U.S. Rig Count Stalls
The number of total active drilling rigs in the United States fell by 1 again this week, according to new data from Baker Hughes published on Friday. It is the Continue Reading
US crude output likely to see little change from rollercoaster court rulings on leasing pause
New injunction narrowed in scope to 13 states Platts Analytics sees no immediate oil supply impacts Little to no new leasing activity expected in the Western US A new permanent Continue Reading
Oil Jumps On Massive Crude Inventory Draw
Crude oil prices moved higher today, after the Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12. This compared with Continue Reading
U.S. Crude Inventories Fell To Lowest Level Since 2004 In June
JODI: global crude inventories fell by 21.8 million barrels to 915.8 million barrels in June. The low level of crude inventories coincided with record-high gasoline prices in the U.S. in Continue Reading
Gulf of Mexico Oil Leases Up in the Air Amid Another Court Ruling
A U.S. court of appeals has ruled that President Joe Biden’s pause on oil and gas leases on public land can be reinstated, just days after the passage of a Continue Reading
Gulf of Mexico Disturbance Gathers Strength
The chance of the weather pattern forming into a cyclone through the next 48 hours has risen. An unnamed weather disturbance projected to move over the southwestern Gulf of Mexico Continue Reading
U.S. Shale Faces More Than $10 Billion In Hedging Losses
U.S. shale oil producers are in line to suffer more than $10 billion in derivative hedging losses this year. E&Ps typically employ derivative hedging to limit cash flow risks and Continue Reading
U.S. big company oil reserves up 13% since 2017, deals drive recent growth -study
U.S. oil reserves held by 50 large companies rose by 13% over the five years ended in December, according to an Ernst & Young report released on Wednesday, with mergers Continue Reading
WTI Stops Slide As API Figures Show Major Gasoline Draw
The American Petroleum Institute (API) reported a draw this week for crude oil of 448,000 barrels, while analysts predicted a smaller draw of 117,000 barrels. The draw comes as the Continue Reading
Permian Basin On Track For Record September Production
The largest shale basin in the United States, the Permian, is on track to hit a record 5.408 million barrels per day next month, with production set to rise by Continue Reading