Why The Market Doesn’t Need Much More OPEC+ Oil
While the Biden Administration calls on OPEC+ to boost production more than planned, the major oil forecasters scaled back their outlook on how much OPEC+ crude the market would need. Continue Reading
First New Oil Sands Pipeline in Years Could Start Next Month
A key pipeline linking Canada’s oil sands to U.S. markets could start shipping crude as early as next month. Enbridge Inc.’s Line 3 oil pipeline from Alberta to Wisconsin could Continue Reading
U.S. Rig Count Rises To 16-Month High
The number of oil and gas rigs in the United States rose by 9 this week, according to Baker Hughes —after rising by 3 last week. The total rig count Continue Reading
U.S. drillers add most oil rigs in a week since April
U.S. energy firms added the most oil rigs in a week since April as the total rig count more than doubled from a record low a year ago amid a Continue Reading
Shale Driller Posts Rare Negative Revenue After Hedging Losses
The global gas rally left a bitter aftertaste for one U.S. shale driller that posted negative revenue after it had to write down the value of its output hedges. Vine Continue Reading
Scotland’s Sturgeon Asks Johnson to Rethink Oil, Gas Permits
Scotland’s First Minister Nicola Sturgeon called on the U.K. government to reconsider oil and gas licenses, just days after a United Nations panel warned of dire consequences for the planet without drastic Continue Reading
US oil, gas rig count jumps 14 to 617 on week as companies sound upbeat note
Highlights Bakken sees biggest weekly change, up 3 to 25 Permian Basin down by 1 rig, leaving 257 2022 operator thought suggests caution on oil markets The US oil and Continue Reading
EIA Lowers Oil Production Expectations For 2022
U.S. crude oil production this year will average 11.1 million bpd and will rise to 11.8 million bpd in 2022, the Energy Information Administration said in its latest Short-Term Energy Continue Reading
Summary of Weekly Petroleum Data for the week ending August 6, 2021
Summary of Weekly Petroleum Data for the week ending August 6, 2021 U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending August 6, 2021 Continue Reading
The Dawn Of A New Era In Deepwater Drilling
A new era in deepwater drilling is about to begin. With the sanctioning of the Anchor project super-major operator, Chevron, NYSE: CVX) signaled that it was ready to risk billions Continue Reading