Post Tagged with: "US Shale"

Source: Reuters

Column: Oil price spikes and permanent consumption losses

Reuters


LONDON – Promises by U.S. shale producers to pursue a more restrictive approach to capital investment and production seem to have emboldened Saudi Arabia and its allies in OPEC+ to test the room for higher oil prices.

If shale …

March 9, 2021 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

U.S. shale output won’t return to pre-pandemic levels: Occidental CEO

Reuters


NEW YORK  – The oil industry is recovering from a collapse in demand triggered by the coronavirus pandemic, but U.S. shale production will not recover to levels seen before the pandemic, Occidental Petroleum Chief Executive Vicki Hollub said on …

Source: Reuters

U.S. shale ponders the unexpected: what to do with coming cash windfall?

Reuters


HOUSTON – A sustained rise in global oil prices has U.S. shale producers pondering something few expected to be considering after last year’s tumble: how to allocate rising cash flows among new production, dividends and stock buybacks.

U.S. shale …

January 29, 2021 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News
U.S. crude output to decline less than previously forecast in 2021: EIA

U.S. crude output to decline less than previously forecast in 2021: EIA

Reuters


NEW YORK – U.S. crude oil production is expected to fall by 190,000 barrels per day (bpd) in 2021 to 11.1 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a smaller decline than its previous forecast …

Source: Reuters

OPEC crude output cuts should help U.S. shale profits in 2021

Reuters


HOUSTON – A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may …

Source: Reuters

Oil prices up 4% on supply cuts, improving demand

Reuters


LONDON – Oil prices jumped around 4% on Tuesday after the International Energy Agency (IEA) increased its oil demand forecast for 2020 and as record supply cuts provided support.

Brent crude LCOc1 prices were up $1.62, or 4.08%, to …

Source: Reuters

Column: Saudi crude oil price hike throws Asian lifeline to U.S. shale – Russell

Reuters


LAUNCESTON, Australia – Saudi Arabia’s decision to jack up the price of its July exports to Asia may have opened the door for U.S. crude oil producers to boost sales to the region that consumes more oil than anywhere …

Source: Reuters

OPEC+ keen to keep U.S. shale in check as oil prices rally

Reuters


LONDON – When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in U.S. output.

Now that …

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: CNBC

Saudi Arabia’s oil exports to the US skyrocketed in the last month

CNBC


Saudi Arabian oil exports to the U.S. more than doubled from February to March as oil prices crashed and American shale producers reeled over demand destruction from the coronavirus pandemic, data from analytics firm TankerTrackers.com shows.

Saudi crude shipments

April 17, 2020 - 1:30 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News
Source: CNBC

Oil prices may now be at a bottom after historic OPEC deal, US energy secretary says

CNBC


The historic deal reached by OPEC and its oil-producing allies to cut production has worked to “stem the tide, stem the damage that was being done to the market,” since the onset of the coronavirus pandemic and the Saudi

Source: CNBC

Brent crude could still drop to $10 a barrel and stay there in Q2: IHS Markit

CNBC


Oil prices on Thursday rallied more than 20% following reports of a possible deal to cut production by an enormous 10 million barrels per day, but one analyst is still predicting that Brent crude will sink to $10 a …

Source: pxd.com

Top shale CEO says OPEC shouldn’t worry about U.S. oil growth

Source: Reuters


HOUSTON (Reuters) – Pioneer Natural Resources Chief Executive Scott Sheffield said on Tuesday that he expects the Permian Basin, the top U.S. shale field, to “slow down significantly over the next several years.”

“I don’t think OPEC has …