US Shale Production Is Set For A Steep Decline
U.S. oil production fell in July, another worrying sign for the shale industry. The latest EIA data shows that oil output fell sharply in July, dipping by 276,000 barrels per Continue Reading
OPEC’s September Oil Production Falls To Near Decade-Low
OPEC’s oil production has fallen to a near decade low for September, according to the latest Reuters survey, falling below 29 million barrels per day , with Saudi Arabia accounting Continue Reading
Chinese Oil Giant Significantly Boosts Shale Reserves
State energy giant PetroChina has announced new additions of almost 741 billion cubic meters to its shale gas reserves in the Sichuan province as well as certified reserves of 358 Continue Reading
US Oil Rig Demand Continues Decline
Productivity gains have caused record production, falling prices and a year-long decline in drilling and well completions. U.S. rig numbers at have fallen to their lowest since February 2018. According Continue Reading
Shale Boom Is Slowing Just When the World Needs Oil Most
Unlike several years ago, when shale production fell due to a global price collapse, the slowdown this year is driven partly by core operational issues, including wells producing less than Continue Reading
Oil shipping rates soar as U.S. supertanker sanctions rattle crude trade
Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units Continue Reading
Goldman Sachs Sees Opportunity In The Shale Crisis
Despite years of burning through cash, and the deep sense of anxiety within the shale industry itself, Goldman Sachs says the current down market represents a buying opportunity. Through August Continue Reading
US Rig Count Drops by Eight
The U.S. dropped six oil rigs and two gas rigs for a net loss of eight rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped six Continue Reading
EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia – Today in Energy – U.S. Energy Information Administration (EIA)
In its newly released International Energy Outlook 2019 (IEO2019) Reference case, the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and Continue Reading
Oil May Still Be Needed for Decades Despite Climate Push
While global leaders meet in New York to discuss solutions to climate change, the U.S. government has offered a sober assessment of the world’s ability to wean itself off fossil Continue Reading