Javier Blas

Government, Business, Fuel

OPEC+ Gambles That US Shale’s Golden Age Is Over

drill rig A pumpjack operates as a drill rig sits on a well pad in the Bakken Formation in Williston, N.D. (Daniel Acker/Bloomberg)

When the Organization of Petroleum Exporting Countries meets this week, ministers will discuss whether to extend their current output target, because they believe relentless U.S. oil production growth will slow rapidly next year.

Javier Blas | Bloomberg News
December 2, 2019
Government, Business, Fuel

US Becomes Net Oil Exporter for First Time in 75 Years

Texas Oil Field Matthew Busch/Bloomberg News

America turned into a net oil exporter the week of Nov. 26, breaking 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what President Donald Trump has branded as “energy independence.”

Javier Blas | Bloomberg News
December 6, 2018
Business, Fuel

Oil Seen Stuck in $50 to $60 Range as Shale Blunts OPEC Action

Matt Nager/Bloomberg News

The world should get used to oil prices between $50 and $60 a barrel as falling costs in America’s shale fields counteract OPEC’s renewed commitment to supply management.

Javier Blas | Bloomberg News
Grant Smith | Bloomberg News
Angelina Rascouet | Bloomberg News
October 18, 2016
Business, Fuel

Trains, Trucks and Two Tankers Involved in Perhaps Most Logistically Complex US Oil Trade Yet

Daniel Acker/Bloomberg News

Mercuria Energy Group has engineered perhaps the most logistically complex trade yet to export U.S. oil since a four-decade ban on sales was lifted.

Andy Hoffman | Bloomberg News
Javier Blas | Bloomberg News
Sheela Tobben | Bloomberg News
Laura Hurst | Bloomberg News
August 25, 2016
Business, Fuel

Some Hedge Funds Are Betting Oil Will Surge Above $100

Susana Gonzalez/Bloomberg News

Oil investors are buying contracts that will only pay out if crude rises well above $100 a barrel over the next four years — a clear sign some believe today’s bust is sowing the seeds of the next boom.

Javier Blas | Bloomberg News
June 10, 2016
Business, Fuel

Gasoline Consumption in US Rises Most in Nearly Four Decades

Luke Sharrett/Bloomberg News

U.S. gasoline demand rose at the fastest annual rate in almost 40 years in February as stronger economic growth and cheap fuel prices spur driving in the world’s biggest oil consumer.

Javier Blas | Bloomberg News
May 2, 2016
Business, Fuel

Oil Drops After Output Talks Fail Amid Saudi Demands Over Iran

Lisi Niesner/Bloomberg News

Oil fell after output talks April 17 between the world’s biggest producers ended without any agreement on limiting supplies, a diplomatic failure that threatens to renew the rout in prices.

Nayla Razzouk | Bloomberg News
Javier Blas | Bloomberg News
April 18, 2016
Business, Fuel

US Plans to Sell Down Strategic Oil Reserve to Raise Cash

Daniel Acker/Bloomberg News

The United States plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached Oct. 26 by the White House and top lawmakers from both parties.

Javier Blas | Bloomberg News
October 27, 2015
Business, Fuel

Oil Has Lowest Share of US Transportation Since Era of Steam Trains

Ryder System Inc.

Oil has the lowest share of the U.S. transportation fuel market since the 1950s, when steam trains remained a common sight on American railroads.

Javier Blas | Bloomberg News
May 19, 2015