Saudi Arabia to cut oil output in new agreement into 2024 that may support long-term LNG contract prices
Long-term contract prices of liquefied natural gas linked to crude oil are set to increase in the weeks ahead as the Organisation of Petroleum Exporting Countries led by Saudi Arabia and other Non-OPEC oil-producing countries opted at a summit in Vienna to extend cuts in oil production through 2024 and with the Saudis making an additional reduction in their own output.
Annual BP Statistical Review reports highest natural gas and LNG cargo prices amid energy market rebound
The “Annual BP Statistical Review of World Energy”, published for the past 71 years, reported that natural gas prices rebounded strongly across all three major gas regions, rising four-fold to record annual levels in Europe and tripling in the Asian LNG spot market.
Shell's profits surge amid 12 percent rise in LNG sales and details Russian market exit measures and costs
Shell reported an almost three-fold jump in earnings to $9.1 billion compared with $3.2Bln in the same three months of 2021 as quarterly LNG sales increased along with oil and refined product prices.
European natural gas soars over $50 per MMBtu level as North Sea Brent oil hits $117 amid Ukraine conflict
European wholesale natural gas prices and LNG values soared to record levels over $50 per million British thermal units on March 3 as the North Sea Brent crude oil price jumped to a nine-year high of more than $117 a barrel.
Oil prices drop to two-month low under $40 a barrel as LNG prices and indicators also lose ground
North Sea Brent crude oil prices dropped under $40 per barrel after previously staying in the $41-$45 a barrel range for the previous two months, while spot LNG and natural gas prices declined on demand concerns related to the slowing economic recovery in China and Europe.
