U.S. oil output to rise to 12.9 million bpd in 2020: EIA
Crude oil output from the United States is expected to rise to a new record of more than 12 million barrels per day (bpd) this year and to climb to Continue Reading
Short-Term Energy Outlook
EIA forecasts Brent prices will average $61 per barrel (b) in 2019 and $65/b in 2020. In 2018, Brent prices averaged $71/b. EIA expects West Texas Intermediate (WTI) crude oil Continue Reading
Permian Shale Oil Boom Holds Mixed News for OPEC
The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014. A new production cuts deal with Continue Reading
Fracked Shale Oil Wells Drying Up Faster than Predicted, Wall Street Journal Finds
In 2015, Pioneer Natural Resources filed a report with the federal Securities and Exchange Commission, in which the shale drilling and fracking company said that it was “drilling the most Continue Reading
Heavy Crude: From Glut To Shortage
Just a few months ago Canadian heavy crude oil producers were sending their product to storage amid a painfully deep price discount to West Texas Intermediate that ate into their Continue Reading
How Supermajors Are Transforming The Permian
The Permian Basin was once a hotbed of small, independent prospectors, wide-eyed wildcatters, and small companies hoping to strike it rich. Now, it is brimming with supermajors clamoring to buy Continue Reading
Fears Of U.S. Shale Demise May Be Overblown
Recently, there has been some concern about the ability of U.S. shale , and in particular, the Permian Basin, to continue the meteoric increases in production that have characterized the Continue Reading
Oil Majors Bet Big On Offshore Drilling In 2019
Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reported Continue Reading
US shale oil producers ride OPEC coattails, but Saudi Arabia doesn’t mind, Falih says
OPEC has thrown a “lifeline” to US shale producers by cutting output to boost oil prices, Saudi energy minister Khalid al-Falih said Sunday, rejecting the notion of a market share Continue Reading
2018 Was A Record Breaking Year For Energy Markets
I had intended to grade my 2018 energy predictions before now, but one of them wasn’t decided until the last day of the year. But after the stock market closed Continue Reading