Crude oil production in the United States could fall by about 2 million bpd from current estimates of daily averages, according to the Energy Information Administration. In its latest Short-Term Continue Reading
The company is reducing spending this year to about half of 2019 levels, joining a parade of shale drillers doing the same. (Bloomberg) — Marathon Oil Corp. is reducing its Continue Reading
US shale drillers are engaged in a bitter test of wills as sinking oil prices force the weakest operators to retreat. (Bloomberg) — U.S. shale drillers are engaged in a Continue Reading
The G20 group of leading world economies will host an extraordinary energy ministers’ meeting Friday to discuss OPEC-led plans for a global crude production cut accord aimed at shoring up Continue Reading
The world’s largest oil producers are inching closer to an unprecedented global deal to rescue the energy industry from collapse after the U.S. said production will drop dramatically. While the forecast reflects Continue Reading
Permanent changes to social behavior in the wake of coronavirus lockdowns are likely to hit long term oil demand forecasts and accelerate the shift to cleaner fuels but may be Continue Reading
The U.S. cut its 2020 oil production forecast by more than 1 million barrels a day, as collapsing crude prices and plummeting demand threaten to shutter production in the country’s Continue Reading
Almost 40% of oil and natural gas producers face insolvency within the year if crude prices remain near $30 a barrel, according to a new survey by the Federal Reserve Bank Continue Reading
Exxon Mobil Corp. more than doubled the budget cuts announced by any other shale company on Tuesday amid an historic crude-market crash. In all, nearly three dozen shale explorers have slashed Continue Reading
U.S. production of crude oil will fall 13% by year’s end, according to a government forecast Tuesday—numbers the White House hopes to use to convince Saudi Arabia and Russia to Continue Reading
