ENERGY

By Tsvetana Paraskova of OilPrice.com

Norway saw cash flow from its stakes in oil and gas fields nearly halve in the first quarter of 2024 compared to the same period of 2023, as natural gas prices slumped and gas consumption in Europe was below expectations, said state company Petoro, which manages field holdings of Western Europe’s top oil and gas producer.

In the first quarter of the year, Petoro delivered a cash flow of $5.4 billion (60 billion Norwegian crowns) from the (more…)

By Tsvetana Paraskova of OilPrice.comPermian producers are not shutting in oil wells with associated natural gas despite the fact that the Texas regional gas price has been stuck at below-zero…

Oil prices extended losses overnight (3rd day lower in a row) following API's report showing an unexpected crude build. Rising stocks would add to bearish headwinds for prices driven by hopes that peace (or some such variant of it) may break out in the Middle East.

Additionally, OPEC’s crude production stayed steady last month, leaving the group’s latest cutbacks incomplete.

The Organization of Petroleum Exporting Countries pumped 26.81 million barrels a day in April, about (more…)