WTI Archives - Page 35 of 40

North Dakota Produced 1.2 MMBOPD in Feb.; N.D. Gas Production Hit All Time High at 2.1 Bcf per Day

April 16, 2018

North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February. In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day. February was another good month of production for the state, reaching an all-time high for natural gas production. The commission reported natural gas

Canada’s Energy Sector Faces Rough Waters

April 13, 2018

Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer With U.S. shale on a tear, imports are dropping Total U.S. crude production reached 10 MMBOPD in November 2017 and the Canadian Industrial Outlook report from The Conference Board of Canada estimates that U.S. production will pass 11 MMBOPD in

Texas Shale Challenges North Sea as World Oil Benchmark

February 2, 2018

WTI contracts far outpacing Brent contracts From Reuters NEW YORK (Reuters) – Surging shale oil production in Texas and North Dakota is being felt on trading desks in Chicago, Houston and New York, where a brisk business in West Texas Intermediate crude futures is far outpacing contracts for London-based Brent crude. As the United States approaches a record 10.04 million

Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

Oil Company Return Metrics Nearing Levels Not Seen Since $100 Oil

November 29, 2017

Return on invested capital breaks from historic patterns as companies reap the benefits of efficiencies Oil and gas companies are beginning to take a more measured approach to growing even as oil prices hover above $55 per barrel, a move that many investors have been asking to see for months. A report published by EnerCom Analytics this month found that

Crude Oil on the Rise

November 17, 2017

Saudi Arabias move to dispel doubts over Russia’s readiness to extend output curbs sent WTI and Brent crude oil benchmark prices up 2.32% and 2.10%, respectively. Recently Saudi Arabia’s Energy Minister Khalid AL-Falih said that OPEC will announce the extension of production when the group meets on November 30. OPEC and non-OPEC countries including Russia made a deal in to

Oil Prices bring new thinking to Energy Companies

Oil Falls on Rising U.S. Output, Global Demand Concern

November 15, 2017

From Reuters NEW YORK (Reuters) – Oil prices fell 2 percent on Tuesday, headed for a third straight daily decline, on forecasts for rising U.S. crude output and a gloomier outlook for global demand growth in a report from the International Energy Agency (IEA). Analysts also noted that oil prices were being pressured by a global commodities selloff, led by

Brent Returns to $60 with Highest Close Since 2015 – Rigs Fall Again

October 27, 2017

Four rigs go offline Oil and gas industry signals were mixed this week, as the rig count and natural gas prices dropped, but oil prices rose. U.S. drilling activity declined this week, with four land-based rigs shutting down. There are now 888 land-based rigs in the U.S., the lowest number in five months. Inland waters and offshore rigs counts were

Surprise for Oil-watchers: an Unexpected Draw, but will it Repeat?

July 6, 2017

Crude oil inventories fall 6.3 million barrels; WTI climbs from $45 to $46.50 and back Crude oil inventories decreased by approximately 6.3 million barrels in the week ended June 30. The draw beat consensus, which expected stockpiles to fall by about 1.8 million barrels for the week. WTI crude oil prices shot past $46 per barrel following the news before

WTI Stays near $49 if OPEC Cuts Continue: EnerCom

May 18, 2017

OPEC’s meeting to decide the future of production cuts is quickly approaching, and many expect that the group will extend their deal through at least the end of this year. The production cuts, when they were first initiated, helped to bring both WTI and Brent crude oils back above $50 per barrel, but prices have struggled to maintain that position

Finding Costs Drop to 10-Year Low - Oil & Gas 360

Global Crude Oil Consumption will Increase Faster than Production: EIA

January 25, 2017

Global crude inventories will decrease build rate through 2018, EIA predicts In its recently released Short Term Energy Outlook, the EIA outlined its predictions for global production and consumption through 2018. An increase in production and seasonal drop in consumption is expected to push an increase in global crude inventories of 2.0 million BPD in the fourth quarter of 2016,

Nigeria Set to Benefit Most from OPEC Cut, but WTI is More Attractive to Global Buyers

December 16, 2016

From Reuters * Unsold cargoes linger due to glut of light oil * U.S. oil more competitive after Brent’s OPEC boost * Planned cuts are mostly to sour crude LONDON, Dec 16 Nigeria, one of two OPEC countries completely shielded from any cuts to its oil production, was in line for a windfall from the group’s agreement late last month

oil-barrels-and-markets-482px Oil Prices Drop - Oil & Gas 360

Markets Approach Record Highs, but Will it Stick?

November 21, 2016

Oil prices pushing markets higher Oil prices rose to a three-week high Monday as investors continue to bet that OPEC will come to an agreement on production. While international crude oil benchmark Brent and U.S. benchmark WTI are still about 39% and 38% below their value on November 21, 2014 – a week prior to OPEC’s initial decision to defend

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