Permian Drillers Slash Output Themselves
On the same day OPEC-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts. (Bloomberg) — On the same day OPEC-style oil quotas in Continue Reading
Oil is approaching a turning point in its coronavirus saga.
Oil is approaching a turning point in its coronavirus saga. After several weeks of extreme volatility, prices rallied last week. BP, Shell, Exxon and Chevron offered investors a clear sense Continue Reading
Is November 2019 the New US Peak Oil Date?
Here I am again reporting on out of date US February oil production from the EIA April report after the world oil environment has been turned on its head. Fortunately Continue Reading
Storage Saga Contributes to New Oil Market Chapter
The Next Normal for Oil and Gas Is Unfolding As certain longstanding assumptions in the oil and gas market go by the wayside, at least temporarily, there is much interest Continue Reading
The world is running out of space to keep oil. Where will it go?
At beginning of this year, oil in the United States was selling for around $60 a barrel. Now you can barely get rid of the stuff; at $12 a barrel Continue Reading
Federal Reserve Extends Lifeline To Ailing U.S. Oil Industry
The Federal Reserve made some changes to its Main Street Lending Program according to a Thursday press release by the central bank that will now extend a much-needed lifeline to Continue Reading
U.S. Rig Count Falls By Nearly 50% In Seven Weeks Of Crisis
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 57, falling to 408, with the total oil and Continue Reading
The Great Shale Shut-In Has Begun, Making Good on Trump’s Pledge
American shale explorers are rapidly crimping production in the country’s most prolific oil fields as the worst price crash in history threatens the industry’s survival. Three of the biggest oil Continue Reading
Oil Market Showing Signs of Life as Producers Plan Output Cuts
Oil-output cuts across the U.S. have stemmed the freefall in prices. But whether the recent recovery is sustained will depend partly on whether producers make good on their commitments. Exxon Mobil Continue Reading
Investors Beware, Virus’s Long-Term Pain Just Becoming Clear
The best month for global equities in almost a decade may be enough to convince investors the light at the end of the coronavirus tunnel isn’t a train, but the Continue Reading