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Diesel In ‘Crisis’ Mode As Prices Break Records
Diesel In ‘Crisis’ Mode As Prices Break Records Diesel prices, the lifeblood of industry, have hit a record $5.16 per gallon, trending $1 per gallon higher than gasoline prices, with inventory shortages adding severe pressure and resulting in inflated prices for consumer goods. “While gasoline prices get much of the attention, diesel, which broadly is […]
Why Renewables Can’t Solve Europe’s Energy Crisis
Why Renewables Can’t Solve Europe’s Energy Crisis Europe has been aggressively pursuing a clean energy future and the end of fossil fuels, but Russia’s invasion of Ukraine has highlighted the shortcomings of renewables. The soaring prices of key metals and the length of time it takes to implement renewable energy projects have meant Europe is […]
Desperation And Austerity Hit Global Energy Markets
Desperation And Austerity Hit Global Energy Markets We are starting to see the makings of energy curtailments in Europe – an exceedingly unpopular step that governments would be unlikely to take if there were any other choice, highlighting the acute desperation that exists over oil and gas supplies. Another signal of this desperation is Biden’s […]
Rationing Looms As Diesel Crisis Goes Global
Rationing Looms As Diesel Crisis Goes Global Russian refiners cut processing rates of diesel fuel. Already tight diesel supply is getting even tighter. Vitol’s chief executive Hardy: diesel supply shortage could trigger rationing in Europe Earlier this week, Vitol’s chief Russell Hardy warned that a diesel shortage could trigger fuel rationing in Europe. Now, those […]
Why Isn’t U.S. Shale Production Soaring?
Why Isn’t U.S. Shale Production Soaring? With oil prices threatening to break $100 this year, many observers are confused by the lack of a U.S. shale boom. The major reason that U.S. shale companies are reluctant to boost production at all costs is that they need to keep shareholders happy first and foremost. Other issues […]
Oil Executives: Higher Energy Prices Are Here To Stay
Oil Executives: Higher Energy Prices Are Here To Stay Big oil executives expect that higher energy prices are here to stay. Underinvestment in new production is seen as one of the driving factors behind higher energy prices in the mid-term. Low global inventories and limited spare production capacity are driving crude prices in the short […]
Running Out Of Sweet Spots: Shale Growth May Not Materialize
Running Out Of Sweet Spots: Shale Growth May Not Materialize U.S. shale drillers are looking to boost production in the short term Industry data suggests that well depletion is advancing Drillers remain upbeat about the short term forecast for shale oil production During the last shale oil boom when producers were racing to see who […]
Russia’s Oil Output Could Peak In 2023
Russia’s Oil Output Could Peak In 2023 There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow. The world’s third-largest oil producer’s output will continue growing, peaking at 12.2 million barrels per day by mid-2023, according to Rystad Energy. A combination of extreme climate, rising depletion rates […]
Oil Rally Fueled By OPEC Production Shortfall
Oil Rally Fueled By OPEC Production Shortfall In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target OPEC’s underproduction fuels speculation about the cartel’s ability to ramp up production Morgan Stanley: global spare oil production capacity will shrink from 6.5 million bpd at the moment to just […]
Turkey Hit By Unprecedented Power Outages As Iran Halts Gas Flows
Turkey Hit By Unprecedented Power Outages As Iran Halts Gas Flows A disruption to natural gas imports from Iran has caused an unprecedented level of power cuts in Turkey. The power cuts have largely impacted major industrial zones, with some companies forced to halt production as a result. Iran claims that its natural gas flows […]
Morgan Stanley Jumps On The $100 Oil Bandwagon
Morgan Stanley Jumps On The $100 Oil Bandwagon Morgan Stanley expects oil prices to hit $100 per barrel in the second half of the year, becoming the latest major Wall Street bank to expect triple-digit oil prices by the end of 2022. The oil market is headed to a “triple deficit” of low inventories, low […]
Germany To Become Net Power Importer For The First Time Since 2002
Germany To Become Net Power Importer For The First Time Since 2002 Europe’s largest economy, Germany, is expected to become a net importer of electricity in 2023 for the first time since 2002 due to retiring coal plants and the nuclear phase-out, the International Energy Agency (IEA) said on Friday. Germany plans to switch off all its […]
Dutch Plan To Boost Gas Output At Earthquake-Prone Site Sparks Anger
Dutch Plan To Boost Gas Output At Earthquake-Prone Site Sparks Anger Residents in the Groningen area in the Netherlands have voiced their anger at a plan by the Dutch government to potentially double this year production from the Groningen gas field, which has been hit by earthquakes in the past. The Dutch government said on Thursday that […]
Gas Prices In Europe Are Soaring Again Amid New Cold Snap
Gas Prices In Europe Are Soaring Again Amid New Cold Snap European benchmark natural gas prices rose on Wednesday for the third day in a row, as gas deliveries from Russia via Ukraine and Poland continue to be low while another cold snap is headed to Europe. On Wednesday, natural gas prices at the Dutch […]
Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe
Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe Natural gas exports from Russia via the Yamal-Europe pipeline will remain limited at the start of this week as true winter begins and Russia keeps more gas for domestic consumption, with maximum temperatures in Moscow dipping below zero. Bloomberg reports that after booking limited transit space […]
