The Oil Storage Crisis Is Far From Over
It’s more than a month since the oil markets sunk to a nadir in the mother-of-all market routs. Since then, oil prices have staged an impressive recovery, especially from WTI’s Continue Reading
Summary of Weekly Petroleum Data for the week ending May 22, 2020
U.S. crude oil refinery inputs averaged 13.0 million barrels per day during the week ending May 22, 2020 which was 87,000 barrels per day more than the previous week’s average. Continue Reading
U.S. Shale Production Won’t Bounce Back Until 2021
It could take a year before U.S. shale production starts to rise again, the chief executive of Precision Drilling Kevin Neveu told Bloomberg. This could happen even if a hypothetical Continue Reading
US oil, gas rig count slips 24 week on week to 333 as cycle bottom seen nearing
Highlights Permian Basin sheds 14 rigs this week to fall to 171 Decline in rig totals slowing Operators eye more gas drilling in H2 2020 Houston — The US oil Continue Reading
Coronavirus lockdowns put the spotlight on crude oil storage
US crude storage quickly became a major issue at the crux of the coronavirus pandemic lockdowns, as global markets struggled to find enough places to stash oil amid the oversupply Continue Reading
Study Finds GOM Offshore Industry at Risk
Potential leasing and drilling bans threaten the GOM oil and gas industry, NOIA-commissioned study finds. Potential leasing and drilling bans threaten the Gulf of Mexico (GOM) oil and natural gas Continue Reading
Shutting Down Oil Wells, a Risky and Expensive Option
The temporary shutting in of wells is the one thing that oil companies are trying to avoid at all costs. That’s because restarting production is expensive and wells are not Continue Reading
Peak Oil Isn’t Here But It Could Be In Sight
By one oil consultancy’s estimate, Peak Oil will be here by 2028, or two years sooner than it previously had predicted, according to Reuters . That ceiling would be somewhere Continue Reading
U.S. Shale Is Living Beyond Its Means
Global investment in energy will fall by $400 billion in 2020, the largest single-year decline in history. U.S. shale will be hit particularly hard, with capex set to fall in Continue Reading
Analysis: US crude builds resume as USGC imports surge
US crude inventories moved higher last week after a surge of imports pushed US Gulf Coast stockpiles to fresh all-time highs, US Energy Information Administration data showed Thursday. US commercial Continue Reading