EIA
Oil & Gas 360 Publishers Note: With the uncertainty of OPEC and OPEC + to control inventories, it would make sense for a national security to create the North American Oil Produces Consortium (NOPC) with Canada, US and Mexico. …
EIA
Oil & Gas 360 Publishers Note: We have been covering the floating storage issues on our Daily Energy Market News Desk, and the subsequent impact on world crude pricing.
In March and April 2020, reduced demand for crude …
EIA
Disruptions to crude oil and condensate production from members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries have risen considerably since last year. These outages have contributed to reduced liquid fuel supply and, along with …
LONDON – Excess petroleum inventories are being absorbed as lower prices compel U.S. shale producers and the members of OPEC+ to limit their output, confirming the market is on course to rebalance in 2021.
In the United States, total …
EIA
Fossil fuels, or energy sources formed in the Earth’s crust from decayed organic material, including petroleum, natural gas, and coal, continue to account for the largest share of energy production and consumption in the United States. In 2019, 80% …
NEW YORK – Refiners have always produced fuel using crude oil. Now some are using grease.
A slump in demand for gasoline since the onset of the coronavirus pandemic has several refining companies accelerating their plans to retrofit facilities …
ConocoPhillips reported a wider-than-expected loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices, sending shares of the world’s largest independent oil and gas producer down nearly 9%.
The pandemic brought travel and other businesses …
Oil giant Royal Dutch Shell on Thursday reported a sharp drop in net profit for the three months through to the end of June, following an unprecedented period of energy market turmoil and significantly weaker oil and gas prices.
According to publicly filed financial statements, 40 U.S. oil producers collectively wrote down $48 billion worth of assets in the first quarter of 2020, the largest quarterly adjustment since at least 2015. Low crude oil prices contributed to significant …
According to the financial reports analyzed by the U.S. Energy Information Administration (EIA), global expenditures related to oil and natural gas exploration and development (E&D) increased $42 billion (13%) for 102 publicly traded oil companies in 2019, totaling $361 …
Oil markets are re-balancing after a collapse in demand following the coronavirus outbreak but the pathway to “the next normal” is still very uncertain, the CEO of Abu Dhabi’s National Oil Company (ADNOC) said Thursday.
“There are good signs
EIA
Oil & Gas 360 Publishers Note: Very interesting data provided by the EIA. If the U.S. energy production exceeded consumption in 2019 with no Covid 19 Virus, what in the world is going to happen this year?
In 2019, …
On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of …
An unprecedented collapse in U.S. oil prices has prompted energy market participants to reflect on the difficulty and costs of storing crude.
At a time when the coronavirus crisis continues to crush global demand, the world is awash with
LONDON – Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand …
360 News Wire
New, dismal supply and demand outlook could contain overlooked bright spots
Oil & Gas 360 Publishers Note: We had the opportunity to interview Bernadette Johnson, VP, Enverus, last month about trends they were seeing. Check out the …
China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average. China remains the world’s top crude oil importer, surpassing the United …
MIDLAND, Texas, March 09, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today provided an operational update given recent commodity price volatility. Diamondback is reducing activity immediately from nine completion crews …
EIA
Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels. The 2019 growth rate was down from a 17% growth rate in …
In the Annual Energy Outlook 2020 Reference case, EIA projects that the United States will remain a net exporter of total petroleum liquids; however, the United States will remain a net importer of crude oil through 2050.
United …
ESal Engineered Salinity corporate presentation was at 4:35 P.M The presentation live streamed, and the recorded presentation is below.
Salem Thyne talked about how the oil recovery process can save money while positively impact the environment. This is important to
In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the …
Following nearly 10 years of relative price stability, shipping rates for crude oil tankers have fluctuated widely since mid-2018 because of a combination of geopolitical events and changes to maritime fuel specifications. The U.S. Energy Information Administration (EIA) estimates …
U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average first full month of oil production from new wells …
Adds comments from Opec source and updates China imports total
Dubai, 27 January (Argus) — Concern about the potential impact of the Chinese coronavirus outbreak on oil demand is putting mounting pressure on crude prices, outweighing Libyan supply disruptions …
NEW YORK – Oil prices were flat on Thursday, supported by signs of improving Washington-Beijing trade relations and rising tensions in the Middle East but pressured by a strong U.S. dollar.
Brent crude futures LCOc1 were unchanged at $66.00 …
NEW YORK – Oil prices rose on Friday and were on track for weekly gains as a meeting of OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.
The additional cuts …
Source: Houston Chronicle
Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied.
Futures lost as much as 0.8% in New York after rising 5.6% over …
