Author Archive: AEN Staff

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Oil prices reach six-week high on larger-than-expected drop in US crude stocks

Oil prices reach six-week high on larger-than-expected drop in US crude stocks

Oil prices up 2 per cent Oil prices were up over 1 per cent on Wednesday after data from the US Energy Information Administration showed a larger-than-expected draw in crude stocks and a surprising drop in distillate inventories. Brent crude futures for September ended the day up 86 cents to $49.70 and US WTI for […]

EVs news brief: Porsche to launch first battery-only model in 2019; Ifo reports job losses on German ICE ban

EVs news brief: Porsche to launch first battery-only model in 2019; Ifo reports job losses on German ICE ban

Porsche EVs sales could reach 25 per cent of total sales by 2025 Porsche says it will spend one billion euros to overhaul its main Stuttgart plant where it will build its first battery-only model, the Mission E saloon. The car is expected to be available in 2019. The company sees a switch in markets […]

Kuwaiti oil minister says OPEC cuts working, market in balance by March

Kuwaiti oil minister says OPEC cuts working, market in balance by March

OPEC cuts within range, despite increased production from Libya, Nigeria Kuwait’s oil minister said while the world oil market is taking longer to rebalance than expected and the global oversupply glut should be cleared by the end of March 2018, making further OPEC cuts unnecessary. Essam al-Marzouq told Reuters the cartel does not need to […]

Forecast for US shale oil output up in August to 5.6 million b/d: EIA

Forecast for US shale oil output up in August to 5.6 million b/d: EIA

US shale output expected to rise for eighth straight month On Monday, the US Energy Information Administration projected US shale production would increase in August to 5.585 million barrels per day (b/d), up 112,000 b/d. Should the estimate from the agency’s monthly drilling report prove true, US shale output will be at its highest level […]

Opinion: US uncompleted wells backlog hangs over oil market

Opinion: US uncompleted wells backlog hangs over oil market

Over 6,000 uncompleted wells across seven largest shale plays By John Kemp LONDON, July 18 (Reuters) – U.S. oil and gas exploration and production companies are drilling new wells faster than they can be fractured and hooked up to gathering systems, creating a growing backlog of drilled but uncompleted oil and gas wells. By June, […]

Oil prices rise on strong demand, but market remains tight

Oil prices rise on strong demand, but market remains tight

Oil prices rise, but market players wait for next price catalyst On Tuesday, oil prices rose as demand for crude, particularly in China, helped tackle the global oil supply glut, but Reuters reports traders say the market remains in a tight range and shows few signs of big short-term moves. Brent crude settled up 42 […]

Clean energy brief July 18: Renewables do not harm power grid reliability – draft US report

Clean energy brief July 18: Renewables do not harm power grid reliability – draft US report

Also in this brief: 1) Smart street lights transforming local utilities 2) Virtual power plants, “trans-active energy” platforms putting consumers in charge Draft study not yet vetted by political staff, renewable energy industry fears political interference from Trump Administration A draft of a study by the US Department of Energy shows the expansion of renewable […]

As Chevy Bolt inventories swell, GM extends plant shutdown

As Chevy Bolt inventories swell, GM extends plant shutdown

Chevy Bolt sales amount to 7,592 in first six months of 2017 General Motors is extending the shutdown of its plant in Michigan that builds the Chevy Bolt electric car. ┬áThe company says the move is part of a broader effort to take control of growing inventories of unsold vehicles in the US. In June, […]

TD Bank senior investment advisor resigns after Blackbird Energy shares probe: Reuters

TD Bank senior investment advisor resigns after Blackbird Energy shares probe: Reuters

Blackbird Energy raised $84.8 million on share offering in March Reuters reports a senior investment advisor at the TD Bank resigned in April after an internal investigation by the company discovered he had sold Blackbird Energy Inc shares to risk-averse customers. Two Reuters sources said the advisor, Jeff Ber, also received an unauthorized payment from […]

Oil prices brief July 16: Prices ease on output concerns, higher consumer demand only real fix

Oil prices brief July 16: Prices ease on output concerns, higher consumer demand only real fix

Oil prices supported by share drop in US crude stocks Oil prices fell on Monday by about one per cent as investors’ concerns about increasing global stocks were overshadowed by strong indications that the OPEC-led supply cut pact is working. Brent crude fell 49 cents to settle at $48.42/barrel and US crude was down by […]