Monday, Aug 08, 2022 - 06:05:59
11 results - (0.003 seconds)

increase in output:

latest news at page 1:
1
    Oil output from the Permian Basin is slated to rise to a record-breaking high of 5.316 million barrels per day in July, according to a new report from the U.S. Energy Information Administration — an increase that comes even as high inflation and a lack of refining capacity threaten to keep prices largely unchanged. According to the EIA’s Drilling Productivity Report, oil output in the Permian Basin, the prolific shale basin that stretches across Texas and New Mexico, is expected to increase by 84,000 barrels per day. CHINA OVERTAKES GERMANY AS LARGEST IMPORTER OF RUSSIAN ENERGY Total output from major U.S. shale oil basins, meanwhile, is expected to rise to 8.901 million barrels per day, the highest point since March 2020, per the EIA. Meanwhile, the number of drilled but incomplete, or DUC, wells, is at its lowest point since 2013, the EIA said. The number of available DUCs has fallen for 23 consecutive months, Reuters reported. The record-high Permian output levels come after a monthslong push from the Biden administration to increase drilling and...
    WASHINGTON (AP) — U.S. industrial production rebounded in October as automakers, stung by supply chain problems, posted a strong increase and the adverse effects from Hurricane Ida faded. Industrial production rose 1.6% last month after a 1.3% plunge in September, the Federal Reserve reported Tuesday. The September weakness reflected severe shortages of semiconductor chips that contributed to a fall in auto production and the lingering impacts of Hurricane Ida which disrupted oil and gas production along the Gulf Coast. In the major industry groups, manufacturing activity rose 1.2% while mining, which includes oil and gas production, surged 4.1% and output at the nation’s utilities was up 1.2%. The overall 1.6% increase in industrial output was better than economists had been expecting. Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
                      by Kendall Tietz  Oil prices climbed to a six-year high Tuesday as the Organization of the Petroleum Exporting Countries (OPEC) and Russia continue to tamp down on global output, The Wall Street Journal reported. An OPEC meeting was called off Monday, the WSJ reported. It was the group’s third attempt to discuss surging prices and an increase in oil consumption amid an opening global economy. July 4th gas prices were among the highest in almost seven years at a national average of $3 a gallon, the WSJ reported. The price and demand increase is causing concern among executives and OPEC leaders that higher prices could impact the economic recovery from the pandemic and ramp up inflation. During the pandemic, OPEC agreed to keep crude oil in the ground to limit supply, the WSJ reported. The United Arab Emirates backed out of the meeting Monday because it didn’t want to agree to a Saudi-backed deal to boost output.  Oil jumps as OPEC+ fail to reach agreement https://t.co/LXkCDRZO5t pic.twitter.com/KU4x8c16xs — Bloomberg Markets (@markets) July 5, 2021 OPEC and its allies have three...
    Oil prices climbed to a six-year high Tuesday as the Organization of the Petroleum Exporting Countries (OPEC) and Russia continue to tamp down on global output, The Wall Street Journal reported. An OPEC meeting was called off Monday, the WSJ reported. It was the group’s third attempt to discuss surging prices and an increase in oil consumption amid an opening global economy. July 4th gas prices were among the highest in almost seven years at a national average of $3 a gallon, the WSJ reported. The price and demand increase is causing concern among executives and OPEC leaders that higher prices could impact the economic recovery from the pandemic and ramp up inflation. (RELATED: There’s Never Been A Better Time To Watch The Gas Crisis Episode Of ‘It’s Always Sunny In Philadelphia’) During the pandemic, OPEC agreed to keep crude oil in the ground to limit supply, the WSJ reported. The United Arab Emirates backed out of the meeting Monday because it didn’t want to agree to a Saudi-backed deal to boost output.  Oil jumps as OPEC+ fail to reach agreement https://t.co/LXkCDRZO5t pic.twitter.com/KU4x8c16xs — Bloomberg...
    Mar 26 (.) – Goldman Sachs expects OPEC + to keep its oil production unchanged for May, when the group meets next week, and to continue making “still the big rise of 3.4 million barrels per day that is expected. for September, “the bank said Friday. Sources told . earlier in the week that they expect a decision similar to that of the last appointment when the Organization of the Petroleum Exporting Countries and a group of Russian-led allies, known as OPEC +, meet on April 1 to decide their pumping policy. The group agreed to extend most of the cuts to crude pumping until April when it met earlier in the month, though it allowed Russia and Kazakhstan a modest 150,000 barrels a day hike. “This remains well above the production increase expected by OPEC and the IEA given our higher demand forecasts, as well as being a feat for a group of producers that cut their extraction by 50% in the last year,” added Goldman Sachs. Crude prices rose more than 3% on Friday, but were still on...
    SILVER SPRING, Md. (AP) — U.S. industrial production rose 1.6% in December, a third straight monthly gain, but remains below its pre-pandemic level. The December gain in industrial output followed a 0.5% increase in November and a 1% increase in October, the Federal Reserve reported Friday. Even with those gains, industrial output is still about 3.3% below its level in February before the pandemic hit. Manufacturing increased 0.9% while mining production rose 1.6%. Utilities’ output rose 6.2% as a rebound in December demand followed unseasonably warm weather in November. U.S. industry operated at 74.5% of capacity in December, still below the pre-pandemic rate of 76.9% in February. Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    By MARTIN CRUTSINGER, AP Economics Writer WASHINGTON (AP) — U.S. industrial production increased 0.4% in November with manufacturing receiving a boost from a rebound in output at auto plants after three months of declines. The Federal Reserve reported Tuesday that the November gain in industrial output followed an even stronger 0.9% increase in October. Even with the gains, industrial output is still about 5% below its level in February before the pandemic hit. Manufacturing was up 0.8% in November, its seventh consecutive monthly gain, with last month's increase boosted by a rebound in auto production. Production of motor vehicles and parts rose 5.3%, the biggest monthly increase since a 31% surge in July. However, after that jump following spring lockdowns, auto production fell in August, September and October. Output in the mining sector, which includes oil and gas production, rose 2.3% while utility output fell 4.3%, a decline that reflected unseasonably warm weather in November. U.S. industry operated at 73.3% of capacity in November, still below the pre-pandemic rate of 76.9% in February. “There are huge swaths of excess capacity...
    WASHINGTON – U.S. industrial production increased 0.4% in November with manufacturing receiving a boost from a rebound in output at auto plants after three months of declines. The Federal Reserve reported Tuesday that the November gain in industrial output followed an even stronger 0.9% increase in October. Even with the gains, industrial output is still about 5% below its level in February before the pandemic hit. Manufacturing was up 0.8% in November, its seventh consecutive monthly gain, with last month's increase boosted by a rebound in auto production. Production of motor vehicles and parts rose 5.3%, the biggest monthly increase since a 31% surge in July. However, after that jump following spring lockdowns, auto production fell in August, September and October. Output in the mining sector, which includes oil and gas production, rose 2.3% while utility output fell 4.3%, a decline that reflected unseasonably warm weather in November. U.S. industry operated at 73.3% of capacity in November, still below the pre-pandemic rate of 76.9% in February. “There are huge swaths of excess capacity throughout the U.S. economy that...
    U.S. productivity increased at a solid 4.6% pace in the July-September quarter, slightly below the initial estimate, while labor costs fell at a slower pace. The third quarter increase in productivity was below the first estimate a month ago of a 4.9% increase, the Labor Department reported Tuesday. Productivity had surged at a 10.6% rate in the second quarter. Labor costs fell at a 6.6% rate in the third quarter , a smaller drop than the 8.9% decline estimated a month ago. Productivity, the amount of output per hour of work, is the major factor determining living standards. As productivity rises, employers can pay their workers more without having to boost the price of their products. The revisions reflected the fact there was a 0.1 percentage-point downward revision in output and a 0.3 percentage-point upward revision to hours worked. Economists cautioned the swings in productivity this year have been unusually large and are distorting the underlying trend in productivity. "The data have been especially volatile quarter-to-quarter reflecting the impact of COVID-19 on output, hours and compensation," said Rubeela Farooqi, chief...
    A welder builds parts for finished petroleum tanks at Southern Tank and Manufacturing Inc. in Owensboro, Kentucky, U.S.Ty Wright | Bloomberg | Getty Images American industry continued to regain ground lost in the coronavirus recession last month, but production remains well below where it was before the pandemic struck. The Federal Reserve reported Friday that industrial production — including output at factories, mines and utilities — climbed 3% in July after surging 5.7% in June. Still, production remains 8.4% below its level in February before the outbreak began to spread rapidly in the United States. Factory output rose 3.4% last month, pulled higher by a 28.3% gain in production of cars, trucks and auto parts. Mining production ticked up 0.8%, snapping five straight months of decreases. Utility output climbed 3.3% as hot weather forced many Americans to turn on the air conditioner. Industry was running at 70.6% of capacity, up from its April low of 64.2% but well below its long-term (1972-2019) average 79.8%. The coronavirus, the lockdowns meant to contain it, and the wariness of consumers and businesses in...
1