Commodity Pricing

Source: Reuters

Morgan Stanley not given advisory role on Aramco pipeline sale: sources

Reuters


LONDON/DUBAI  – Morgan Stanley (MS.N) has not been given an advisory role on the potential sale of a stake in Saudi Aramco’s pipeline business, a deal worth over $10 billion, two sources told Reuters.

The U.S. investment …

Exclusive 360 Energy Expert Network Video Interview: Netherland, Sewell Discusses Reservoir Implications of Shut-In Wells

Exclusive 360 Energy Expert Network Video Interview: Netherland, Sewell Discusses Reservoir Implications of Shut-In Wells

OIl & Gas 360

 

The teams from Netherland, Sewell & Associates, Inc. (NSAI) and EnerCom/Oil & Gas 360® took the time to cover some critical reserves implications surrounding shut-in wells in this wild, worldwide

360 Digital Closing Bell 5-28-2020

360 Digital Closing Bell 5-28-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 6 min summary of the energy markets.  

 

Oil down - Securities get pounded, Tech stocks up, nice draw at Cushing. Jobs

Source: Reuters

Rise of remote working is ‘biggest threat to oil demand,’ says analyst

CNBC


Working from home has become the norm, and if the trend continues even after the pandemic abates, it could pose a big risk for oil, analysts are warning.

“The biggest threat to oil demand is the rise of remote …

Source: Reuters

Oil services firm Subsea 7 to lay off 3,000 following oil market slump

Reuters


OSLO – Oil services firm Subsea 7 announced on Thursday that it will cut its global workforce by a quarter and reduce its fleet of specialized vessels by up to a third to preserve cash following the slump in …

Source: Reuters

OPEC, Russia bargain over oil cuts ahead of June meeting

Reuters


LONDON/MOSCOW/DUBAI – Saudi Arabia and some other OPEC oil producers are considering extending record high output cuts until the end of 2020 but have yet to win support from Russia, according to OPEC+ and Russian industry sources.

The Organization …

Oil prices steady, awaiting confirmation of surprise U.S. inventory build

Oil prices steady, awaiting confirmation of surprise U.S. inventory build

Reuters


LONDON – Oil futures steadied on Thursday as the market awaited confirmation of industry data that showed a surprise increase in U.S. crude stocks, which offset hopes for a demand recovery as coronavirus lockdowns ease.

After tumbling on Wednesday, …

360 Digital Closing Bell 5-27-2020

360 Digital Closing Bell 5-27-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 6 min summary of the energy markets.  

 

Oil down - Equities Up - Dow Up 

 

International News Desk: -Coronavirus

Source: Reuters

Morgan Stanley sees tighter oil market, raises Brent forecast

Reuters


Morgan Stanley on Tuesday raised its year-end Brent price forecast to $40 per barrel, citing a faster-than-expected balance in global oil demand and supply as countries ease coronavirus restrictions and major producers cut supply.

 

“We expect demand to …

Source: Reuters

OPEC+ must plan exit strategy: Kemp

Reuters


LONDON – Saudi Arabia and its allies in the expanded OPEC+ group of oil-exporting nations have only just started to implement output cuts, so it might seem premature to start talking about the need for an exit strategy.

But …

360 Digital Closing Bell 5-26-2020

360 Digital Closing Bell 5-26-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 6 min summary of the energy markets.  

 

 Interesting day in the markets - demand is up! 

 

International News Desk: -

Source: Reuters

Demand rise, output cuts could mean oil market balance in June

Reuters


LONDON  – Recovering demand as coronavirus lockdowns ease combined with output cuts by top producers could balance global oil markets as soon as June, some analysts and banks predict.

“Bullish sentiment continues to gather momentum as we move closer …

The 360 Digital Closing Bell Look Ahead– 5-25-2020

The 360 Digital Closing Bell Look Ahead– 5-25-2020

VERY SPECIAL Mega Memorial Day 360 Digital Closing Bell episode #19 back for another week ahead in energy!

Show starts with Michael Tanner talking about what ESG might look like post-COVID19 as it relates to the markets (hint: slight history

Source: Reuters

Angola’s oil exploration evaporates as COVID-19 overshadows historic reforms

Reuters


LONDON/LAGOS  – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer.

The consequences could be grave …

360 Digital Closing Bell 5-22-2020

360 Digital Closing Bell 5-22-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 6 min summary of the energy markets.  

 

Oil up at 33.56 and market up. 

 





Source: Reuters

Negative pricing seen spreading from oil to gas as European demand slumps

Reuters


LONDON – A month after U.S. crude oil prices collapsed into negative territory, European gas markets are facing the prospect of also slipping into the red after a slump in demand and surging inventories pushed prices into low single …

Source: Reuters

Why bond investors are willing to bet on money-losing Pemex after oil price crash

Reuters


MEXICO CITY/NEW YORK  – Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.…

Source: Reuters

U.S. shale bust slams rural economies as oil checks shrivel

Reuters


DeWITT COUNTY, Texas – Royalties from oil pumped on Paul Ruckman’s land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s …

Source: Reuters

Oil drops over 4% on China-U.S. tensions, demand doubts

Reuters


LONDON – Oil fell over 4% on Friday to below $35 a barrel on rising U.S.-China tensions and doubts about the pace of demand recovery from the coronavirus crisis, although it remained on course for a weekly gain.

China …

360 Digital Closing Bell 5-21-2020

360 Digital Closing Bell 5-21-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 6 min summary of the energy markets.  

 

Oil up at 33.99 and market down. 

 





Show Notes: 


Transcript:

Source: superiorenergy.com

Superior Energy Services announces first quarter 2020 results

Oil and Gas 360


HOUSTON, May 21, 2020 (GLOBE NEWSWIRE) — Superior Energy Services, Inc. (NYSE: SPN) (the “Company”) today announced a net loss from continuing operations for the first quarter of 2020 of $32.3 million, or $2.18 per share, …

Source: Reuters

Column: U.S. petroleum stocks stabilize as industry adapts to shock – Kemp

Reuters


Excess inventories are clearing from the crude side first in response to output cuts, while a reduction in refined fuel stocks will take longer as consumption is slower to return.

Total inventories of crude and products, excluding the strategic …

Source: Reuters

U.S. grants royalty relief to hard-hit oil, gas drillers

Reuters


The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.

The move shows drillers …

Source: CNBC

Oil at highest since March on lower U.S. inventories, recovering demand

CNBC


Oil prices rose on Thursday to their highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people’s movements imposed due to the coronavirus crisis.

Crude prices have slumped …

360 Digital Closing Bell 5-20-2020

360 Digital Closing Bell 5-20-2020

The Great Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 7 min summary of the energy markets. This is an up day in the market.

 

Rystad Energy posting that there

Source: Reuters

Halliburton slashes dividend by 75% in latest move to save cash

Reuters


Oilfield services provider Halliburton Co slashed its quarterly dividend by 75% on Wednesday, the latest move by the company to shore up cash to cope with a dramatic plunge in oil prices that began in March.

U.S. oil prices …

Exclusive 360 Energy Expert Network Video Interview: Wolfepak -Oilfield automation is not optional for corporate survival.

Exclusive 360 Energy Expert Network Video Interview: Wolfepak -Oilfield automation is not optional for corporate survival.

OIl & Gas 360

 

With higher prices in oil, there is less pressure to automate systems. In the new world of low, and even negative pricing, any cost savings are mandatory. Doing more with fewer employees is now required,

Source: Reuters

Continental Resources pushes for regulatory action at North Dakota hearing

Reuters


Continental Resources, one of the largest U.S. shale oil producers, on Wednesday urged North Dakota energy regulators to intervene to help stabilize the state’s oil market through steps such as limiting output or restricting flaring of unwanted natural gas.…

Global demand for natural gas will drop 2% in 2020 as COVID-19 lockdowns take toll

Global demand for natural gas will drop 2% in 2020 as COVID-19 lockdowns take toll

Oil&Gas


Rystad Energy expects global gas demand to total close to 3,878 billion cubic meters (Bcm) in 2020, down from 3,951 Bcm last year

Commercial and industrial demand for natural gas is declining as most countries around the world impose …

May 20, 2020 - 11:00 am Commodity Pricing, Economy, International, Natural Gas News
Source; Reuters

Oil up on lower U.S. stocks, firmer demand

Reuters


LONDON – Oil prices firmed on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but worries over the economic fallout from the coronavirus pandemic and weak refining margins capped gains.

Brent crude futures LCoc1 …