U.S. oil and gas exploration and production companies are paying more to hire drilling rigs as the number of rigs still idle after the slump declines. Drilling costs were up Continue Reading
Global oil production surged in June “as producers opened the taps,” according to a new report from the International Energy Agency (IEA). OPEC was a major culprit, with Libya and Continue Reading
Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil supplies is “increasingly worrying”, due to a loss of $1 trillion Continue Reading
The rebalancing of global oil markets has become less certain, with OPEC production rising and little evidence that bloated stockpiles are shrinking as expected, the IEA says. (Bloomberg) — The Continue Reading
Global oil supply rose by 720 kb/d in June to 97.46 mb/d as producers opened the taps. Output stood 1.2 mb/d above a year ago with non-OPEC firmly back in growth mode. Non-OPEC production Continue Reading
The American Petroleum Institute reported a 62-percent annual increase in oil and gas drilling in the second quarter of 2017 in the United States. For oil, well completions shot up Continue Reading
The slow, but steady, gain in oil production expected from the U.S. waters of the Gulf of Mexico shows the region is more stable than shale, a rig analyst said. Continue Reading
The world is heading towards an oil deficit, if we are to believe recent headlines quoting the chief executive of Saudi Aramco, Amin Nasser. There is simply not enough investment Continue Reading
U.S. crude oil refinery inputs averaged over 17.2 million barrels per day during the week ending July 7, 2017, 103,000 barrels per day more than the previous week’s average. Refineries Continue Reading
The latest figures from the EIA show that despite some hiccups, the shale rebound is still on track. Last week, the sharp drawdown in inventories made headlines, but buried within Continue Reading
