Highlights IEA raises 2021, 2022 demand forecasts by 200,000 b/d Global oil demand to average 99.7 million b/d in 2022 Cautions over the potential for volatile oil market this year Continue Reading
As they strain to restore oil production, OPEC and its allies are being left with a diminishing buffer of spare supplies — potentially setting up crude prices for a sizzling Continue Reading
State-run Oil India exits from Niobrara shale business, sells entire stake Reliance divested entire holdings in Eagleford shale play in November Indian firms pursuing more profitable opportunities at home: Platts Continue Reading
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Several investment banks believe that demand will outstrip supply in early 2022 Just a handful of OPEC members are capable of meeting higher production quotas IHS’ Daniel Yergin: it’s almost Continue Reading
Frackers in America’s hottest oil field are facing an expensive new setback: earthquakes. Shale companies in West Texas will have to pay more to move millions of barrels of wastewater that surfaces Continue Reading
Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling Continue Reading
Below are a number of oil, crude plus condensate (C + C ), production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated Continue Reading
The Eagle Ford Shale in South Texas, long dormant compared to its larger cousin the Permian Basin, saw its biggest one-week jump in drilling activity in more than two years Continue Reading
The number of active drilling rigs in the United States rose by 13 this week, bringing the total rig count at 601, as oil prices keep to bull territory even Continue Reading
