USA Oil and Gas Employment Set to Rebound
The total number of jobs in 2027 is expected to hit 1.09 million. Employment in the U.S. oil and gas industry is set to rebound in the coming years and Continue Reading
Russian oil output up 200,000-300,000 b/d in May, recovery to continue in June
Highlights Ukraine invasion affecting Russian oil output Russia redirecting crude supplies from Europe to Asia Russian deputy prime minister Alexander Novak said May 19 that after a fall of 1 Continue Reading
API Reports Inventory Draws In Crude, Gasoline Despite SPR Release
The American Petroleum Institute (API) reported a draw this week for crude oil of 2.445 million barrels, compared to analyst predictions of a 1.533 million barrel build. The draw comes Continue Reading
USA Lease Sale Cancellation Leaves Industry in Limbo
The move leaves the industry in limbo, according to Fitch Solutions. The cancellation of lease sales 258 (Cook Inlet) and 259, 261 (Gulf of Mexico) that were planned under the Continue Reading
Permian growth outlook brightens as brownfield gas pipeline expansions advance
Highlights Open season or FID declared for 1.7 Bcf/d capacity Projects delays gas pipeline constraints to late 2025 Crude constraints unlikely before late 2025 or later Permian Basin producers are Continue Reading
US shale companies enjoy ‘tsunami of cash’ on high oil prices
America’s shale oil companies are enjoying a cash bonanza, as soaring oil prices and months of capital restraint transform the fortunes and balance sheets of a sector once notorious for Continue Reading
Permian oil output forecast to hit record high in June -EIA
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise by 88,000 barrels per day (bpd) to a record 5.219 Continue Reading
U.S. Strategic Petroleum Reserve drops to lowest level since 1987
The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy Continue Reading
No Offshore Oil Auctions Devastating To Americans, NOIA Says
NOIA President Erik Milito has issued a response to the decision not to move forward with planned GoM and Alaska oil and gas lease sales. National Ocean Industries Association President Continue Reading
We Can’t Drill Our Way to Energy Security
Thanks to a remarkable oil and gas boom, the United States has achieved the long-sought goal of energy self-sufficiency: We now produce more oil and refined products, natural gas and Continue Reading