IEA: The Global Oil Glut Is Gone
The excess oil inventories of the past year have been all but depleted, and a strong demand rebound in the second half this year could lead to even steeper stock Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The May Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Economic activity has increased significantly after reaching Continue Reading
Peak Oil Demand, Really? Some Lessons From The Debate Over Peak Supply
Which peak are we talking about? Some recent headlines and quotes from the press: “Peak Oil is Suddenly Upon Us” (Bloomberg 12/1/20); “Even Exxon Mobil is Capitulating to Peak Oil Continue Reading
Oil And Gas Rig Count Climbs Amid Price Rally
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 8 this week, bringing the total rig count to 448. In Continue Reading
ANALYSIS: US oil, gas rig count climbs seven to 545 as Permian activity rises: Enverus
Oil rigs up 10; gas drop 3 Permian rigs back at one-year high Operators maintain capital discipline despite rising cash flows The US oil and gas rig count climbed seven Continue Reading
Why Exxon And Chevron Are Not Going All-Out In The Permian
The U.S. oil supermajors are leading by example what shale drilling discipline should look like. Neither ExxonMobil nor Chevron are rushing to boost production in the biggest American shale play, Continue Reading
U.S. Shale Pre-Hedge Revenues Set To Hit All-Time High In 2021
The US shale industry is set to achieve a significant milestone in 2021: If WTI futures continue their strong run and average at $60 per barrel this year and natural Continue Reading
New Mexico’s Oil And Gas Royalties Hit Record
New Mexico raked in its highest ever royalty amount from oil and gas leases in April, according to the NM’s State Land Office. The previous record high royalty payments from Continue Reading
US crude stocks see largest draw since January amid rising demand, export surge
US crude oil inventories moved sharply lower in the week ended April 30, US Energy Information Administration data showed May 5, amid stronger refinery demand and a surge in exports. Continue Reading
Large Inventory Draws Boost Crude Prices
The American Petroleum Institute (API) on Tuesday reported a massive draw in crude oil inventories of 7.688 million barrels for the week ending April 30. Analysts had predicted a more Continue Reading