Could Oil Prices Hit $80 Per Barrel?

Could Oil Prices Hit  Per Barrel?

Despite the significant rally in oil over the past couple of weeks, demand uncertainty continues to affect prices. The outbreak of the second wave of a new Covid-19 strain in India has particularly left the markets concerned about fuel demand in the world’s 3rd largest oil consumer.  According to Indian state-owned refiner, Bharat Petroleum, overall fuel demand […]

How a Houston oil giant is pushing the needle on commercial-scale direct air capture

How a Houston oil giant is pushing the needle on commercial-scale direct air capture

For a transition to a renewable energy infrastructure to occur, we have to develop commercial-scale clean technology. Many energy experts agree that such a transition will require the assistance of the oil and gas sector, and when it comes to funding clean energy development, one Houston-based oil giant is putting its money where its mouth […]

Goldman projects transportation fuel demand will peak in 2026

Goldman projects transportation fuel demand will peak in 2026

Add Goldman Sachs Group Inc. to the list of forecasters calling for oil demand to peak sooner rather than later. The bank brought forward its forecast for peak oil demand in the transportation sector by one year to 2026, if not sooner, largely due to the accelerating adoption of electric vehicles. Overall crude consumption will […]

U.S. Oil Production Is About To Climb

U.S. Oil Production Is About To Climb

Over the past quarter, U.S. oil producers have turned much more optimistic about oil prices and demand and have already increased drilling activity from last year’s trough. Crude oil production has stabilized at around 11.1 million barrels per day (bpd) in December 2020 and January 2021, while current oil prices at over $60 per barrel […]

Oil, gas industry optimistic amid pandemic

Oil, gas industry optimistic amid pandemic

The oil and gas industry, like many others, was heavily affected by the COVID-19 pandemic. Travel restrictions worldwide left the oil and gas industry at a standstill. Justin Kringstad of the North Dakota Pipeline Association said, “Over the last year, there was a tremendous drawdown or a decrease in the amount of oil that was […]