Price Watch
A daily bulletin about oil and gas
The Futures
Oil and gas prices are more than numbers—they reflect global events, technological advancements, and environmental concerns.
Horizon Energy Digest
Decline in natural gas price drove decrease in U.S. oil producer revenue in early 2024
In the first quarter of 2024, U.S. oil producers saw a 12% drop in revenues due to falling natural gas prices. Despite this, crude oil production increased by 5% to nearly 4.2 million barrels per day. Production costs stabilized at an average of $26 per barrel, while natural gas prices hit their lowest level since at least 1997, dropping by 26%.
Geopolitical Risk Is Pushing Oil Prices Higher But Uncertainty Remains
Crude oil prices have risen due to Middle East tensions and support from the U.S. Fed’s rate cuts and China’s stimulus plans. Despite concerns about Chinese demand, the impact on supply has been limited. Prices may stay high but could face pressure as the effects of the Fed’s actions diminish.
Curious Minds Corner
Question of the week
Which country is the largest producer of crude oil in the world?
The first person to answer the week’s question wins a reward from LDV Consulting. Good Luck!