Real Oil Price Plunge Pushes Major Producers to the Brink
The prices of actual barrels of multiple crude streams in Europe, Asia and Africa have plunged to as little as $5 a barrel, dragging down the entire physical oil market and Continue Reading
Summary of Weekly Petroleum Data for the week ending April 17, 2020
U.S. crude oil refinery inputs averaged 12.5 million barrels per day during the week ending April 17, 2020 which was 209,000 barrels per day less than the previous week’s average. Continue Reading
U.S. Shale Braces For Largest Ever Drop In Fracking Activity
The Covid-19 crisis combined with the oil price war is about to trigger the largest ever monthly drop in U.S. fracking activity The Covid-19 pandemic has ravaged global oil demand Continue Reading
Oil Lenders Might Hit the Brakes on Bankruptcies
Free oil won’t last. But it may linger long enough to persuade some creditors of bankrupt energy drillers to freeze their court fights awhile so they don’t wind up running Continue Reading
Historic Oil Rout Poised to Bust Shale
A historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% Continue Reading
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst Continue Reading
A Massive Wave Of Shut-Ins Fails To Halt Oil Price Crash
With the physical oil market coming apart at the seams, traders have begun to realize that we are a lot closer to full storage capacity than previously thought. As a Continue Reading
Ships, trains, caves: Oil traders chase storage space in world awash with fuel
Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to Continue Reading
Oil Traders Are Scrambling to Book Tankers for Storage
A Journal survey of 16 tanker owners and data from brokers showed about 100 of the world’s 815 very large crude carriers, each of which can hold around 2 million Continue Reading
Texas Railroad Commission defers proration decision until May 5 meeting
The Texas Railroad Commission adjourned a webcast public meeting Tuesday without voting on whether to implement prorationing the state’s production, instead deferring a decision until next month. Receive daily email Continue Reading