After dropping to a one month low on Thursday, oil prices recovered nicely today. Investors attribute the uptick to the growing belief that OPEC will indeed extend production cuts through the end of 2017.
Pennsylvania and Ohio had the two largest annual natural gas production increases from 2015 to 2016, reflecting higher production from the Utica and Marcellus shale plays, which have accounted for 85% of the U.S. shale gas production growth since 2012. Production in Pennsylvania and Ohio has accounted for an increasing share of total U.S. natural gas production in recent years, growing from less than 2% in 2006 to 24% in 2016.
And it's shaping up to be another fun week in the crude complex, with OPEC releasing its monthly oil market report on Tuesday, swiftly followed by the IEA's monthly oil market report the day after. As oil is looking a little steadier after reaching our downside target, hark, here are five things to consider in oil markets today.
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More than 200,000 miles of liquids pipelines safely transport propane, crude oil, gasoline, jet fuel, ethanol and other energy products across the United States every day. The products flowing through liquids pipelines are used to manufacture medicines, plastics and foods and to fuel cars, trucks and airplanes.