More Economics & Oil Market News

MARKET WATCH: Crude oil futures prices end week flat

The New York Mercantile Exchange November crude contract climbed 14¢ on Oct. 18, settling at $100.81/bbl. The December contract added 24¢ to settle at $101.11/bbl.

FERC staff: US winter gas supplies adequate

The US market for natural gas approaches the winter of 2013-14 adequately supplied, according to the Federal Energy Regulatory Commission staff.

MARKET WATCH: Energy prices fall despite news of government startup

Oil and gas prices fell Oct. 17 despite news out of Washington, DC, that the US Congress approved and President Barack Obama signed legislation ending a 16-day partial government shutdown.

MARKET WATCH: Oil prices rise on US Senate budget, debt deal

Oil futures rose by more than $1/bbl on the New York market Oct. 16 as the US Senate approved an agreement to reopen the partially closed government through Jan. 15 and suspend a US debt ceiling deadline through Feb. 7. The House of Representatives later approved the same deal.

SAFE: Expanded use of natural gas as US motor fuel ‘sensible strategy’

Expanding the use of natural gas to fuel US motor vehicles, even partially, is the most sensible strategy for reducing petroleum’s dominant fuel position—and the nation’s reliance on oil imports from politically unstable parts of the world. This was one of many messages shared by panelists during a day-long conference in Washington, DC, sponsored by Securing America’s Future Energy that examined lessons learned in the 40 years since the start of the Arab oil embargo.

IEA unveils new ‘energy efficiency’ market report

Energy efficiency markets around the world drew investment of as much as $300 billion in 2011, according to a recently unveiled report from the International Energy Agency called the “Energy Efficiency Market Report.”

PIRA: Shale production growth makes US largest liquids producer

US total oil supply is expected to average 12.1 million b/d this year, making it the world’s largest oil producer, PIRA Energy Group, an energy markets consulting firm in New York, reported. PIRA counts oil supply as all liquids, including condensates.

MARKET WATCH: Crude oil prices down as US government shutdown lingers

The front month crude oil contract on the New York market dropped to the lowest level on Oct. 15 since it last settled below $100/bbl on July 2.

Schlesinger: US in better oil, gas position now than in 1973

The US is in a better oil and gas position now than it was 40 years ago when Arab oil producers cut off shipments in response to US support of Israel soon after the Yom Kippur War began, former US Defense and Energy Sec. James Schlesinger said.

MARKET WATCH: Crude oil traded higher amid Washington budget talks

Crude oil futures prices traded higher on the New York market Oct. 14 as US lawmakers reported progress in ongoing efforts toward reaching an agreement to reopen the federal government and to avoid a potential debt crisis.

IEA: September OPEC crude supplies slipped below 30 million b/d

Due to lower output from Iraq and Libya, OPEC crude oil supplies in September fell by 645,000 b/d to 29.99 million b/d, below the 30 million b/d threshold for the first time in almost 2 years, according to the International Energy Agency’s most recent Oil Market Report.

MARKET WATCH: Oil prices close down at end of volatile week

The NYMEX November crude contract lost 99¢ on Oct. 11, settling at $102.02/bbl ending a week of volatile trading. The December contract fell 83¢ to $102.06/bbl.

Senate passes gulf transboundary bill, forwards to House

The US Senate approved legislation authorizing the US Department of Interior to implement terms of the Gulf of Mexico transboundary agreement with Mexico on Oct. 12. The bill, S. 812, headed for the US House of Representatives, which passed its own legislative version on June 26 as part of a larger package.

Mexican proposal seeks Pemex profit-sharing

A proposal for hydrocarbon revenue by Mexican President Enrique Pena Nieto provides a hint about a possible structure for oil and gas investment by outsiders in Mexico, says a legal update by the law firm Mayer Brown.

MARKET WATCH: Oil, gas prices gain back losses in waffling market

The NYMEX November crude contract gained $1.40 on Oct. 10, settling at $103.01/bbl. The December contract jumped $1.46 to $102.89/bbl.

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Optimizing Careers for Oil and Gas Leaders Through Professional Short Courses at Colorado School of Mines

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January 26, 2015
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