Rushing to file: Lawyers representing Louisiana landowners have filed more than a dozen new oil field contamination lawsuits ahead of a state law change expected to make future legacy cases harder to win. The rush comes before reforms to the state’s litigation framework take effect, tightening rules around environmental claims tied to historic oil field operations. Read more from The Center Square.
Forecast raised: The U.S. raised its forecast for domestic oil production next year after the recent surge in prices due to supply disruptions from key Middle East countries. U.S. crude output is now expected to grow by 220,000 barrels a day in 2027 to 13.83 million barrels a day, according to the Energy Information Administration’s short-term energy outlook released Tuesday. The new forecast represents an increase of about 500,000 barrels from the agency’s previous projection made in February. Read more from Bloomberg. A subscription may be required.
Slight gain: Home sales made a small gain to start the year, but higher mortgage rates now could throw cold water on the spring season. Existing home sales in February rose 1.7% from January to a seasonally adjusted, annualized rate of 4.09 million units, according to the National Association of Realtors. Sales were down 1.4% from February of last year. Read more from CNBC.
