How Do You Restart an Oil Well That’s Frozen Solid?
Restarting oil and gas wells closed by the extreme cold sweeping much of the U.S. isn’t going to be quick or easy, even once the ice thaws and power is Continue Reading
Oil Prices Are Up, but Frackers Stay on the Sidelines—for Now
Oil’s recent rise above $60 a barrel will test the willpower of shale companies that pledged to slow drilling and repair balance sheets battered by the pandemic. The highest prices since Continue Reading
Where Did The ‘Missing Barrels’ From 2020s Oil Glut Go?
While analysts and industry officials hail the tightening of the oil market and the rebalancing of supply and demand, the huge build of global stocks last year poses the question Continue Reading
FUJAIRAH DATA: Oil products stocks drop to 2021 low as fuel oil exports set record high
Oil products stockpiles at the Port of Fujairah dropped to the lowest level of 2021, with exports of fuel oil setting a record high. Receive daily email alerts, subscriber notes Continue Reading
Up to 4 million b/d of downed US oil output being restored
Most of the projected 3 million b/d-4 million b/d of downed US crude oil production, which went offline after power failed and wellheads froze from brutally low temperatures and ice Continue Reading
Occidental Issues Force Majeure as Cold Shuts in Permian Oil
Occidental Petroleum Corp., the second-largest oil producer in the Permian Basin of West Texas and New Mexico, told buyers it will be forced to curtail deliveries due to complications from Continue Reading
Drilling Productivity Report
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US crude inventories likely lower as refinery runs hold, exports grow
US crude inventories likely continued to fall in the week ended Feb. 12, as refinery runs were stable while crude exports climbed, analysts surveyed by S&P Global Platts said Feb. Continue Reading
China storage, demand complicate oil market rebalancing
Global oil market balances are a blind spot for the market. Despite eye-catching depletions in stocks at key hubs like Cushing and Fujairah, storage is stubbornly high. China’s uncertain appetite Continue Reading
Cold Weather Cuts Permian Oil Output by 1 Million Barrels a Day
Permian oil production has plunged by as much as one million barrels a day as the coldest weather in 30 years brings havoc to a region that seldom faces frigid Arctic Continue Reading