Permian basin production could accelerate
The expansion of a Texas oil pipeline is likely to support more production from the prolific Permian shale basin, the Federal Reserve Bank of Dallas said. Texas is the No. Continue Reading
Governor opposition complicates Trump administration’s Atlantic drilling plans
The Trump administration is facing increasing pressure from governors of East Coast states to keep federal Atlantic waters out of the five-year oil and natural gas leasing plan it hopes Continue Reading
Growing Shale Output Drags Oil Prices Lower
Oil prices flipped from losses to slight gains Thursday morning as the market rebounded from three week lows. U.S. crude futures were recently up 8 cents, or 0.17%, at $46.86 Continue Reading
U.S. gasoline production is running near record levels
Gasoline production by U.S. refiners and blenders has run near record levels over the first seven months of 2017, with four-week rolling average production well above its five-year average and Continue Reading
Citi: U.S. Shale Beats OPEC At $40 Oil
Citigroup has said that U.S. shale will prevail over OPEC because of its higher resilience to low prices and OPEC’s losing strategy of cutting output and losing revenues and market Continue Reading
Are Investors Bailing On U.S. Shale?
U.S. oil production continues to grow, with the EIA reporting a shocking jump in output last week. Total U.S. production rose to 9.5 million barrels per day (mb/d) for the Continue Reading
Why Would Oil Demand Peak, Contrary to Peak Oil Supply?
People find it hard to believe that there is another side of the ‘Peak Oil Supply’ theory, which is ‘Peak Oil Demand’. The oil industry is quite familiar with the Continue Reading
Will Oil Demand Growth Be Enough To Tackle Inventories?
The first is a report on bets taken by the highly successful hedge fund manager Pierre Andurand on the direction for prices. Andurand is predicting prices will rise above $100 Continue Reading
Oil producers signal offshore return in latest Gulf of Mexico auction
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return Continue Reading
U.S. crude stockpiles fall the most in nearly a year: EIA
U.S. crude oil inventories fell for the seventh consecutive week in their largest drawdown in nearly a year while exports and production continued to rise, the Energy Information Administration said Continue Reading