Tag: Oil

Oil Drops Below $80 on European COVID-19 Concerns

November 19, 2021
Asia & PacificBusiness & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyCompaniesCOVID-19economic policiesEconomieseconomyEuropeEuropeanExecutive BranchglobalGold & CommoditiesInternationalLocal NewsMarket WatchMarketsMiddle EastNew YorkOilPoliticsRegional-Local NewsTexasUSUS NewsWorld
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LONDON—Oil prices dropped below $79 a barrel on Friday as a fresh surge in COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool energy prices. Brent crude was down $2.44, or 3 percent, at $78.80 a barrel by 1110…

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US ‘Must Not Emulate Europe’s Disastrous Energy Blueprint’: Expert

November 18, 2021
climate changecoalEnergy Information AdministrationEuropeIEAInternational Energy AgencyJoe ManchinJohn BarrassoNatural gasOilrenewablesRobert BryceSaule OmarovaUSUS News
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Energy expert Robert Bryce said spiking energy prices in Europe are tied to an increased reliance on renewables and lowered investments in fossil fuels, arguing that the continent’s green policies provide the United States with a clear example of what not to do. Bryce, who made his remarks in testimony to the Senate Committee on Energy…

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Average San Diego County Gas Price Less Than 8 Cents from Record High

November 18, 2021
GasgasolineLocal NewsOilRegional NewsRegional-Local NewsSan DiegoSouthern CaliforniatrafficUS
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SAN DIEGO—The average price of a gallon of self-serve regular gasoline in San Diego County rose Nov. 18 for the ninth consecutive day, increasing a half-cent to $4.648. The average price is within 7.7 cents of matching San Diego County’s record high of $4.725 set on Oct. 8, 2012. The average price has increased 10.3…

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Canadian Shippers Find Few Easy Alternatives for Grain, Oil Cut Off by Flood

November 18, 2021
Business & EconomyBusiness ColumnistsCanadaCanadianEconomiesOilWorld
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WINNIPEG, Manitoba—Canadian exporters of commodities from grain to fertilizer and oil scrambled on Wednesday to divert shipments away from Port of Vancouver, which floods have isolated, but they found few easy alternatives. The disaster, which has killed at least one person, has caused the latest blockage in the congested global supply chain, driving up inflation…

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Drilling Activity in Canada to Increase in 2022, Says Petroleum Association

November 16, 2021
Business & EconomyCanadadrillinglabour shortageOilWorld
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Oil and natural gas drilling in Canada is expected to increase by 16 percent in 2022, according to forecasting from the Petroleum Services Association of Canada (PSAC). “For 2022, we expect drilling activity to be higher than 2019. But, although we’ll be back to pre-COVID levels, we’re not going to be near where we were…

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California Gas Prices Reach New Record High

November 16, 2021
bidenBusiness & EconomyCaliforniaeconomic policieseconomyExecutive Branchgas pricesLocal NewsNorthern CaliforniaOilPoliticsrecord highsRegional-Local NewsSouthern CaliforniaUSUS News
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The average price of a regular gallon of gasoline in California reached a record high on Monday as sticker shock continues to anger drivers paying more at the pump. Monday’s average price for a gallon of regular unleaded gas in California rose to $4.682, according to the American Automobile Association. The price broke the previous record…

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Ottawa Must Consult Provinces on Emissions Cap for Oil, Gas Industry: Alberta Premier

November 15, 2021
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OTTAWA—Alberta Premier Jason Kenney says the federal government must consult with the provinces as Ottawa moves on plans to implement a cap on emissions from the oil and gas sector. Kenney’s warning came during a rare appearance with Prime Minister Justin Trudeau today, as Alberta became the latest province to agree to participate in a…

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European Shares Hit New Highs, Firm Dollar Dents Oil

November 12, 2021
Asia & PacificAustraliaBusiness & EconomyBusinesses in COVID-19ChinaChina Business & EconomyCompaniesDollareconomic policiesEconomieseconomyEuropeEuropeanGold & CommoditiesinflationInternationalInvestmentLocal NewsMarket WatchMarketsMiddle EastNew YorkNY NewsOilRegional-Local NewsSharesTexasUKUSUS NewsWorld
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LONDON—European shares chalked up new highs on Friday as shock from unexpectedly strong U.S. inflation data earlier in the week eased, though investors kept a wary eye on rising yields as the dollar hit a 16-month high. The STOXX index of 600 companies was up 0.09 percent, enough to eke out a new record high…

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OPEC Says Inflation Is Weakening Demand for Oil

November 11, 2021
Business & EconomyBusinesses in COVID-19economyGold & CommoditiesinflationMarketsOilOPECUSUS News
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OPEC has cut its world oil demand forecast through the end of 2021, with the cartel blaming inflation for dampening the global economic recovery and sapping demand for crude. “A slowdown in the pace of recovery in the fourth quarter of 2021 is now assumed due to elevated energy prices,” OPEC wrote in its closely-watched…

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‘No Chance’ of Net Zero by 2050: Oil Exec Chris Wright Weighs in on COP26

November 10, 2021
Business & Economycarbon taxcoalCOP26Environmentglobal warmingInternationalIPCCnational conservatism conferencenet zeroNet Zero by 2050NuclearOilScienceWorld
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Chris Wright, CEO of the frac firm Liberty Oilfield Services, dislikes the term “climate denier.” The label is both pejorative and, in Wright’s case, inaccurate. “Climate change is a real thing,” Wright told The Epoch Times in a conversation at the National Conservatism Conference II. “Humans have increased greenhouse gases in the atmosphere.” Much of…

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