THE STATUS OF NATURAL GAS IN 2023: The energy crisis has greatly improved the prospects for natural gas as governments increasingly court suppliers and commit to building out new infrastructure.
As the Russia-Ukraine war loomed, gas interest groups in the U.S. also began arguing more frequently that the Biden administration should support more production and exports to help allies — and it is. German, Portuguese, and British firms have also entered into long-term agreements in recent months, including with U.S. and Qatari suppliers.
Five OPEC+ sources told Reuters that they are unlikely to leave their current policy unchanged during next week’s meeting, which will be held virtually."We will certainly discuss China's economy and inflation," one source said."There are no expectations for this meeting. This will not be an OPEC+ meeting, but only a JMMC with no decisions or recommendations."
The biggest single-week drop-offs were seen at ports in the Pacific, which dropped by nearly half during the past seven days, Bloomberg reports. Smaller declines were recorded in Russia’s exports to ports in the Arctic and Black Sea. Remember, the DOE rejected bids for a pilot purchase of up to 3 million barrels to begin refilling the reserve after last year’s drawdowns, saying the bids did not meet their requirements for specification or price. Granholm told reporters yesterday to"stay tuned" for an announcement on the next steps to begin replenishing the stockpile.
The Washington state Republican also took aim at Granholm’s remarks on gas prices, noting in a statement this morning that gas prices have increased over the past month by an average of 30 cents nationwide, offsetting much of the 40-cent price decrease touted by the administration.