Petroleum Solutions

Oil surpassed $80 a barrel for the first time since August as US inventories tightened and fresh sanctions on Russia began to affect crude flows. Buyers of Russian oil are increasingly turning to other suppliers, with nations including India saying they would bar sanctioned tankers, following the most aggressive sanctions yet by the US. In...

Executives from oil and gas firms have revealed where they expect the Henry Hub natural gas price to be at various points in the future in the fourth quarter Dallas Fed Energy Survey, which was released recently. The average response executives from 128 oil and gas firms gave when asked what they expect the Henry...

The U.S. gasoline price will average $3.22 per gallon in 2025, according to GasBuddy’s 2025 Fuel Price Outlook, which was published recently. The outlook includes a range of possible prices for each month next year. The highest figure in that range appears in April, at $3.67 per gallon, and the lowest figure appears in December,...

Oil rose in thin end-of-year trading, with investors assessing the outlook for 2025 while tracking developments in the Middle East. West Texas Intermediate climbed 1.4% to settle near $71 a barrel, while Brent topped $74. A gauge of 10-day volatility for WTI ebbed to the lowest since July. In the Middle East, Israel struck targets...

BP Plc and the Iraqi government took another step toward reviving one of the OPEC member’s most prolific oil and gas resources, the Kirkuk field. The agreement on technical terms to redevelop the field in the north of Iraq is an important step toward a fully termed contract, BP Executive Vice President William Lin said...

Oil rose as strong US crude exports signaled firm global demand before paring gains after the Federal Reserve reduced the number of rate cuts it expects to make next year. West Texas Intermediate advanced 0.7% to settle below $71 a barrel, while Brent edged higher to settle above $73. WTI’s gain shrank after the session...

Colombia wants to shorten the production timeline at its biggest deepwater discovery, the nation’s energy chief said, as it braces for a shortfall of natural gas in coming years. State-run Ecopetrol SA and Petroleo Brasileiro SA announced this month the Sirius-2 well off the Caribbean coast could triple the country’s reserves if the deposit proves...

A brutal cold snap, on top of concerns that the warm-up after it might not be as warm as previously projected, is giving the U.S. natural gas market a boost, Phil Flynn, a senior market analyst at the PRICE Futures Group, told Rigzone in an exclusive interview when asked why the U.S. natural gas price...

Libya’s oil production has risen to the highest daily level in more than a decade, just months after a political crisis slashed the country’s output. Crude and condensate production hit 1.422 million barrels on Thursday, the National Oil Corp. said in a post on X. That exceeds the state oil-firm’s target by 22,000 barrels. It’s...

Prolonging the United States’ pause on new liquefied natural gas (LNG) projects will deprive Asian countries of a price-competitive source, making it harder for emerging economies in the continent to phase out cheaper but more polluting coal, according to an analysis commissioned by Asia Natural Gas and Energy Association (ANGEA). The study by Wood Mackenzie...