U.S. production – Oil & Gas 360

CERAWeek 2025: How ExxonMobil is applying technology to maximize value in the Permian basin

March 14, 2025

(World Oil) – With the general sense of excitement about U.S. production carrying over from panels earlier in the week, ExxonMobil’s panel on operations in the Permian basin convened with great enthusiasm during day three of CERAWeek 2025 by S&P Global. ExxonMobil’s recent headlines have often been tied to their increasing successes and rapidly expanding prospects in offshore Guyana, ever

Will the world see a “Staggering” oil supply glut in 2030?

June 19, 2024

Oil Price The International Energy Agency (IEA) recently released its Oil 2024 report, which examines the global dynamics for oil supply security, refining, trade, and investment. The report received considerable media attention because of the projection that by 2030 oil production will reach “a staggering 8 million barrels per day above projected global demand.” The report cites the proliferation of electric vehicles,

OPEC’s trillion-dollar bet against U.S. shale

June 17, 2024

Oil Price Since 2008, the shale boom has grown U.S. oil production by about 9 million barrels per day. In the early days of the shale boom, when it wasn’t clear whether this development would have a significant impact, it was largely ignored by OPEC. By late 2014, as U.S. oil production growth was approaching 5 million BPD, OPEC decided

Oil price rise muted in 2019 despite sanctions, supply cuts, attack in Saudi Arabia

December 30, 2019

Reuters NEW YORK/SINGAPORE – Oil prices rose more than 20% this year but there were no sharp spikes and crude futures barely sniffed $70 a barrel despite attacks on the world’s biggest oil producer, sanctions that crippled crude exports of two OPEC members and gigantic supply cuts from big oil producing countries. The price gains in crude oil benchmarks were

OPEC’s Abu Dhabi Meeting: We Will Need “New Strategies to Balance the Market” in 2019 - Oil & Gas 360

U.S. Production Sees Largest Monthly Decline since the Start of the Downturn

June 30, 2016

U.S. production falls 220 MBOPD in April U.S. production has remained surprisingly resilient amid the fall in oil prices, but data from the EIA today showed that production is beginning to come off at an increasingly fast pace. Total U.S. crude production averaged 8.933 MMBOPD in April, down 220 MBOPD from 9.155 MMBOPD in March, according to the EIA. The

380,000 Stripper Wells Produced 10% of Total U.S. Production in 2015

June 29, 2016

Stripper wells outnumber nonstripper wells by more than 4-to-1 Stripper wells, or those that produced no more than 15 BOEPD over a 12-month period, continue to make up a significant portion of total U.S. production despite their small individual contributions. The EIA estimates that there were about 380,000 stripper oil wells in the U.S. operating at the end of 2015

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

A Year after OPEC Throws a Stone into the Pond, the Ripples are Still being Felt

October 28, 2015

The Thanksgiving Day Decision Last November, OPEC sparked the decline in crude oil prices that would see both international benchmark Brent crude, and U.S. benchmark WTI crude, lose more than 50% of their value. The group decided to move away from its traditional role of maintaining a reasonable crude oil price in order to protect its market share around the

Oil & Gas 360 - Haynes & Boone Borrowing Base Redeterminations Survey

U.S. Production Down 100 MBOPD in July – EIA

August 11, 2015

The EIA’s Short-Term Energy Outlook shows declining production as prices drop The U.S. Energy Information Administration (EIA) released its July Short-Term Energy Outlook (STEO) today, showing lower production in the month of July as prices continue their downward trend. The EIA reported that U.S. crude oil production declined by 100 MBOPD in July compared with June. Production is expected to

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