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Home » Authors » Stephen Letko

Articles by Stephen Letko

TW0623_crude oil prices drop.jpg
PVF Market Overview

Oil Prices Per Barrel Decline to Below $80

The drop is refueled by recession fears as credit conditions in the United States and lemany other economies tighten.
June 1, 2023
Stephen Letko

The energy industry ends the first half of 2023 with a pullback in oil prices below $80/barrel, refueled by recession fears as credit conditions in the United States and many other economies tighten, and uncertainty over the pace of demand recovery in China.


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TW0523_oil pipeline.jpg
PVF Market Overview

More U.S. Oil and Gas Capital Spending in 2023

Despite inflation, interest rate hikes and regulations, about $6 billion of active natural gas pipeline projects are likely to begin in 2Q.
May 1, 2023
Stephen Letko

Midway through 2023’s second quarter, the Federal Reserve’s Jerome Powell is set to raise the prime interest rate another 25 to 50 basis points in his relentless pursuit of throttling the rate of inflation.


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TW0423_American shale gas drilling rig.jpg
PVF Market Overview

Investor Pressures Slow Down Shale Oil Production

Pipeline capacity and possibly higher interest rate increases also will affect the PVF industry this year.
April 3, 2023
Stephen Letko

The impact of the Powell initiatives on the PVF industry will begin to be felt as we see the second quarter unfold.


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TW0323_join our team.jpg
PVF Market Overview

Interest Rates, Employment Figures and Oil/Gas Growth

The oil industry is experiencing a greater percentage of hires new to the industry; it employed 948,943 professional jobs in 2022.
March 6, 2023
Stephen Letko

March marks the end of the first quarter of calendar year 2023. The Federal Reserve anticipates another two quarter-point interest rate increases in the second quarter following the quarter-point in February: one on March 22 and one at its meeting on May 3.


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TW0223_electric vehicle battery pack.jpg
PVF Market Overview

U.S. Pledges $33 Billion for EVs, Battery Factories

Energy costs are a significant factor in choosing a battery plant site, as these facilities are huge energy consumers.
February 3, 2023
Stephen Letko

By the time this column is published, we will be halfway through the first quarter of 2023, giving us an indication of how the year will unfold for the PVF industry.


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TW0123_energy bills.jpg
PVF Market Overview

2023: Supply Growth, Lower Demand Eases Price Pressures

However, markets will still be tight throughout the year, resulting in price decline but remaining well-elevated above recent historic averages.
January 6, 2023
Stephen Letko

In 2023, ongoing supply growth coupled with weaker demand growth will ease tight markets and see some relief in the price pressures that forced energy prices higher.


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TW1222_drilling for oil at sunset.jpg
PVF Market Overview

Biden Administration Flip-Flops on Natural Gas Drilling

Yet the Interior Department announced an offshore oil and gas sale for tracts in Alaska for December.
December 5, 2022
Stephen Letko

December is the end of a turbulent year for the PVF sector of our economy: supply-chain constraints, rising costs of material, labor shortages, escalating energy costs, international conflicts and a political environment hostile to fossil-fuel energy sources.


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TW1122_rising-gas-prices-at-the-pump.jpg
PVF Market Overview

OPEC+ Cuts Production, SPR Tapped Again

The administration announced an additional 10 million barrels from the Strategic Petroleum Reserve, which is already at an historic low.
November 4, 2022
Stephen Letko

We are midway through the fourth quarter of the calendar year 2022. The months of November and December are not only impacted by the holidays, limiting the number of shipping days — we all will be impacted by rising fuel costs.


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TW1022-letko.jpeg
PVF Market Overview

Oil Prices Softening, Yet Still High

The high cost and limited supply of diesel fuel has an inflationary effect on all segments of the supply chain.
October 3, 2022
Stephen Letko

Oil and gas prices continue to stay high because of low inventory, low production and high demand. This summer, the United States consumed larger amounts of natural gas to meet electricity demand. Read on to discover what else is happening in the energy sector.


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tw_letko.png
PVF MARKET OVERVIEW

Purchasing Manager’s Index in Contraction Territory

The U.S. economy is slowing at a pace not seen since the 2008 financial crisis.
September 5, 2022
Stephen Letko
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