Record Shale Output, Australia's LNG Exports: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
Oil Surges Most in Seven Months as Trade War Seems to Ease - Crude oil jumped the most since early January on Tuesday as the trade deadlock between the U.S. and China showed signs of easing, calming fears that global economic growth would be endangered. Futures surged 4.6% in London, settling above $61 a barrel for the first time in more than a week. New York-traded crude climbed 4%. (Houston Chronicle)

PRODUCTION
EIA: U.S. Shale Output to Rise to Record in September - U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (BBL/d) in September, to a record 8.77 million BBL/d, the U.S. Energy Information Administration (EIA) forecast in its recent monthly drilling productivity report. (Reuters)

LNG
Australia Set to Become World's Largest LNG Exporter - Australia is on track to surpass Qatar as the world's largest liquefied natural gas (LNG) exporter, according to Australia's Department of Industry, Innovation, and Science. Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019. Within the next year, as Australia's newly commissioned projects ramp up and operate at full capacity, the EIA expects Australia to consistently export more LNG than Qatar. Australia's LNG export capacity increased from 2.6 billion cubic feet per day (Bcf/d) in 2011 to more than 11.4 Bcf/d in 2019. (EIA)

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About Industrial Info
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