OPEC Sees Peak Oil Demand In Just Over A Decade
OPEC is hedging its bets regarding peak oil demand, and has included a scenario in its plans that account for it arriving in just over a decade, should the Paris Continue Reading
OPEC sees rival oil supply down, but not out
Global demand for OPEC’s crude oil will rise in the next three years, the group forecast, suggesting its 2014 decision to let prices fall to curb costlier rival supplies such Continue Reading
U.S. crude output in 2016, 2017 to fall less than expected: EIA
The U.S. Energy Information Administration expects U.S. crude oil production for 2016 and 2017 to fall by less than previously expected, according to its monthly short term energy outlook released Continue Reading
Energy Information Administration Raises Forecast for 2017 U.S. Oil Production
The Energy Information Administration said increased drilling activity in west Texas’ Permian basin will boost… U.S. government forecasters anticipate U.S. oil production will fall more slowly than expected, led by Continue Reading
British Offshore Industry: Expect The Unexpected
The majority of us will say check out last year’s figures – only 13 exploratory wells were drilled in 2015. As energyvoice.com put it – “Exploration in British waters has Continue Reading
Asia’s oil glut persists: China imports slump, floating storage lingers
From ongoing floating fuel storage to weak Chinese oil data on Tuesday, the two-year supply overhang that has haunted markets is not over, but the glut has eased from last Continue Reading
U.S. fracking sand firms boost prices in sign of shale recovery
U.S. producers of sand used to extract oil from shale are raising prices due to stronger demand, a sign higher oil prices are improving the outlook for the domestic fracking Continue Reading
Oil wells drilled horizontally are among the highest-producing wells
An oil well is defined as producing less than 6,000 cubic feet of natural gas for each barrel of oil produced in a year. Vertical wells include directionally drilled wells Continue Reading
Nationwide US fracking ban would cause gas price to spike: study
A nationwide US ban on hydraulic fracturing would have a devastating effect on the natural gas industry and the country’s economy as a whole, causing prices to spike to $12/MMBtu Continue Reading
Report: Fracking Ban Would Cost US Almost 15 Million Jobs By 2022
A new study released by the US Chamber’s Institute for 21st Century Energy says a complete ban on hydraulic fracturing would be detrimental to the US economy. If an outright Continue Reading