NEWS

  • U.S. Oil Production To Fall More Than Expected This Year
    on August 12, 2020

    U.S. crude oil production will drop by an average of 990,000 barrels per day, according to the Energy Information Administration, for an average of 11.26 million bpd. That is a far greater loss than the agency expected during its previous forecast made in the July Short Term Energy Outlook.  In July, the EIA had forecast that crude oil production in the United States would fall by an average of 620,000 barrels per day for the full year 2020. The caveat? That the August STEO “remains subject to heightened levels of uncertainty because…

  • Iran Considers Allowing People To Invest In Oil On Local Exchange
    on August 12, 2020

    Iran is considering letting residents invest in oil on the domestic energy exchange, Iranian President Hassan Rouhani said, as the Islamic Republic’s economy and its people are struggling with the coronavirus outbreak, low oil prices, and U.S. sanctions on Iran’s energy, shipping, and banking industries.    “The government, especially the economic board, has always been trying to adopt and implement policies and measures to control liquidity and direct it to the right path and production cycle,” the official website of the Iranian president…

  • EIA shows oil and refined stock drop across the board
    on August 12, 2020

    The latest report from the EIA shows oil and refined stock drop across the board. We have the latest analysis and insights. The post EIA shows oil and refined stock drop across the board appeared first on GasBuddy for Business.

  • Gas Prices Feel Frozen as Oil Markets Hold Steady
    on August 10, 2020

    The national average price of gasoline has continued to move lower in the last week, falling 1.1 cents per gallon over the last week to $2.16 today according to GasBuddy data compiled from more than 11 million individual price reports. The post Gas Prices Feel Frozen as Oil Markets Hold Steady appeared first on GasBuddy for Business.