Author Archive: Jordan Gleason

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Can Saudi Arabia Prevent The Next Oil Shock?

The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from Asian consumers) Saudi […]

Fenstermaker in Lafayette expands services in Permian Basin region of Texas

Fenstermaker in Lafayette expands services in Permian Basin region of Texas

Fenstermaker announced the expansion of its services in the Permian Basin region of Texas to meet growing demands of its clients there. The Lafayette company said its Midland, Texas, office is positioned to grow its client base with survey and mapping services and also provide support services in the areas of environmental consulting and engineering. […]

Crude Oil Investors Back Off Brent, Pick Up WTI

Crude-oil investors aren’t pumped for the Organization of the Petroleum Exporting Countries (OPEC), Russia, and its allies following rumors that the group may consider a proposal to raise oil production by as much as 1.8 million barrels per day. Investors panned Brent crude, the global benchmark, but picked up West Texas Intermediate, the benchmark for North American oil, […]

United States, Saudi Arabia and Russia find agreement on oil policy

It is unusual for the United States, Saudi Arabia and Russia to see eye-to-eye, much less try to achieve common energy-policy goals, even indirectly. But that is what seems to be happening, and it is taking the edge off the yearlong rise in oil and gasoline prices. Even if those countries have their own reasons […]

Permian expected to experience ‘stunning’ growth

Already growing at unprecedented levels, Permian Basin energy output is forecast to experience “stunning” growth through 2023, a new report finds. Permian Basin oil production will rise by nearly 3 million barrels a day by 2023, exceeding most recent estimates and comprising more than 60 percent of the globe’s net oil production growth, according to […]

Oil Set for Weekly Loss in London as OPEC Clash on Supply Looms

Oil headed for a second weekly decline in London as OPEC members were set to clash on raising production at a meeting next week. Brent crude slipped on Friday, on course for a 1.5 percent drop this week. Saudi Oil Minister Khalid Al-Falih said it’s “inevitable” the group will decide to boost output gradually when […]

OPEC divisions on whether to increase production run deep

Divisions among key OPEC producers run deep, with competing perspectives emerging in statements Thursday on whether or not to increase oil production. U.S. President Donald Trump turned again to Twitter this week to complain to OPEC that oil prices, at around $75 per barrel for Brent, the global benchmark, were too high. Ironically, it was […]

Oil prices lifted by Libyan oil production outage

Crude oil prices edged slightly higher early Thursday after reports of the loss of Libyan oil production, though the downturn was balanced by OPEC pledges. The National Oil Corp. of Libya said Thursday it evacuated staff from two of its export terminals because of armed clashes in the port area. It estimated production was down […]

Natural Gas Price Slips on Large Build to Stockpiles

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stockpiles increased by 96 billion cubic feet for the week ending June 8. Analysts were expecting a storage injection of between 83 and 93 billion cubic feet. The five-year average for the week is an injection of 91 billion cubic feet and […]

Pipe Dream? Chevron, Woodside Vie to Shape Australia’s LNG Sector

After spending a decade and billions of dollars developing Australia’s vast gas reserves, U.S. energy giant Chevron Corp and local firm Woodside Petroleum are at odds over the pace and timing of the next leg of expansion. Shipments of liquefied natural gas (LNG) have become one of Australia’s biggest exports and a key source of […]