The world’s most prominent oil forecaster, the International Energy Agency, anticipates near-equilibrium between supply and demand in global crude markets next year. If OPEC members can’t resolve some massive output Continue Reading
Oil Rig In my last article for OilPrice.com (May 16, 2016), I laid out my reasoning for a prediction that the Global Oil Markets would soon be back in balance. Continue Reading
The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to Continue Reading
Drillers forced to slash spending during the oil slump may soon be facing another hurdle: a funding shortfall to the tune of $2 trillion over the next five years. That Continue Reading
ABS to provide clarification to industry through an update of its rig layup and reactivation guide. With drilling activity down due to low oil prices, a number of offshore drilling Continue Reading
The economic outlook for the state of Oklahoma is negative as the revenue stream ebbs as a result of lower oil prices, Moody’s Investors Service says. Moody’s said Oklahoma’s credit Continue Reading
Oil Barrels Oil futures moved up slightly on Wednesday morning following the U.S. Energy Information Administration’s (EIA) official weekly report showing U.S. crude inventories down by 900,000 barrels for the Continue Reading
The deepest cuts in spending in the oil sector are coming out of the shale basins in the Lower 48 U.S. states, an analysis from Wood Mackenzie found. A report Continue Reading
The Bakken and North Dakota production data is out. Big surprise. The Bakken was down 69,420 barrels per day in April while all North Dakota was down 70,414 bpd. Largest Continue Reading
North Dakota’s oil output fell the most in history in April, with low crude prices CLc1 and inclement weather forcing producers to cut back the drilling and fracking of new Continue Reading
