14
ENERGY NEWS
By Tsvetana Paraskova
US
ENERGY REVIEW
Over the past month, the US Administration called on the OPEC+ alliance to ramp up production to ease the upward pressure on petrol prices, while US production rose to its highest level in 15 months. Employment in the US oilfield services sector increased for yet another month amid slow but steady recovery in activity, the consolidation wave in the US shale patch continued, while the industry continues to fight the Administration’s federal lease moratorium. .
US administration urges OPEC+ to boost production The US Administration said on 11 August that the price of crude oil this summer had been higher than the prices seen in December 2019, before the start of the pandemic.
The energy technology and services sector in all of the US added an estimated 6,082 jobs in July
“Although we are not a party to OPEC, the United States will always speak to international partners regarding issues of significance that affect our national economic and security affairs, in public and private. We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices. Competitive energy markets will ensure reliable and stable energy supplies, and OPEC+ must do more to support the recovery,” the national security advisor noted.
Administration will just stay out of the way. Allow American workers—not OPEC—produce the oil that can reduce the price of gasoline. Don’t make us dependent on foreign sources of energy,” said Texas Governor Greg Abbott. Energy Workforce & Technology Council CEO Leslie Beyer said:
Despite the OPEC+ group’s agreement to ramp up production, the pace of the increases will not fully offset the cuts until well into next year, according to the US.
OPEC+ didn’t reply to the US call for higherthan-planned production increases, while the US industry’s response was one of criticism aimed at President Joe Biden’s Administration for wanting more foreign oil on the market while stifling domestic output with a federal leasing moratorium.
“The White House’s encouragement of OPEC to boost oil production runs counter to the Administration’s stated environmental and economic goals, and would only serve to damage the US economy, our energy security and overall efforts toward a lower-carbon future. Since taking office, the Biden Administration has aggressively sought to curtail domestic production, which occurs safely and efficiently under the world’s most stringent environmental framework.”
“At a critical moment in the global recovery, this is simply not enough,” Sullivan said.
“Dear White House: Texas can do this. Our producers can easily produce that oil if your
“Rather than banning oil and gas development on federal lands and targeting oil and gas
“Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery,” US National Security Advisor Jake Sullivan said in a statement issued by the White House.
www.ogv.energy I September 2021
