Oil Prices Rise Despite Climbing Rig Count
Baker Hughes reported another 6-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 990, which is Continue Reading
U.S. drillers add oil rigs for seventh week in eight: Baker Hughes
U.S. energy companies added oil rigs for the seventh time in the last eight weeks on expectations crude prices in 2018 will top 2017, prompting more drillers to boost spending Continue Reading
Permian gas production surge faces looming market, infrastructure constraints
An unrelenting surge in Permian Basin drilling, which is driving record gas production growth there this year, now appears to be facing market and infrastructure constraints that could come as Continue Reading
U.S. Shale’s Dirty Secret
U.S. shale is surging, threatening to take even more market share away from OPEC. But the prospect of U.S. oil edging out barrels from the Middle East is not nearly Continue Reading
How Will OPEC React To Soaring Shale Production?
In its March Oil Market Report , OPEC revised up its forecast of non-OPEC supply for 2018 by 280,000 bpd, a major revision. That equates to year-on-year growth of 1.66 Continue Reading
EIA Stuns Oil Market With Huge Inventory Build
After plunging oil bulls into deeper gloom by forecasting a 131,000-bpd jump in shale oil production next month, the Energy Information Administration reported a 5-million-barrel increase in crude oil inventories Continue Reading
The Shale Boom: 100 Million Years In The Making
The great oil and gas formations that U.S. shale drillers thrive on have reportedly been traced back to volcanic eruptions from the time of the dinosaurs, over 100 million years Continue Reading
Increased Oil Hedging Hints At Permian Production Boom
Oil hedges have become popular amongst U.S. shale drillers, who have used the financial trick to lock-in higher prices for their raw goods as barrel prices edge higher. The prices Continue Reading
Will US shale give the refining industry indigestion?
In the oil market, not all barrels are created equal. By the end of this year, the US oil industry will be pumping 11m barrels a day of crude, the Continue Reading
U.S. crude inventories seen up for third week, products likely down
U.S. crude inventories were forecast to have risen for the third straight week, while refined product stockpiles likely fell last week, a preliminary Reuters poll showed on Monday. Six analysts Continue Reading