Sheila McNulty writes from Houston:
The small companies that drive the bulk of US natural gas production are going to Washington DC next week to lobby against tax increases for the oil and gas industry proposed by the Obama Administration. Read more
Commerzbank highlights the estimates from Oil Movements, the information service, that Opec shipments are dropping by 770,000 barrels per day in the four weeks to April 11 compared to the previous four weeks. If accurate, that would confirm that Opec members are sticking by their commitment from Vienna on March 15 to cut their over-production above their agreed limits, which was then about 800,000 b/d.
The news sent crude prices to a 4-month high of $54.60 a barrel on Thursday. Read more
The FT is the subject of the sincerest form of flattery today, in the shape of a 12-page spoof and accompanying website from environmental campaigners, linked to protests around the London G20 meeting next week.
It is a mix of jokes and arguments, of varying quality, but the production is superb. Thay have reproduced the look of the FT very impressively. Read more
Energy news from elsewhere:
- Vote for IAEA chief is deadlocked (WSJ) Read more
Energy news from the FT:
- Rio Tinto reveals its ‘Plan B’ on funding
Alternative ready if Chinalco’s $19.5bn investment blocked Read more