Are Non-OPEC’s Best Days in the Rear-view Mirror
While this post updates Non-OPEC production to January 2020, we are now in late May and the direction for future production for the next few years is clear, LOWER than Continue Reading
Coronavirus Threatens to Hobble the U.S. Shale-Oil Boom for Years
But before the new coronavirus sapped global demand for crude, causing shale-drilling companies to shut off wells en masse to avoid losing money, many were struggling to turn a profit Continue Reading
Oil Companies Forced To Renegotiate Deals Or Risk Losing It All
On April 20, the West Texas Intermediate crude benchmark did not just fall below zero, it plummeted to negative $37.63 a barrel . This stunning price crash was the result Continue Reading
Prepare For Major Oil Market Consolidation
COVID-19 Market Update Brent crude gained over 1% Thursday, which–dull as it sounds–was its highest level since March. The bump came as US inventories lessen and OPEC cuts production, while Continue Reading
America’s Shale Drillers Extend Their Retreat for a 10th Week
Shale explorers extended their retreat into a 10th week, dropping the number of oil rigs at work in the U.S. to the lowest since 2009 as some struggle to stay Continue Reading
US oil production is falling much more quickly than thought
US oil production is falling more steeply than expected, forcing analysts to scale back output projections even before a deep plunge in planned upstream spending further cuts supply later this Continue Reading
U.S. Rig Count Collapse Continues Despite Soaring Oil Prices
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 21, falling to 318, with the total oil and Continue Reading
Permian Basin, other associated gas plays lead US production to 16-month low
Highlights Output hits 85.5 Bcf/d, down 9% from record high At 357, US rig count has fallen 57% from annual peak Permian, SCOOP/STACK, Bakken lead output decline New York — Continue Reading
Boom to bust in the US shale heartlands
US oil and gas producers entered 2020 under the cosh – out of favor with investors and wilting under heavy debt loads. The Russian and Saudi oil price war was Continue Reading
America’s Shale Drillers Extend Their Retreat for a 10th Week
Shale explorers extended their retreat into a 10th week, dropping the number of oil rigs at work in the U.S. to the lowest since 2009 as some struggle to stay Continue Reading