The US government jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth.
The US Energy Inform
Over the next three decades, world energy consumption is projected to increase by 56 per cent, driven by growth in the developing world, according to a report released today by the US Energy Information Administration (EIA).
Brent futures dropped toward $102 on Wednesday after an unexpected jump in oil inventories in the world's largest consumer, the United States, while producer cartel Opec and the US government both trimmed global demand forecasts.
The shale revolution is likely to have a far bigger effect on the global gas market than on oil supplies, entrenching the long-term price advantage of gas, according to new data from the Energy Information Admini
The world's spare oil production capacity outside of Iran rose slightly in the last two months, but a seasonal jump in winter heating consumption led to drawdowns from global stocks, the US government said on Thursday in a
The United States is bringing forward by several years the date at which it expects to become a net exporter of natural gas, the country's top energy adviser said on Tuesday in the latest boost for the government's ener
Global oil demand growth will accelerate next year, while non-Opec production will remain flat, driving oil prices to an average $99 a barrel, the US government said in its first energy forecast for 2012.
The Department of Energy also said
The US government has boosted its forecast for global oil demand growth this year and next, with developing countries driving consumption despite a slower outlook for the US economy.
In its latest monthly report, the US Energy Information
Oil pared losses and held above $74 after data showing Chinese overall exports surged in May offset weaker demand readings in top consumer the US.
China's exports rose 48.5 per cent in May from a year earlier, the General Administratio