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Oil Prices Gain 2% on Tightening Supply

Julianne Geiger

Oilprice.com

Contributor since: 12 Jan 2016

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

Latest articles from Julianne

  • U.S. Takes First Oil Price Cap Enforcement Action Of 2024

    Published 18 January 2024 | viewed 25,295 times

    The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken its first oil price cap enforcement action of the year,…

  • Surprise Build In Crude Oil Inventories Weigh On Prices

    Published 17 January 2024 | viewed 13,372 times

    Crude oil inventories in the United States rose this week by 483,000 barrels for the week ending January 12, according to The American Petroleum Institute…

  • U.S. Gasoline Prices End 2-Week Losing Streak

    Published 17 January 2024 | viewed 3,624 times

    Retail gasoline prices in the United States changed course this week—after falling for two consecutive weeks—rising to $3.04 per gallon on Tuesday, according to the…

  • OPEC Sees Production Rise In December Despite Cut Pledges

    Published 17 January 2024 | viewed 2,389 times

    The Organization of Petroleum Exporting Countries produced more crude oil in December than it had in November, according to the group’s latest edition of its…

  • Biden Administration Plugs Away At Refilling Oil Stockpiles

    Published 12 January 2024 | viewed 23,992 times

    The Biden Administration took one more baby step towards refilling the nation’s Strategic Petroleum Reserves (SPR), announcing on Friday a request for proposal for another 3…

  • More Drilling Slowdowns for U.S. Oil, Gas Industry

    Published 12 January 2024 | viewed 13,032 times

    The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker…

  • World’s Largest Uranium Miner Will Miss Production Targets

    Published 12 January 2024 | viewed 10,441 times

    The world’s largest uranium miner issued a dire warning on Friday concerning its production outlook for 2024, sparking fears that nuclear fuel supply could be…

  • Hertz’s Big Move Into EVs Turns Out To Be A Dud

    Published 11 January 2024 | viewed 3,405 times

    The Hertz car rental company is selling roughly one-third of its electric vehicle fleet, the company said in a Thursday regulatory filing to the SEC,…

  • API Reports Unexpected Decrease in U.S. Crude Supplies

    Published 09 January 2024 | viewed 16,594 times

    Crude oil inventories in the United States fell this week by 5.215 million barrels for the week ending January 5, according to The American Petroleum…

  • EIA Sees U.S. Setting New Oil Production Record in 2025

    Published 09 January 2024 | viewed 4,932 times

    The EIA’s first outlook for 2025 shows forecasted U.S. crude oil production reading 13.4 million barrels per day—a new record for the country.  The Energy…

  • Norway Approves Deep-Sea Mining for Critical Minerals

    Published 09 January 2024 | viewed 1,794 times

    Environmentalists received a blow this week as Norway’s parliament agreed to allow Arctic seabed exploration to mine for critical minerals as it attempted to shift…

  • U.S. Gasoline Prices Slide, Defying Crude Oil Rise

    Published 05 January 2024 | viewed 8,842 times

    Retail gasoline prices in the United States continued to fall on Friday, landing at $3.088 per gallon, according to the latest AAA data.  This is…

  • U.S. Drilling Continues to Slow

    Published 05 January 2024 | viewed 17,337 times

    The total number of active drilling rigs for oil and gas in the United States fell this week by 1, according to new data that…

  • OPEC’s December Production Up, Not Down: Survey

    Published 05 January 2024 | viewed 4,929 times

    The Organization of the Petroleum Exporting Countries (OPEC) increased its crude oil production in December, collectively pumping 27.88 million barrels per day, according to a…

  • U.S. Refiner Phillips 66 Discussing Asset Sale

    Published 04 January 2024 | viewed 9,166 times

    Houston-based petroleum refinery Phillips 66 (NYSE:PSX) is actively discussing the sale of some of its assets, according to a Thursday statement made by the company's…

  • Pemex Gives Processing Forecast for Newest Oil Refinery

    Published 04 January 2024 | viewed 5,592 times

    Mexico’s state-run oil company Pemex said on Thursday that its newest refinery—with a nameplate processing capacity of 340,000 bpd, will process 243,000 bpd this year…

  • U.S. Product Inventory Builds Overshadow Large Crude Draw

    Published 03 January 2024 | viewed 21,271 times

    Crude oil inventories in the United States fell this week by 7.418 million barrels for the week ending December 29, according to The American Petroleum…

  • Biden Administration To Purchase More Oil For SPR

    Published 03 January 2024 | viewed 4,979 times

    The Department of Energy’s Office of Petroleum Reserves has announced a solicitation for the purchase of up to 3 million barrels of crude oil for…

  • U.S. Now World’s Largest LNG Exporter

    Published 02 January 2024 | viewed 18,161 times

    The United States is now the world’s LNG exporter, after overtaking Australia and Qatar, according to new data compiled and shared by Bloomberg on Tuesday.…

  • OPEC+ To Hold JMMC Meeting Next Month

    Published 02 January 2024 | viewed 2,255 times

    OPEC+ will hold a Joint Ministerial Monitoring Committee meeting sometime in early February, three sources said on Tuesday, according to media. OPEC+ typically holds JMMC…

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