EU Import Ban Could Knock Another 10% Off Russia’s Oil Output
Kremlin said the plan will be very costly for the bloc Von Der Leyen Says EU Plans to Phase Out Russian Oil Bloomberg News The European Union’s proposal to ban Continue Reading
Russia’s Oil Output Is Plummeting, And It May Never Recover
Russia’s oil output is plummeting, and the decline is expected to worsen in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per Continue Reading
The Calm Before The Storm In Oil Markets
U.S. Gulf of Mexico sees burst of drilling activity. Shale drillers focus on investor returns. Heatwave in India sends power demand soaring to unprecedented levels. The first week of May Continue Reading
Shale Producers Face $42 Billion In Hedging Losses
BloombergNEF: hedging losses are mounting in U.S. shale. Hess Corp found itself spending $325 million in March to exit hedges at a serious loss. Shale giant Pioneer lost $2 billion Continue Reading
API Shows Large Crude Inventory Drawdown
The American Petroleum Institute (API) reported a larger-than-anticipated draw this week for crude oil of 3.479 million barrels, compared to analyst predictions of a 1.167 million barrel draw. U.S. crude Continue Reading
U.S. Offshore Oil Boom Is No Cure For Global Supply Crunch
U.S. offshore oil production is booming as operators are bringing new platforms online. Years of underinvestment in drilling activity have taken their toll on the offshore industry. Goldman Sachs expects Continue Reading
Oilfield services bounce back as US drilling boom gathers pace
A drilling boom in America’s oil heartlands has triggered a sharp reversal of fortunes for the country’s long-suffering oilfield services groups as they reap the rewards of the scramble to Continue Reading
The U.S. Shale Patch Is Facing A Plethora Of Problems
Mr. Messler is an oilfield veteran, recently retired from a major service company. During his thirty-eight year career he worked on six-continents in field and… The U.S. government appears to Continue Reading
Falling Inventories Could Stifle U.S. Plans To Help Europe Replace Russian Oil
The U.S. oil and gas industry has boosted exports to record highs as Europe races to wean itself off of Russian energy. Since July 2020, U.S. oil inventories have plummeted Continue Reading
U.S. Fuel Exports Are Draining Domestic Diesel And Gasoline Supplies
Domestic supplies of gasoline and diesel in the United States are dwindling as record volumes of fuel are being exported from the Gulf Coast, BNN Bloomberg reports . Citing Vortexa Continue Reading