Energy Economy

gas sign

Gas Prices Jump Above $3 in 7 States

Just ahead of the Memorial Day weekend, one of the periods when Americans are on the road in the greatest numbers, gasoline prices have moved above $3 in seven states. ...
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Gas pipeline

Natural Gas Price Spikes After Smaller Inventory Rise

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 92 billion cubic feet for the week ending May 15. Analysts expected a storage ...
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Crude Oil Inventory Decline Smaller Than Expected

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.7 million barrels last week, maintaining a total U.S. commercial ...
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Governments Pay $5.3 Trillion in Global Energy Subsidies

Government globally subsidizes consumers’ energy costs by a total of $5.3 trillion, about 6.5% of global GDP and more than the gross domestic product of all but the world’s largest ...
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refilling the car

Americans Spend Gasoline Savings on Rent, Food

The average U.S. household is expected to save about $650 to $700 annually while gasoline prices remain at their current low levels. That savings was projected to be a boon ...
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Arab oil

Saudi Arabian Oil Flowing to China, Not the US

Since 2000, imports of Saudi Arabian crude oil and refined products into the United States have declined from a high of about 1.9 million barrels a day to less than ...
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Oil drilling rig

Hedge Funds Cut Long and Short Positions in Oil as Rig Count Falls

In the week ended May 15, the number of rigs drilling for oil in the United States totaled 660, compared with 668 in the prior week and 1,531 a year ...
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Blue flames of gas stove

Natural Gas Price Jumps on Low Storage Addition

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 111 billion cubic feet for the week ending May 1. Analysts expected a storage ...
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Crude Oil Inventory Drop Does Not Support Higher Crude Price

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.2 million barrels last week, maintaining a total U.S. commercial ...
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IEA Says OPEC Has Not Won the Oil Price War

The International Energy Agency (IEA) issued its monthly Oil Market Report on Wednesday morning. In the May report the IEA said that April’s global crude oil supplies were flat with ...
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As Oil Forecasts Go Lower, an Expected $675 Annual Pay Raise per Household

The U.S. Energy Information Administration (EIA) has now lowered its expectations on oil prices and its production forecast in 2015 and 2016. The move may not be a shock to ...
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Flag of OPEC

OPEC Raises Crude Oil Demand Estimate

The Organization of Petroleum Exporting Countries (OPEC) released its May Oil Market Report Tuesday morning, and the cartel said that demand will rise by 1.18 million barrels a day in ...
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bakken map

Bakken Formation Still Has 6 Billion Barrels of Oil

How much recoverable oil does the Bakken Formation have? The most recent estimate of proved reserves is just under 6 billion barrels for the entire Williston Basin, which includes the ...
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Flag of OPEC

OPEC Production Jumps 210,000 Barrels a Day in April

The strategy that the Organization of Petroleum Exporting Countries (OPEC) outlined last November has taken hold with a vengeance. In an effort to limit the impact of U.S. production from ...
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Oil drilling rig

As Oil Rig Count Slips by 11, Hedge Funds, Producers Add to Long Positions

In the week ended May 8, the number of rigs drilling for oil in the United States totaled 668, compared with 679 in the prior week and 1,528 a year ...
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