The Great U.S. Shale Decline Has Already Begun
U.S. shale companies are moving quickly to ax their budgets, hoping to staunch the bleeding as the oil market continues to melt down. It has only been a few days Continue Reading
US Oil Output to Dip for the First Time Since 2016
US oil output will average 12.7 million barrels a day in 2021, down from an expected 13 million barrels this year. (Bloomberg) — The world’s biggest oil producer will see Continue Reading
U.S. Discusses Buying Oil For SPR To Help Shale Drillers
Oil industry representatives have pitched for discussion to the U.S. Administration the idea that Washington buy cheap crude oil to replenish the Strategic Petroleum Reserve, which would also remove millions Continue Reading
Why Fracking Will Never Be Banned In The U.S.
Several democratic presidential candidates have proposed fracking bans, but oil companies have room to breathe easily knowing that killing off fracking in the US is a bit too big of Continue Reading
Will Trump Bail U.S. Shale Out?
The White House is considering a rescue package for the U.S. shale industry, although the idea is getting pushback from so many sides that it faces challenging odds of passing Continue Reading
US Oil Output to Dip for the First Time Since 2016
The world’s biggest oil producer will see a drop in output next year as a result of the dramatic collapse in prices that’s already forcing drillers to cut back on Continue Reading
Monthly US oil production to peak next month: EIA
US oil output to average 12.99 mil b/d in 2020, 12.66 mil b/d in 2021 WTI forecast cut to $38.19/b in 2020, $50.36/b in 2021 Brent forecast cut to $43.30/b Continue Reading
STEO snapshot: EIA slashes oil price, demand, supply projections
The recent oil-price collapse led the US Energy Information Administration Wednesday to cut its forecast for global oil demand 50% from earlier this year, drop some oil price projections by Continue Reading
US crude exports, Permian production expected to fall: Port of Corpus Christi CEO
US crude exports and Permian Basin production may soon see notable declines as the plunge in oil prices triggers a painful but possibly short-lived downturn, said Port of Corpus Christi Continue Reading
Summary of Weekly Petroleum Data for the week ending March 6, 2020
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending March 6, 2020 which was 5,000 barrels per day more than the previous week’s average. Continue Reading