Tag: US oil

Gulf State OPEC Members Sound Alarm About Dwindling Global Energy Capacity

May 11, 2022
Business & EconomycommoditieseconomyMarketsMiddle EastOPECsaudi arabia oilUSUS oilWorld
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Saudi Arabia and the United Arab Emirates warned on May 10, that their spare energy capacity is decreasing in all energy sectors as key producers reduce investment in fossil fuels, pushing oil,  diesel, and natural gas to trade at near-record highs. Brent oil was trading at around $102 a barrel as of the afternoon of…

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American Oil Producers Boost Fracking Output as Fuel Prices Surge

January 12, 2022
Business & EconomycommoditieseconomyhydrofrackingMarketsUSUS oil
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U.S. oil production is set to rise above $80 a barrel, with the surge in prices seeing a boost in output by shale producers. Benchmark U.S. crude futures prices have jumped more than $5 a barrel since the end of December. Oil prices hit at a two month high on Jan. 12, with U.S. crude inventories…

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