While renewable power generation from wind and solar continues to capture much of the peak power demand in The Electric Reliability Council of Texas, demand for gas-fired cooling is also up.

U.S. commercial crude oil inventories decreased by 3.8 million barrels to 463.3 million barrels.

Brent dipped 17 cents, or 0.2%, to $75.50 a barrel, WTI dropped 16 cents, also 0.2%, to $70.46 a barrel.

Believe it or not, the concept of reserve power is a foreign one in Texas. The bill passed with a caveat: any increase in costs could not exceed $1 billion annually.

The city council in Austin, Texas is on the verge of signing on to the Fossil Fuel Non-Proliferation Treaty (FFNPT), a global campaign calling on countries to phase out fossil fuel production and help communities make the transition to a renewable energy economy.

U.S. commercial crude oil inventories increased by 7.9 million barrels to 467.1 million barrels.

Brent dropped 35 cents, or 0.5%, to $75.61 a barrel, WTI eased 35 cents, or 0.5%, to $70.94.

«Реализация поставленной Президентом задачи по достижению углеродной нейтральности к 2060 году невозможна без сбалансированного развития всех видов генерации, которое, в свою очередь, позволяет избежать дефицита мощности, ценовых скачков, оптимально использовать местные энергетические ресурсы», – подчеркнул Андрей Максимов.

The Brent crude oil spot price will average $79 per barrel (b) in the second half of 2023 (2H23) and $84/b in 2024.

The kingdom’s energy minister Prince Abdulaziz bin Salman, Opec’s de facto leader, made the move as part of a deal in which several weaker African members will have quotas reduced from next year.

Ожидаемый объем дополнительных нефтегазовых доходов федерального бюджета прогнозируется в июне 2023 года в размере -44,0 млрд руб.

U.S. commercial crude oil inventories decreased by 0.5 million barrels to 459.2 million barrels.

The Worldwide Rig Count for May was 1,783, down 25 from the 1,808 counted in April 2023, and up 155, from the 1,628 counted in May 2022.

Brent rose 34 cents, or 0.46% to $74.62 a barrel, WTI rose 30 cents, or 0.43%, to $70.40.

Last fall, when the Institute for Energy Economics and Financial Analysis looked into the world’s 13 “flagship, large-scale” CCS projects, representing about 55% of global carbon capture capacity, it found that seven of the 13 projects underperformed, two failed outright, and one had to be mothballed.