Active U.S. drilling rigs fell by four last week, down by about 295 from pre-pandemic levels, according to Baker Hughes.
TC Energy reported that last week’s 14,000-barrel spill from its Keystone pipeline, its third significant spill in the past five years, is contained as emergency crews continue cleaning up affected waterways in Kansas and Nebraska. About 622,000 bpd of Canada-to-U.S. oil flows have been lost without a definite timeline for restarting.
OPEC+ production was 1.81 million bpd short of the group’s reduced quota in November, new data shows.
China’s fuel exports will likely surge this month as refiners rush to use their export quotas amid declining demand at home.
U.S. refiner Phillips 66 plans to raise spending on new projects next year by 6%, including for a new plastics plant.
Venezuelan gas stations are running out of fuel as the country struggles to import enough supply to meet demand.
Colombia’s state-owned oil company plans to invest $6.2 billion next year on boosting production and improving the nation’s energy security.
Cold temperatures boosted European demand for natural gas by 44% the past month, testing the continent’s readiness for winter without Russian energy. An unusually warm November allowed storage sites to remain well-stocked.
The backup of dozens of oil tankers in Turkey’s Bosphorus strait started to clear Sunday after several days of wrangling over insurance issues.
Fuel demand in India, the world’s third largest crude importer, jumped over 10% in November as the nation ramped up purchases of heavily discounted Russian oil.
Estimated costs for Germany’s plan to charter five floating LNG terminals have tripled to more than $10.2 billion, officials say.
Cotton prices have fallen 47% since hitting an 11-year high in May, a welcome development for clothing retailers facing uncertain demand
The daily average for new COVID-19 cases rose to 65,569 last week from 43,825 the week before, while average fatalities rose to 426 from 263. New cases are up 56% from two weeks ago, while deaths are up 40% during that period.
The daily average of new COVID-19 hospitalizations in the U.S. jumped 20% last week from the week before.
The CDC recommends people in roughly 13% of the U.S. start wearing masks again due to high risks of COVID-19.
Overall U.S. hospital bed occupancy rose to 80% last week, a figure not seen since the Omicron surge last winter.
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