U.S. oil firms tell OPEC their growth will slow
U.S. oil producers sought on Wednesday to soothe OPEC’s worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher Continue Reading
Russia’s Wealth Fund: Oil Price War With U.S. Would Hurt Russian Economy
Russia shouldn’t try to bring U.S. shale production down with an oil price war, because Moscow would also be hurt in such an event, according to Kirill Dmitriev, chief executive Continue Reading
Permian oil growth to slow to rate last seen in 2016: EIA
Permian oil production is currently growing but at the slowest rate in more than two years, the US Energy Information Administration said Tuesday. In its monthly Drilling Productivity Report, EIA Continue Reading
Shale Slowly Choking Off Historic Gasoline Trade
The rise of U.S. shale oil is choking off a historic gasoline trade, dealing a blow to European refineries that for decades have relied on American drivers to buy their Continue Reading
Frac Water Demand in US Skyrockets
New research by Rystad Energy finds that the demand for frac water in the US has more than doubled since 2016. The demand for frac water in the United States Continue Reading
Capital raising by US oil companies falls sharply
Capital raising by US oil exploration and production companies has fallen sharply following the decline in crude prices that began last October, pointing to cutbacks in capital spending budgets and Continue Reading
Warning Signs Flash For U.S. Shale
The shale tidal wave may finally be starting to ebb. The largest oilfield services company in the world says that shale drilling activity is slowing, creating an uncertain outlook for Continue Reading
Drilling Productivity Report
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
Halliburton shares fall as North America lags
Shares of oilfield firm Halliburton Co fell sharply on Tuesday after the company forecast lower revenues in key business areas in the first quarter, overshadowing a quarterly profit beat and Continue Reading
U.S. shale boom set to cool in 2019: Kemp
U.S. crude oil production will continue to grow through 2019 and 2020, but at a much slower pace than in 2018, according to the latest forecasts from the U.S. Energy Continue Reading