Wary of U.S. Crude, Investors Bet on Gasoline and Brent
Wary of U.S. crude oil after prices sank below zero, investors are seeking different ways to profit from the energy market as pockets of the world economy emerge from lockdown. Continue Reading
Cheer spreads through US oil market as lockdowns ease
Analysts in the US oil market are growing increasingly confident of stronger prices, as coronavirus lockdowns ease and consumption creeps up just as production plummets. West Texas Intermediate, the US crude Continue Reading
U.S. Shale Could Crush The Oil Market Recovery
Oil markets have taken a beating around the globe, but nowhere has the pummeling been worse than in the United States shale patch, where the oil price crash plunged the Continue Reading
No One Expected Shale Cuts to Happen So Fast
In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production. But few expected that the cuts would Continue Reading
Rig Count Drops To New Low As Oil Prices Soar
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 35, falling to 339, with the total oil and Continue Reading
U.S. Fracking Activity To Hit Rock Bottom In May
The Covid-19 pandemic and the low oil-price environment it has created continues to affect global energy markets and activity levels by oil and gas producers. New fracking jobs in the Continue Reading
Gasoline Demand Is Set For A Rapid Rebound
1. IEA: Gasoline demand will come back quickly – The IEA said in its latest Oil Market Report that global oil demand hit its nadir in April (-25.2 bm/d), and Continue Reading
North Dakota Says Oil Recovery Will Be Slow Even as Wells Start
Producers are already restarting oil wells in North Dakota as prices come off record lows, but talk of a recovery is premature, said the state’s energy regulator. The historic price rout Continue Reading
Oil on floating storage soars to record highs, but peak still some way off
Oil on floating storage is now at its highest level in the history of the oil market and despite modest signs of a demand recovery, industry sources and analysts say Continue Reading
US oil, gas rig count falls 29 to 369 in 9th straight week of double-digit drops: Enverus
The total US oil and gas rig count fell 29 to 369 on the week, rig data provider Enverus said Thursday, marking the ninth straight week of double-digit declines as Continue Reading