The ongoing debate about the Federal Reserve's potential rate cut and an economic slowdown reflected by global data are likely to be catalysts for oil price changes, Nick Cunningham writes. Cunningham also notes ongoing political and trade concerns will continue to influence oil pricing.
San Francisco is starting to sell land that has been leased for oil production for decades as it complies with a "Keep It in the Ground" law passed in 2016. The city hopes to sell about 1,500 acres of land in Bakersfield's Kern River Oil Field, which is currently leased to Chevron.
The US Energy Information Administration reported that Oklahoma produced 18.5 million barrels of crude oil in the month of April, a record for the state. It also produced approximately 262 billion cubic feet of natural gas during April.
The US State Department has expressed apprehensions about reports of China interfering with oil and gas activities within the South China Sea. Vietnam said Friday that an oil survey vessel had encroached on its sovereignty.
LNG Limited, an Australian liquefied natural gas business, will be listing on the Nasdaq stock exchange and moving its headquarters to Houston, as per a board vote. The company is also seeking to increase its current production of 8 million metric tons per year by another 800,000 metric tons.
Last week's Iranian seizure of a British oil tanker, along with Houthi drone attacks on targets such as a Saudi oil pipeline, should prompt the US to prepare for the potential of a similar assault, writes Charles "Sam" Faddis. Private sector entities should "make the necessary preparations for what may be a coming Hezbollah offensive," he writes, citing lack of US government capacity to respond fully.
Case studies from four earthquakes around the world show how geodetic data can be used in earthquake response, said William Barnhart, an Earth scientist with the University of Iowa. A recent study focused in part on how geodetic observations can validate source models and improve tools such as ShakeMap.
Thousands of aftershocks have followed two strong earthquakes that occurred in the Mojave Desert earlier this month. Studying the aftershocks can help scientists gain a better understanding of faults in the area.
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