US Considers Tapping Strategic Reserves as Oil Hits New HighsTHE US government yesterday revealed it was considering the unusual step of dipping into its strategic oil reserves as crude prices hit a fresh all-time high yesterday.
Later today expect data on EIA, as analysts predict oil reserves to increase by 4.75 million barrels, which will lead to a new historical record overseas. The ICE dollar index is still trading near 12-year high against the prospects for an early rise in interest rates by the Federal Reserve...
Findings are presented for the total US, as well as State and selected geographic areas, on proved reserves of crude oil, natural gas, and natural gas liquids as of December 31, 1982. Production volumes are also provided for each of these three categories. Data are also presented on notable...
China has a number of strategic energy partnerships and trade agreements with Iran as well, but US sanctions along with COVID-19 also threw a curveball into their trade situation. China is Subverting the Petrodollar System For the past seven years, China has been using the petrodollar system ...
Strong oil and natural gas prices in 2018 drove the increase in oil and natural gas proved reserves in the US to these record levels. “The US increased its proved reserves of oil and natural gas, establishing new records in 2018 according to a recently released EIA ...
ConocoPhillips is one of the world’s largest independent E&P companies based on oil and natural gas production and proved reserves.
Following news that the Federal Reserve is still planning to cut interest rates this year, the price of crude oil rose because it boosted risk appetite and put pressure on the US dollar. After experiencing its biggest decline in nearly a month on Wednesday, oil rose to around $87 per ...
In the meeting with Sullivan, which focused on matters related to international security, the two sides “reaffirmed their desire to maintain this strategic channel of communication and to pursue additional high-level diplomacy, including working together towards a meeting between President Biden and ...
Oil majors' price-to-earnings ratios. Credit: The Conversation The strategic divide Since 2021, BP has plowed 8%-to-12% of annual capital expenditure (capex)into renewables, mainlyoffshore windand charging infrastructure for electric vehicles (EV). Shell focuses mostly onsolar and wind, spending...
How Did the Global Oil Trade Settle in U.S. Dollars in the First Place? Following the collapse of the Bretton Woods system in 1971, which ended the U.S. dollar's convertibility to gold, the dollar's value began to decline. The U.S. formed a series of strategic agreements with Saudi...