While many US oil and gas producers have slowed drilling activity to a bare minimum in response to low prices, operators holding federal permits have boosted activity ahead of a Continue Reading
Less than two hours after Kamala Harris was named Joe Biden’s running mate, President Donald Trump had cast the California Democrat as an oil industry and fracking foe. “She is against Continue Reading
US permits for new horizontal drilling in oil basins fell to a 10-year monthly low in July, Rystad Energy reported Tuesday. U.S. permits for new horizontal drilling in oil basins Continue Reading
Stockpiles of oil products at Fujairah on the UAE’s east coast continued to decline for the seventh week in a row, further eroding inventories that had climbed to a record Continue Reading
The August Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease (COVID-19) continue to evolve. Reduced economic activity Continue Reading
U.S. oil companies have started pulling their crude oil back from government storage tanks, suggesting that the glut that forced them to stash it there in the first place is Continue Reading
The US Energy Information Administration Aug. 11 slashed its 2020 forecast for US oil production by 370,000 b/d from last month’s outlook to 11.26 million b/d based on more extensive Continue Reading
U.S. shale producers are at a crossroads as they find themselves more efficient than ever. They can keep drilling, and potentially dent oil prices, or use the money to pay Continue Reading
Roughneck job cuts accelerated in July and the outlook may worsen as new Covid-19 cases stifle economic activity, according to the Petroleum Equipment and Services Association. The U.S. oilfield-services sector shed 9,344 Continue Reading
The U.S. oilfield services industry lost another 9,000 jobs in July, up by 43 percent compared to the jobs lost in June, Bloomberg quoted the latest report from the Petroleum Continue Reading
