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Oil Prices Soar to Near 14-month High as OPEC+ Extends Output Cuts

2021-03-05 11:20:00| OGI

Both Brent and WTI contracts surged more than 4% on March 5 after OPEC and allies, together called OPEC+, extended oil output cuts into April, granting small exemptions to Russia and Kazakhstan.

Tags: high prices oil output

 

Aramco CEO Amin Nasser Fears of Jobless Recovery for Oil Sector

2021-03-05 10:00:00| OGI

The CEOs of oil giants Chevron and Saudi Aramco are optimistic about the future of oil and gas. Their biggest worry, however, is the return of jobs to the oil sector in the long-term.

Tags: oil sector recovery ceo

 
 

Oil Production in Permian Basin Could Fall Due to Bidens Policies: Dallas Fed Report

2021-03-04 22:15:00| OGI

The Dallas Fed report also cautioned that oil refineries and chemical facilities on the Gulf Coast would need to adapt to losing barrels from the Permian Basin due to possible policy changes on federal lands made by Biden.

Tags: report due fall production

 

OPEC+ Broadly Extends Oil Supply Cuts into April

2021-03-04 18:25:00| OGI

OPECs leader Saudi Arabia said it would extend its voluntary oil output cut of 1 million bbl/d, and would decide in coming months when to gradually phase it out.

Tags: april supply oil cuts

 

Porter to Target Big Oil as House Natural Resources Chair

2021-03-04 15:59:49| OGI

Congresswoman wants to increase royalty rate to 18.75%, and minimum lease auction bids to $5 per acre.

Tags: house big resources natural

 

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