Pietro D
Pitts
Hart Energy
Biden Admin Talks with Energy Firms to Balance Oil Prices, Sources Say
The discussions, which involve combining new releases from the stockpile and setting the schedule for buying the oil back, reflect the White House’s desire to combat rising pump prices without hurting domestic drillers or refiners.
OPEC+ Members Endorse Output Cut after US Coercion Accusation
The Gulf state’s energy minister, Suhail al-Mazrouei, wrote on Twitter: “I would like to clarify that the latest OPEC+ decision, which was unanimously approved, was a pure technical decision, with NO political intentions whatsoever.”
Sempra CEO Sees Massive Growth in LNG Trade, Liquefaction Capacity
Sempra’s Chairman and CEO Jeffrey W. Martin says the U.S. is fortunate to have adequate or surplus natural gas supplies and an ability to produce about 100 Bcf/d of gas with about 20% earmarked for export.
OPEC+ Oil Supply Cuts Could Tip World into Recession, IEA Says
“The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut supply are slowing world oil demand,” said the IEA.
Saudi Arabia Says OPEC+ Oil Cut ‘Purely Economic’
The White House pushed back on Oct. 13, saying it presented Saudi Arabia with an analysis that showed the oil cut by OPEC+ could hurt the world economy.
OPEC Cuts 2022, 2023 Oil Demand Growth View as Economy Slows
The lower demand outlook gives additional context for last week’s move by OPEC and its allies, known as OPEC+, to make their largest cut in output since 2020 to support the market. The U.S. criticized the decision.
Biden Re-evaluating US Relationship with Saudis after OPEC Decision
U.S. officials had been quietly trying to persuade its biggest Arab partner to nix the idea of an OPEC production cut, but Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, was not swayed.
Putin Says Russia Not Working ‘Against Anyone’ in Energy Markets
Speaking with President Sheikh Mohammed bin Zayed al-Nahyan of the UAE, Putin said Russia aimed to create stability on energy markets and ensure that supply and consumption were balanced.
India Offers 42 Hydrocarbon Blocks in Latest Auction
India's 26 offered blocks include 15 ultra deepwater, eight shallow water and three onland blocks covering a total of 223,000 sq km.
Kremlin Praises OPEC+ for Countering US ‘Mayhem’
Kremlin spokesman Dmitry Peskov said it was very good that such “balanced, thoughtful and planned work of the countries, which take a responsible position within OPEC, is opposed to the actions of the U.S.”