The North American Frac Spread Count has increased to triple digits this week, according to big data company Primary Vision . The Frac Spread Count, which calculates the fracking completion Continue Reading
Summary of Weekly Petroleum Data for the week ending September 25, 2020 U.S. crude oil refinery inputs averaged 13.7 million barrels per day during the week ending September 25, 2020 Continue Reading
Oil production from the US lower 48 states, excluding the Gulf of Mexico, peaked at 9.2 million barrels per day in August following back-to-back increases since June. This climb has Continue Reading
Highlights North Dakota retakes No. 2 spot from New Mexico Offshore output increases 5% ahead of storm season Platts Analytics sees 2021 output at 10.24 million b/d Washington — US Continue Reading
US crude inventories unexpectedly declined in the week ended Sept. 25 as exports surged to a 20-week high, US Energy Information Administration data showed Sept. 30. Receive daily email alerts, Continue Reading
US taxpayers could be left footing a bill of tens or even hundreds of billions of dollars to clean up oil and gas wells across the country as a growing Continue Reading
French energy giant Total SE (formerly Total S.A.) spread more doom and gloom into the oil markets today, foretelling of the oil industry’s ultimate horror—peak oil demand. In its Energy Continue Reading
For a President Joe Biden, rejoining the Paris Agreement would be almost as simple as signing an autograph. The hard part would be everything else. With global warming already fueling wildfires, Continue Reading
I have always viewed politicians that promise to ban hydraulic fracturing — commonly known as “fracking” — with some level of suspicion. In fact, a year ago as candidates were Continue Reading
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations Continue Reading
Devon Energy Corp. agreed to acquire WPX Energy Inc. in a $2.56 billion all-stock deal, creating one of the largest independent U.S. shale producers and answering investor calls for consolidation Continue Reading
OECD commercial oil inventories are expected to stand slightly above the five-year average through Q1 2021, before dropping below that benchmark for the remainder of the year, OPEC Secretary General Continue Reading
U.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a company worth around $6 billion, people familiar Continue Reading
The world has already passed “peak oil” demand, according to Carbon Brief analysis of the latest energy outlook from oil major BP. The 2020 edition of the annual outlook reveals Continue Reading
With the U.S. oil industry reeling from the collapse in demand this year, the New Mexico shale patch has emerged as the go-to spot for drillers desperate to squeeze as Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 4 to 183. The total number of active oil and gas rigs increased Continue Reading
Oil workers in New Mexico fear they will lose their jobs and oil companies are rushing to secure drilling permits on federal lands ahead of the presidential election, which could Continue Reading
U.S. President Donald Trump said on Friday he had extended a ban until 2032 on oil drilling off the coast of North Carolina and Virginia, weeks after a similar extension Continue Reading
The world has already passed “peak oil” demand, according to Carbon Brief analysis of the latest energy outlook from oil major BP. The 2020 edition of the annual outlook reveals Continue Reading
Maintaining oil production will be the top priority for U.S. oil drillers for the next six months, according to the latest installment of the Dallas Fed quarterly energy survey . Continue Reading
The US oil and gas rig count rose by 15 to 308 in the week ending Sept. 23, rig data provider Enverus said, marking the largest weekly gain in more Continue Reading
While Permian oil and gas production was soaring in 2018, U.S. midstream operators were planning and building pipeline takeaway capacity, expecting that the largest U.S. shale play would increase output Continue Reading
During a panel discussion in which I participated recently with three energy experts, the moderator asked us if we agreed with the recent projection by British oil giant BP that Continue Reading
The OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of next Continue Reading
Oil and gas operations in the US Gulf of Mexico are returning to normal following the passing of Tropical Storm Beta and Hurricane Sally. Receive daily email alerts, subscriber notes Continue Reading
Two-thirds of US oil and natural gas executives surveyed by the Federal Reserve Bank of Dallas in September believe US oil production has peaked. Receive daily email alerts, subscriber notes Continue Reading
US shale oil production can reach new highs beyond the 13 million b/d mark achieved in late 2019, although it will take oil prices of around $60/b for that to Continue Reading
At World Oil, we have finished compiling the 2020 mid-year forecast update for drilling and production. On the drilling side, we now can tell you, our readers, that if this Continue Reading
Offshore US Gulf of Mexico oil and gas production continued to recover Sept. 21 as Tropical Storm Beta was preparing to make landfall along the Texas coast, US Bureau of Continue Reading
While most of the market’s attention has been focused on how fast gasoline demand will recover, lower economic and manufacturing activity in all regions of the world has led to Continue Reading
Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, Continue Reading
It is less than two months since Donald Trump travelled to Texas to declare that the US energy industry, laid low by this year’s oil price crash, was back on Continue Reading
1. BP sees oil demand already at a peak – BP (NYSE: BP) made major headlines this week when it released its latest energy outlook, which laid out three scenarios, Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 1 to 179. The total number of active oil and gas rigs increased Continue Reading
Preface . If you think we have no worries because we can get arctic oil , think again. We can’t because icebergs mow drilling platforms down in the ocean. On Continue Reading
Global inventories of crude oil declined by 45 million barrels in August after a 34-million-barrel reduction in July, Russia’s Energy Minister Alexander Novak said in a TV interview. “Reserves accumulated Continue Reading
OPEC and the International Energy Agency delivered bad news for the oil market this week. Both authorities revised their oil demand forecasts for this year, and both revised them downwards. Continue Reading
Just two years ago, U.S. pipeline operators were rushing to build pipelines in Texas to move surging Permian oil and gas production to the refining and export centers on the Continue Reading
Despite oil production curtailments earlier this year that are not fully back online, the United States maintained its global status as the leading supplier of crude oil in July, ahead Continue Reading
The US oil and gas rig count climbed six in the week ended Sept. 16 to an eight-week high 293, rig data provider Enverus said Sept. 17, but drilling activity Continue Reading
More than 30% of US Gulf of Mexico offshore oil and 25% of natural gas output remained offline Sept. 17 after Hurricane Sally made landfall the day prior, according to Continue Reading
One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios Continue Reading
Big oil traders are rushing to book tankers with a view to storing a glut of refined petroleum like diesel and jet fuel on the world’s oceans. The interest in Continue Reading
Vitol Group, the world’s largest independent oil trader, expects global oil inventories to continue drawing down for the rest of the year, unlike its rivals and many analysts who see Continue Reading
There has been more than enough written about the woes of various segments of the oil industry and related industries so far this year. But there is one industry that Continue Reading
US crude inventories declined in the week ended Sept. 14 as refinery demand rebounded following Hurricane Laura and imports flagged, US Energy Information Administration data showed Sept. 16. Commercial crude Continue Reading
More than a quarter of the U.S. Gulf of Mexico offshore oil and gas production remained shut on Wednesday by Hurricane Sally, which moved inland dumping heavy rains and cutting Continue Reading
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
North American shale producers far outspent their revenue in the second quarter despite making deep spending cuts to survive the worst oil price crash in decades. Operators idled rigs, sacked workers Continue Reading
Crude oil production in the U.S. shale patch is set to decline by 68,000 bpd next month, with every play registering declines in output except the Permian, the Energy Information Continue Reading
