Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update Note: Retail price is for all formulations of regular grade gasoline. The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both contributed to the decrease […]
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Data source: Bloomberg, L.P. Note: A front-month contract is a futures contract that is the closest to expiration. Benchmark Brent crude oil futures prices averaged $80 per barrel (b) in 2024, $2/b less than in 2023. Intraday prices stayed within a $24/b range, between $68/b and $93/b (after rounding), which was the narrowest trading range since 2019. […]
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Western officials have told Indian companies to “carefully evaluate their exports” to Moscow to avoid being sanctioned Officials from the US and EU have urged Indian exporters to evaluate their trade with Russia carefully to ensure compliance with their sanctions, according to a report by the Hindu Business Line. The outlet’s sources said that […]
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The restrictions target two major Russian producers, along with what Washington calls a “shadow fleet” transporting Russian oil The US Treasury on Friday announced a fresh round of sanctions against Russia, imposed in conjunction with the UK. The restrictions target Russia’s oil industry, including two major producers – Gazprom Neft and Surgutheftegaz – as well as their […]
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The US state of Alaska has sued the Biden administration for what it calls violations of a congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge (ANWR). The federal lawsuit in the US district court in Alaska filed on Monday challenges the federal government’s December 2024 decision to add restrictions to an […]
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Shell Houston-based oilfield service giant SLB has been awarded a series of drilling contracts by Shell to support energy development across its deep- and ultra-deepwater assets. The scope of the contracts will include digital directional drilling services and hardware, logging while drilling, surface logging, cementing, drilling and completions fluids, completions, and wireline services on assets […]
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Daily Standup Top Stories Chevron Targets $6-8 bln In Free Cash Flow Growth By 2026 January 8, 2025 Clark Savage Chevron Corp.(NYSE:CVX) is well positioned to grow its free cash flow by $6 billion to $8 billion by next year, and lower expenses by “a couple billion dollars,” Chevron CEO Michael Wirth announced on Wednesday. America’s second […] Salt […]
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Crude oil prices were flat on the day, after the U.S. Energy Information Administration reported an estimated inventory draw of 1 million barrels for the first week of 2025. The authority also estimated builds in fuel inventories but both gasoline and diesel stocks remain below the five-year average. The crude inventory draw compared with another modest of 1.2 million […]
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Chevron Corp.(NYSE:CVX) is well positioned to grow its free cash flow by $6 billion to $8 billion by next year, and lower expenses by \”a couple billion dollars,\” Chevron CEO Michael Wirth announced on Wednesday. America’s second largest oil and gas company expects to achieve these results thanks to the start of new or expanded oil production […]
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The US state of Alaska has sued the Biden administration for what it calls violations of a congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge (ANWR). The federal lawsuit in the US district court in Alaska filed on Monday challenges the federal government’s December 2024 decision to add restrictions to an […]
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