Why U.S. Shale Production Remains Stubbornly High
I have written on shale production in the U.S. a number of times over the past couple of years for OilPrice. My expectation that shale production would fall sharply to Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The March Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Reduced economic activity related to the COVID-19 Continue Reading
U.S. Oil Production Saw The Largest Decline Ever In 2020
Due to plunging drilling activity amid low oil prices, U.S. crude oil production fell by nearly 1 million barrels per day (bpd) last year, registering the largest annual decline in Continue Reading
Chevron CEO Reveals Permian Surprise
Chevron Corp. revived aspirations to pump 1 million barrels a day in the Permian Basin after drastic budget and job cuts trimmed operating costs. Chevron plans to ramp up investment Continue Reading
Analysts Expect Further Growth For Booming Energy Sector
Since the vaccine-led recovery of oil prices, the energy sector has turned from the worst performer on the market to the top-performing sector, and analysts believe there is still upside Continue Reading
Oilfield Jobs Tank Again in U.S. After Brief Recovery Last Year
The hired hands of America’s oil patch have now lost all the job gains they made during a brief recovery last year, according to a trade group. The companies that Continue Reading
U.S. Oil Rig Count Sees Tiny Increase Amid Oil Price Rally
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 1 this week. The total number of active oil and gas Continue Reading
Oil Market Even Tighter As 500,000 Bpd Come Offline In Canada
Maintenance at three oil sands upgraders in Canada will take off some 500,000 bpd in production offline, helping tighten supply amid a price rally, Bloomberg reports. Canadian Natural Resources, Suncor Continue Reading
Offshore Oil & Gas Projects Set For Record Recovery
Operators are expected to commit to developing a record number of offshore oil and gas projects over the next five years, with deepwater projects set for the most impressive growth, Continue Reading
US oil, gas rig count leaps 30 to 491 on week, as oil prices climb further: Enverus
The US oil and gas rig count leaped 30 in the week ending March 3 to 491, rig data provider Enverus said, reaching the highest total since late-April 2020, as Continue Reading