Short-Term Energy Outlook
Forecast Highlights Global liquid fuels Brent crude oil spot prices averaged $65 per barrel (b) in November, down $16/b from October, the largest monthly average price decline since December 2014. Continue Reading
STEO highlights: EIA cuts Brent, WTI 2019 forecasts nearly $11/b amid supply glut
he US Energy Information Administration on Tuesday reduced its forecasts for WTI and Brent spot prices in 2019 by nearly $11/b, largely due to record global output, particularly in the Continue Reading
U.S. expected to end 2018 as world’s top oil producer: EIA
U.S. crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration said on Tuesday, but at a record 10.88 million Continue Reading
Hundreds of Texas Oil and Gas Workers to Lose Jobs in New Year
Layoffs are on the horizon for hundreds of oil and gas workers in Texas. A few hundred oil and gas workers will find themselves without jobs near the start of Continue Reading
Analysts: Output Cuts To Balance Oil Markets In 2019
With a few days to digest the specifics of the OPEC+ deal, most analysts deem the result a success. But that does not mean that there are no pitfalls left Continue Reading
The Next Big Development In Offshore Oil & Gas
Siemens last week announced the launch of the first hybrid power plant for offshore rigs combined with energy storage featuring lithium-ion batteries. The company first unveiled the Blue Vault power Continue Reading
The Real Implications Of The New Permian Estimates
This week the United States Geological Survey (USGS) announced a groundbreaking oil and gas discovery in West Texas’ Permian Basin. According to the organization’s recent press release , a whopping Continue Reading
OPEC, Russia agree to slash oil output despite Trump pressure
OPEC and its Russia-led allies agreed on Friday to slash oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price Continue Reading
OPEC coalition cuts unlikely to affect US shale output: analysts
Saudi Arabia’s energy minister Khalid Al-Falih said Friday that US oil and natural gas producers were “breathing a sigh of relief” over the planned production cut announced Friday, but analysts Continue Reading
Chevron Shrugs Off Lower Oil to Boost Spending on Shale Projects
Chevron Corp. raised its spending budget for the first time since 2014 even as crude prices plummet, doubling down on U.S. shale. The world’s third-largest oil producer by market value will Continue Reading