Will Oil Ever Recover To Pre-COVID Levels?
Last May, Bernard Looney, the CEO of BP, said that “the coronavirus hit to crude consumption was likely to endure beyond the pandemic- and may have even ushered in “peak Continue Reading
Oil And Gas Drilling Set For A Multi-Decade Low In 2020
The COVID-19 pandemic has stymied oil and gas activity, a phenomena which has now affected the drilling market both in terms of wells drilled and in terms of related demand Continue Reading
After Decades of Wrong Predictions, Oil May Finally Be Peaking
After one of the most dramatic stretches in its history, the oil industry is slowly recovering. March and April saw the toxic combination of depressed demand, excessive supply, limited storage Continue Reading
Cow Burps, Leaky Pipelines Put Earth on High-End Warming Track
Global emissions of methane, a greenhouse gas multiple times more potent than CO2, rose by 9% in the decade through 2017, putting Earth on a track to warm by more Continue Reading
OPEC+ News Is Holding Oil Prices Back
In the first six months of 2020, henry hub natural gas prices averaged just $1.81/MMBtu, the lowest first half on record. – For the month of June, prices averaged $1.63/MMBtu, Continue Reading
OPEC June 2020 Production Data
All OPEC data below is from the July 2020 OPEC Monthly Oil Market Report . All OPEC data is through June 2020 and is in thousand barrels per day. All Continue Reading
OPEC+ meets to decide on oil cuts easing
OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the group will ease supply curbs as the global economy Continue Reading
Can OPEC+ Still Justify Its Deep Output Cuts?
OPEC+ compliance rose sharply in June, helping to tighten up the market. The improved compliance also boosted confidence and cohesion in the group’s collective effort ahead of a possible loosening Continue Reading
OPEC+ May Temper Supply Restart With Extra Oil Cuts From Cheats
OPEC+ is seeking extra production cuts from members that haven’t missed their targets again in June, potentially tempering the impact of the supply resumption planned by the wider coalition next Continue Reading
The Middle East Nation Reopening Its Doors To Iraqi Oil
The resumption of crude oil imports from Iraq by Jordan announced last week by the Kingdom’s Energy Minister, Hala Zawati, will give Baghdad’s (and Tehran’s) beleaguered finances a much-needed boost Continue Reading