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Tag Archives: crude exports

Dallas Fed: Energy indicators see continued increase

proven oil reserves

The most recent report from the Federal Reserve Bank of Dallas for June 2017 shows that many indicators for the oil and gas sector continued to increase in May. While WTI crude dropped slightly, production growth continues to stay strong, especially in the Permian basin. Below is a summary of the report from the Dallas Fed. For more details and graphs, be sure ...

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Economic pain predicted in Oklahoma amid slumping oil prices

OKLAHOMA CITY (AP) — Slumping energy prices and dwindling tax collections already have punched a $1.3 billion hole in Oklahoma’s budget for next year, but there may be more economic “pain on the horizon,” one of the nation’s top ratings agency said Tuesday. Moody’s Investors Service released detailed reports on California, North Dakota and Oklahoma as part of its research ...

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Zinke a key lawmaker in removing U.S. crude export ban

U.S. Rep. Ryan Zinke, R-Mont., is making his case for removing the national ban on crude exports. Zinke told journalists Wednesday the 1970s ban on exporting U.S. oil is hurting the economy, both nationally and in Montana. He estimated that increased Bakken activity resulting from oil exports would create 2,400 jobs in Montana, primarily in the Eastern Montana oil patch ...

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Energy experts, Colorado Senators weigh downside of Iran deal

Iran

DENVER — The Iran nuclear deal weighed heavy on oil industry minds Wednesday as they discussed global and domestic energy policy at the Colorado Convention Center. The 100-page agreement, which would lift sanctions against the country, allowing it back into the world energy market and supposedly limit its nuclear powers, has drawn the ire of many policymakers and many in ...

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Hamm is certain the export ban will be lifted by October just as OPEC reduces output

Harold Hamm

The global oil market is in for some big changes this fall if oil tycoon Harold Hamm’s crystal ball proves accurate. During a quarterly update conference call on Aug. 6, the Continental Resources Chairman and Chief Executive Officer predicted an “energy paradigm shift will have profound long-term consequences worldwide starting with the U.S. crude export ban being lifted so America ...

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U.S. shale and OPEC, the altered balance of power: Kemp

United States and OPEC: The shifting balance of power 1950-2015 chartbook. (The opinions expressed here are those of the author, a columnist for Reuters.) LONDON – Two landmark events this month will underscore the extent to which the oil market’s balance of power has been transformed by the shale revolution. In Washington, Congress will begin considering legislation to permit the ...

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What would it take to free U.S. oil exports?

WASHINGTON – Lawmakers pushing to repeal the 1970s-era ban on U.S. oil exports face a steep obstacle: The Obama administration sees no need to fully remove the restriction while the country is still importing part of its oil supply. And many politicians are wary of a voter backlash if gasoline prices go up just as they open the door to ...

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Felmy: oil prices bound to bounce back

The same factors that led to the U.S. fuel prices slump may also contribute to a rise in prices, American Petroleum Institute chief economist John Felmy told The Denver Post.  Felmy presented on the downturn to lawmakers in Denver yesterday. One of the main factors Felmy identified to have driven down oil prices was the United States’ massive oil production over ...

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Naimi says Saudi oil production near record high in April

SEOUL – Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom’s willingness to defend market share at a time when oil markets have staged a fragile recovery. There are worries among some producers that growing output from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries ...

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