Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 Continue Reading
The US oil and gas rig count fell by 12 to 299 on the week, Enverus said June 11, as upstream operators continued taking rigs out of domestic fields as Continue Reading
Many U.S. shale firms have cruised through the past couple of years by borrowing money and drilling new wells, making the United States the world’s top crude oil producer. The Continue Reading
It’s been a tough year for U.S. shale. Even before the novel coronavirus pandemic pummeled oil markets, the shale revolution had been pronounced dead, with investors shying away from the Continue Reading
The low oil price environment is causing hardship for US operators as NYMEX light, sweet crude trades around $35/b. In reaction to the sharp decline in oil prices, 38 US Continue Reading
There are very few industries in the world that have been hit as hard or are set to face as many consequences as the oil and gas industry in 2020. Continue Reading
Unless oil prices move back up to the levels before the COVID-19 pandemic, the U.S. shale industry could collapse, the Institute for Economics & Peace, an Australian think-tank, warned in Continue Reading
Highlights US crude stocks up 5.72 million barrels to 538.07 million barrels Net crude inputs 20% below normal at 13.48 million b/d Exports fall to seven-month low of 2.44 million Continue Reading
Forecast Highlights Global liquid fuels Although revisions to EIA’s forecasts in the June STEO are generally smaller than they have been in recent months, this forecast remains subject to heightened Continue Reading
The American Petroleum Institute (API) estimated on Tuesday shocked the oil markets with a large crude build of 8.42 million barrels for the week ending June 5. Analysts had predicted Continue Reading
