News

U.S. West Texas Intermediate (WTI) crude futures ended Friday's session 11 cents higher at $50.66 per barrel, the highest settle since May 24. The contract was up about 1.5 percent on the week, marking the third straight weekly gain. International benchmark Brent crude futures rose 38 cents to $56.81 a barrel at by 2:18 p.m. … Continue reading Refinery demand, not OPEC, is the key to keeping oil prices above $50 a barrel, analyst say

Reposted from Bloomberg https://www.bloomberg.com/news/articles/2017-09-17/oil-holds-advance-near-50-as-u-s-drillers-idle-more-crude-rigs By Jessica Summers Oil hovered below $50 a barrel as oil demand is seen decreasing with refiners set to begin seasonal maintenance. Futures slipped as much as 1.4 percent in New York after a 5.1 percent gain last week. Crude demand typically takes a hit when refineries shut down key units … Continue reading Oil Trades Near $50 as Demand Seen Dropping Amid Refinery Work

Reposted from Bloomberg https://www.bloomberg.com/news/articles/2017-05-22/why-the-permian-basin-is-opec-s-new-headache-quicktake-q-a By Mark Shenk May 21, 2017, 11:00 PM CDT A dry expanse straddling the Texas-New Mexico border has become such a bounty of energy that it’s now a threat to OPEC. Surging output from the Permian Basin, which has been described as a layer cake of oil and natural gas, is projected to … Continue reading Why the Permian Basin Is OPEC’s New Headache: QuickTake Q&A

Reposted from The Guardian In one of the more entertaining moments of COP22, the global climate conference held in Marrakech last week, the Chinese vice-foreign minister Liu Zhenmin, gave the absent US president-elect a short lesson in the history of climate diplomacy. Climate change, he explained, was not a Chinese hoax. In fact, long before the … Continue reading China emerges as global climate leader in wake of Trump’s triumph

Re-posted from The Diplomat http://thediplomat.com/2017/01/chinas-ambitious-new-clean-energy-targets/ By Ma Tianjie January 14, 2017 China’s 13th Five Year Plan on Energy Development (Energy 13FYP) might be one of the most anticipated energy blueprints in the world for its far-reaching implications for the carbon trajectory of the planet’s largest emitter. On January 5, 2017, the National Energy Administration finally unveiled the … Continue reading China’s Ambitious New Clean Energy Targets