U.S. Rig Count Continues To Rise As WTI Hits $110
The number of total active drilling rigs in the United States rose by 9 this week, on top of the 7 rig increase in the week prior, according to new Continue Reading
Soaring Costs Set To Hurt U.S. Shale Production
Soaring Production Costs Stoke Fears of US Shale Slowdown – Just as US shale producers were poised to capitalize on high crude prices and bring new production to the markets, Continue Reading
US oil, gas rig count gains three, totaling 806 on week; Bakken highest since April 2020: Enverus
Highlights Permian adds most rigs on week, up 4 to 329 Most basins gain rigs; only DJ loses a rig Total rig count is approaching pre-pandemic levels The US oil Continue Reading
Oil Prices Slip As Crude Inventories Jump
Crude oil prices fell slightly today after the Energy Information Administration reported inventories had risen by 8.5 million barrels in the week to May 6. This compared with an inventory Continue Reading
In U-turn, IEA sees world weathering lost Russian oil supply
The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted Continue Reading
Biden Scraps Offshore Oil Auctions
The Biden administration is scrapping planned auctions of drilling rights in the Gulf of Mexico and Alaska’s Cook Inlet. The Biden administration is scrapping planned auctions of drilling rights in Continue Reading
U.S. crude output to rise 720,000 bpd in 2022 -EIA
U.S. crude oil output is expected to rise 720,000 barrels per day to 11.91 million bpd in 2022, the government said in a monthly forecast on Tuesday. U.S. crude output Continue Reading
US Crude Output Growth Expected to Slow Amid Soaring Costs
American drillers will increase oil production at a slower pace than previously expected amid surging costs, stymieing the Biden administration’s hope that the industry will boost output to tame fuel Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The May Short-Term Energy Outlook (STEO) is subject to heightened levels of uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. This STEO Continue Reading
EIA again raises US fuel price outlook as demand destruction looms
Cuts global oil demand growth by 200,000 b/d on China, US Trims US oil supply by 100,000 b/d to 11.91 mil b/d in 2022 EU oil ban would lead to Continue Reading