Permian Basin Update, February 24, 2022
Much of the information for this post comes from data at shaleprofile , and assessments by the USGS . In addition a paper published in Jan 2022 by Wardana Saputra Continue Reading
Energy Transition Accelerating Faster Than Ever, Industry Says
Energy industry leaders believe the energy transition is accelerating faster than ever with 2022 set to be a strong year for industry growth. Energy professionals revealed that energy industry leaders Continue Reading
Global oil tanker rates jolt higher on high fuel prices, risk premiums
Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean Continue Reading
U.S. crude stockpiles rise, fuel inventories fall -EIA
U.S. crude stockpiles rose sharply, while gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories (USOILC=ECI) rose by 4.5 million barrels in the Continue Reading
API Reports First Crude Build In Five Weeks
The American Petroleum Institute (API) estimated the inventory build this week for crude oil to be 5.983 million barrels after analysts predicted a build of 767,000 barrels . U.S. crude Continue Reading
White House again contemplates SPR release as oil prices stay above $90/b
Highlights Russia-Ukraine risks keep oil prices elevated DOE offered 50 million barrels in November US SPR inventory falls to lowest in 19 years The Biden administration signaled Feb. 22 that Continue Reading
Biden Delays Oil Permits as Gasoline Prices Surge on Ukraine
The Biden administration has delayed issuing permits for new oil and gas drilling on federal land, a move that could complicate efforts to tame gasoline prices that are poised to Continue Reading
Oil majors and commodity traders at risk from new sanctions on Russia
Some of the world’s biggest oil companies and commodity traders are at risk of disruption to their extensive business operations in Russia if the west follows through with “unprecedented” sanctions Continue Reading
Middle Eastern Oil Nations Hike Prices As Production Falters
Middle Eastern oil producers hiked their March-loading formula prices on the back of tight inventories and strong demand. The divergence between OPEC’s self-reported production figures and third-party assessments continues to Continue Reading
Are U.S. Shale Firms Spending Enough On New Oil Projects?
Analysts are predicting higher-for-longer oil prices, and it’s becoming a major problem for Biden. The consequences of underinvestment on a global level are only beginning to be felt now. Despite Continue Reading