New study forecasts higher oil prices #OilmanNEWS Alex Mills Contributors Oil and Gas News 

New Study Forecasts Higher Oil Prices

Crude oil prices have stalled recently, but one projection has prices rising because of tighter supplies and increased oil supply risks. The forecast comes from the Department of Energy’s Energy Information Administration (EIA), and it predicts that Brent crude oil will average $70 per barrel in 2019, which is higher than any previous forecast in 2019. “The 2019 Brent crude… Read More
US Oil, Gas Industry Sets Production, Export Records #OilmanNEWS Alex Mills Contributors Oil and Gas News Texas 

US Oil, Gas Industry Sets Production, Export Records

Texas has a reputation of being a leader in energy production from coast-to-coast. That reputation has grown internationally as Texas leads the nation with dramatic increases in oil and natural gas production and exports. The International Energy Agency (IEA) recently called the rise in production in Texas and the U.S. “the standout champion of global supply growth” and it expects… Read More
U.S. cancels waivers to Iranian oil sanctions #OilmanNEWS Alex Mills Contributors Oil and Gas News 

US Cancels Waivers to Iranian Oil Sanctions

Forty years ago Iran used the “oil weapon” against the United States as it sought to influence its support of Israel. Today, President Trump is using the “oil weapon” in an attempt to stop Iran’s attempt to develop nuclear capability. President Trump’s administration said on Monday any country purchasing oil from Iran after May 1 will face sanctions and all… Read More
International energy issues become more complex #OilmanNEWS Alex Mills Contributors Oil and Gas News 

International Energy Issues Become More Complex

The world of international energy politics became even more intriguing recently with Russia participating in OPEC, the President of the United States calling on OPEC to increase production because gasoline “is too high,” the rapid increase in oil and natural gas production and exports in the U.S. making it a net exporter for the first time, and the acquisition of… Read More
Gas Prices #OilmanNEWS Alex Mills Contributors Oil and Gas News 

Gasoline Prices Should Be Lower This Summer

Gasoline prices should average a few cents less this summer than last year, according to a study released this week by the Energy Information Administration (EIA). EIA expects the retail price of regular-grade gasoline will average $2.76 per gallon from April to September, which is down from the 2018 summer average of $2.85 per gallon. EIA forecasts motor gasoline consumption… Read More
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