US oil output to bottom out at 10.6 million b/d in March 2021: EIA
US oil production will continue to decline until bottoming out at 10.63 million b/d March 2021, or 2.2 million b/d below the record high set in November 2019, the US Continue Reading
Gulf of Mexico oil production slowly returning after Tropical Storm Cristobal
US Gulf of Mexico oil producers have returned about 60,000 b/d back into service after about 35% of the Gulf’s oil and gas production was temporarily taken offline as Tropical Continue Reading
Deep Output Cuts Could Cause Long Lasting Deficit In Oil Markets
The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude and condensate demand, but are deep Continue Reading
U.S. Frackers to Zero In on Richest Oil Fields After Coronavirus
The U.S. has more than doubled its crude output over the last decade. Much of the growth is due to the Permian Basin of West Texas and New Mexico. WSJ Continue Reading
U.S. Shale Outperforms Expectations In Q1
Following the publication of the energy industry’s first quarterly results since the Covid-19 outbreak, a Rystad Energy analysis reveals a surprising contrast. While the oilfield service (OFS) market has taken Continue Reading
U.S. Shale Companies Are Turning the Oil Taps Back On
American oil producers are reopening the spigots, complicating the crude market’s recovery. Scores of shale drilling companies turned off wells to reduce output when U.S. oil prices fell to negative territory in Continue Reading
CEOs Bank Big Bonuses As Oil Companies Go Bankrupt
When public oil and gas companies are doing relatively well, many are happy to adopt a pay-for-performance model to reward CEOs and executives. However, the tables are quickly turned when Continue Reading
Will U.S. Shale Ever Return To Its Boom Days?
U.S. shale drillers are bringing back shut in production three months after the onset of the current downturn. But steep decline rates will increasingly take hold, dragging down overall U.S. Continue Reading
185 US GOM Platforms Evacuated Due to Storm
As of June 7, workers have been evacuated from 185 production platforms in the U.S. Gulf of Mexico due to Storm Cristobol. As of June 7, workers have been evacuated Continue Reading
Oil Market Heading For Months Of Deficit
The oil market is set for a deficit from August onwards, even after OPEC+ eases the current cuts that are up for a tentative extension through July, Rystad Energy analysts Continue Reading