Brent and WTI both fell last week as supply outages eased and Russia and other producers continued to reiterate that they could provide additional supplies if needed.
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Ashley Petersen
EIA_EPA_Brent Kavanaugh_Andrew Wheeler_Brent Crude
Also in the headlines this week, the EIA reported U.S. crude stocks fell nearly 13 million barrels last week. Oil prices rebounded on the news but then later retreated
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Jessica Morales
Brent prices were nearly flat, up only 37 cents to average $77.56/bbl. WTI prices saw more support, rising nearly $2 to average $73.71/bbl.
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Ashley Petersen
Mexico_ConocoPhillips_Chevron_North Sea_OPEC_Trump
Chevron joins other majors in scaling back North Sea presence.
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Jessica Morales, Hart Energy
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At DUG East, executives and experts touted Appalachia’s natural gas potential and pick up in infrastructure projects.
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Jessica Morales
Brent prices rose $2.44/bbl to average $77.19/bbl. WTI prices rose $5.54/bbl to average $71.79/bbl.
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Ashley Petersen
GE_Baker Hughes_Chevron_ExxonMobil_OPEC_Nord Stream 2
Also this week, U.S. and Russia energy leaders talked Nord Stream 2 at the World Gas Conference, while Chevron and Exxon Mobil CEOs expressed trade conflict concerns.
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Jessica Morales
In the week since our last edition of What's Affecting Oil Prices, Brent prices fell nearly a dollar to average $74.75/bbl after the OPEC meeting.
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Ashley Petersen
OPEC_DrillingInfo_Genstar Capital_China_Tariffs
Also this week, Drillinginfo Co-founder Allen Gilmer discusses the company's bevy of recent deals.
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Jessica Morales
Brent prices fell $0.27/bbl to average $75.69/bbl while WTI actually saw some recovery, up $0.87/bbl to average $66.21/bbl.
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Ashley Petersen
Saudi_OPEC_President Trump_Pioneer Natural Resources_Phillips 66_Exxon Mobil
Also this week, Phillips 66 to expand Texas NGL project. Meanwhile, Exxon Mobil and Plains pursue Permian pipeline JV and Pioneer sells Colorado assets.
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Jessica Morales
Barring a geopolitical surprise, we expect that Brent will average around $75/bbl this week, with highs seen early in the week before leveling off after the Singapore summit.
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Ashley Petersen

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