up their stoves, cooktops, and ovens to prepare their feasts. According to the latest data from EIA’s Residential Energy Consumption Survey (RECS), electricity is the most common fuel used for cooking, with 74.9 million households (63%) using electricity in a stove, cooktop, or oven. The cooking fuel a household uses is often the same fuel it uses to heat the home: 59% of households reported using the same type of fuel for cooking as for main space heating. […]

  • Oil Advances as Capacity Warnings Counter Russia Queries
    on November 19, 2018 at 12:00 am

    Oil prices gained ground as traders weighed countervailing signals about how much OPEC and its allies can afford to trim production. […]

  • Global FPSO Market Set to Rebound
    on November 19, 2018 at 12:00 am

    The global floating production market has stirred back to life, according to Rystad Energy. […]

  • Cimarex Acquires Resolute Energy in $1.6B Deal
    on November 19, 2018 at 12:00 am

    Denver-based Cimarex will purchase Resolute in a cash and stock deal valued at $1.6 billion. […]

  • Oil Shoots Back Up After 6 Weeks of Losses
    on November 19, 2018 at 12:00 am

    Oil shot back up following 6 weeks of losses as speculation of OPEC weighing bigger output cuts overshadowed signs of expanding American crude production. […]

  • Russian Stance on OPEC+ Cuts Shows Gap with Saudis
    on November 19, 2018 at 12:00 am

    Russia's energy minister insists the country and its allies in OPEC need to watch the oil market in the coming weeks before making any decisions to cut output. […]

  • The Wolfcamp play has been key to Permian Basin oil and natural gas production growth
    on November 16, 2018 at 1:00 pm

    Space heating and water heating were the top two energy-consuming uses in U.S. homes in 2015, according to EIA’s latest Residential Energy Consumption Survey (RECS). Space heating consumption can vary considerably by climate and building characteristics, while variation in water heating consumption is driven primarily by the number of occupants in a home. Households use a variety of fuels for space heating and water heating, which affects these end-use shares of household energy expenditures. […]

  • Oil Poised for Sixth Weekly Loss
    on November 16, 2018 at 12:00 am

    Oil is poised for a sixth weekly loss, trading near $57 a barrel. […]

  • Crude Oil Down for the Week but Gas Rebounds
    on November 16, 2018 at 12:00 am

    The December WTI remained flat on Friday. […]

  • How to Bounce Back from Professional Failure
    on November 16, 2018 at 12:00 am

    Oil and gas experts offer tips on how to bounce back from a professional set-back. […]

  • US Adds Oil Rigs for Fifth Out of Sixth Weeks
    on November 16, 2018 at 12:00 am

    This week's rig count marks the fifth out of six weeks that the nation has added oil rigs. […]

  • Finding Oil Floor Is Going to Take More Time
    on November 16, 2018 at 12:00 am

    Finding a floor for oil is going to take more time, according to CIBC Private Wealth Management Senior Energy Trader Rebecca Babin. […]

  • Total U.S. natural gas stocks end refill season at lowest level in 13 years
    on November 15, 2018 at 1:00 pm

    Working natural gas in underground storage in the Lower 48 states as of October 31, 2018, totaled 3,208 billion cubic feet (Bcf), according to interpolated data from EIA’s Weekly Natural Gas Storage Report released on November 8. Inventory levels for the Lower 48 states and in each of the U.S. natural gas regions ended the refill season at their lowest levels since October 2005, and these levels were considerably lower than their previous five-year averages. Although the natural gas storage injection, or refill, season is traditionally defined as April 1 through October 31, additional injections may occur into November. […]

  • Crude Oil Up and Gas Continues Wild Ride
    on November 15, 2018 at 12:00 am

    Crude oil futures continued to recover Thursday while natural gas' robust rally reversed course. […]

  • The Market is Overreacting
    on November 15, 2018 at 12:00 am

    The market is overreacting, according to Nasdaq IR Intelligence Energy Director Tamar Essner. […]

  • Big Oil Reuses Platforms in Latest Cost-Cutting Trick
    on November 15, 2018 at 12:00 am

    Oil companies have pushed through draconian cost cuts during the recent industry slump, but they're not quite done yet. […]

  • Oil Trades Near $56
    on November 15, 2018 at 12:00 am

    Oil traded near $56 a barrel after snapping a record losing streak. […]

  • U.S. crude oil and natural gas production increased in 2017, with fewer wells
    on November 14, 2018 at 1:00 pm

    The total number of wells producing crude oil and natural gas in the United States fell to 991,000 in 2017, down from a peak of 1,039,000 wells in 2014. This recent decline in the number of wells reflects advances in technology and drilling techniques. EIA’s updated U.S. Oil and Natural Gas Wells by Production Rate report shows how daily production rates of individual wells contributed to U.S. total crude oil and natural gas production in 2017. […]

  • IEA Welcomes Return of Oil Surplus
    on November 14, 2018 at 12:00 am

    The IEA welcomes the oil market's return to surplus. […]

  • Crude Oil Recovers and Natural Gas Roars
    on November 14, 2018 at 12:00 am

    One day after tumbling more than 7%, the December WTI crude oil futures price recovered slightly. […]

  • Mexico's CNH President Turns in Resignation
    on November 14, 2018 at 12:00 am

    Juan Carlos Zepeda Molina, president of the National Hydrocarbons Commission of Mexico will leave the office in December. […]

  • GE's Knack for Bad Timing Strikes Again
    on November 13, 2018 at 12:00 am

    General Electric Co.'s plan to unravel its Baker Hughes stake smacks of desperation. […]

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