Will Falling Drilling Costs Fuel A U.S. Shale Rebound?
Even though the U.S. shale patch has further reduced its break-evens over the past year, the decline in drilling costs alone may not be sufficient to help producers to lift Continue Reading
Oil Major Chevron Slashes Spending Plans Following COVID Crisis
Chevron Corporation is reducing its capital and exploratory budget for the next five years by billions of U.S. dollars compared to previous guidance as it looks to save its dividend Continue Reading
The Death Of U.S. Shale Has Been Greatly Exaggerated
The current year marks the 15th anniversary of the U.S. shale boom, a period in which fracking technology across such states as Texas, Colorado, New Mexico, North Dakota, and Wyoming Continue Reading
Has peak oil been and gone?
If I had of said to most of you reading this a year ago that 2020 would see negative oil prices , the world economy collapse and record highs in Continue Reading
Summary of Weekly Petroleum Data for the week ending November 27, 2020
Summary of Weekly Petroleum Data for the week ending November 27, 2020 U.S. crude oil imports averaged 5.4 million barrels per day last week, up by 171,000 thousand barrels per Continue Reading
US refined product inventories climb as demand tests multimonth lows
US refined product inventories climbed in the week ended Nov. 27 as the pandemic blunted demand during the typically travel-heavy US Thanksgiving Day holiday weekend. Receive daily email alerts, subscriber Continue Reading
Oil Price Crash Crushes New Mexico’s Hope For Free College
New Mexico was, until recently, a lucky state. Despite being one of the states with the weakest economies—and high unemployment—New Mexico had the Permian, and oil revenues from drillers there Continue Reading
US September Oil production
A post by Ovi at peakoilbarrel All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM . After Continue Reading
Russia’s Nov oil output steady on month at 10 mil b/d
Russia produced 40.96 million mt of crude and condensate in November, equivalent to around 10 million b/d, according to preliminary data released by the central dispatching unit of the Russian Continue Reading
Oil Industry Will Never Be the Same After Covid
A year ago, if anyone in the petroleum business had suggested that the moment of Peak Oil had already passed, they would have been laughed right off the drilling rig. Continue Reading