U.S. Rig Count Rises For 15th Straight Week As WTI Nears $93
The number of active drilling rigs in the United States rose by 3 this week—the 15 th straight weekly increase to the number of oil and gas rigs in the Continue Reading
US producers reporting stellar results, but snags seen ahead
Oil output rises, but will it be too much? Inflation set to rise 10%-15% Rig count has risen 5% so far in 2022 The first week of upstream producers’ Q4 Continue Reading
U.S. Shale Surge Should Worry Oil Markets, Conoco CEO Says
ConocoPhillips said traders should be worried about strong oil production growth coming out of the U.S. this year and in 2023, potentially echoing the supply surges of the past decade. Continue Reading
Oil Frackers Brace for End of the U.S. Shale Boom – WSJ
The end of the boom is in sight for America’s fracking companies. Less than 3½ years after the shale revolution made the U.S. the world’s largest oil producer, companies in the oil Continue Reading
The Next Big Problem For U.S. Shale
U.S. oil production growth picked up the pace in the fourth quarter. A big part of the higher capital spending in the U.S. oil industry will be because of cost Continue Reading
The Market Is Ignoring The Surge In U.S. Oil Output
Bullish Wall Streets banks see supply deficits in 2022, while OPEC, the IEA and the DoE are forecasting surpluses. Standard Chartered says a surge in U.S. oil output in Q4-2021 Continue Reading
Low Oil Inventories Suggest Imminent Supply Deficit
The global crude market could follow natural gas markets as inventories continue to dwindle The International Energy Agency, this month, reported on a gap between its global inventory calculations and Continue Reading
Summary of Weekly Petroleum Data for the week ending January 28, 2022
U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending January 28, 2022 which was 248,000 barrels per day less than the previous week’s average. Continue Reading
US distillate stocks touch five-week low as winter weather supports demand
Highlights Cold snap supports distillate demand USAC diesel stocks hit eight-month low Crude stocks fall 1.05 million barrels US distillate inventories moved lower for a third straight week in the Continue Reading
The Lack of Fossil Fuel Investment Is Hindering The Energy Transition
Last week, the CEO of Saudi Aramco announced that the global clean energy transition is “not going smoothly.” Underinvestment in fossil fuels has led to soaring prices across the globe. Continue Reading