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Why Isn’t U.S. Shale Production Soaring?
Why Isn’t U.S. Shale Production Soaring? With oil prices threatening to break $100 this year, many observers are confused by the lack of a U.S. shale boom. The major reason that U.S. shale companies are reluctant to boost production at all costs is that they need to keep shareholders happy first and foremost. Other issues […]
Oil Executives: Higher Energy Prices Are Here To Stay
Oil Executives: Higher Energy Prices Are Here To Stay Big oil executives expect that higher energy prices are here to stay. Underinvestment in new production is seen as one of the driving factors behind higher energy prices in the mid-term. Low global inventories and limited spare production capacity are driving crude prices in the short […]
Running Out Of Sweet Spots: Shale Growth May Not Materialize
Running Out Of Sweet Spots: Shale Growth May Not Materialize U.S. shale drillers are looking to boost production in the short term Industry data suggests that well depletion is advancing Drillers remain upbeat about the short term forecast for shale oil production During the last shale oil boom when producers were racing to see who […]
Oil Rally Fueled By OPEC Production Shortfall
Oil Rally Fueled By OPEC Production Shortfall In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target OPEC’s underproduction fuels speculation about the cartel’s ability to ramp up production Morgan Stanley: global spare oil production capacity will shrink from 6.5 million bpd at the moment to just […]
Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe
Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe Natural gas exports from Russia via the Yamal-Europe pipeline will remain limited at the start of this week as true winter begins and Russia keeps more gas for domestic consumption, with maximum temperatures in Moscow dipping below zero. Bloomberg reports that after booking limited transit space […]
The Oil Omen: First Large U.S. Shale Driller To Pledge Flat Output In 2022
The Oil Omen: First Large U.S. Shale Driller To Pledge Flat Output In 2022 Diamondback said it planned to pump some 221,000 to 225,000 barrels of crude daily. For full 2021, Diamondback said production would come in at between 222,000 to 223,000 bpd Most large shale drillers are adopting the same approach in order to […]
Putin Lays Cards Down: Approve Nord Stream 2 To Get More Gas
Putin Lays Cards Down: Approve Nord Stream 2 To Get More Gas Russia could immediately increase natural gas deliveries to Europe as soon as German authorities approve the Nord Stream 2 pipeline, the Financial Times reports, citing President Vladimir Putin as saying gas can be delivered “the day after tomorrow” if approval is granted “tomorrow”. Putin […]
Peak Oil Demand Forecasts Turn Sour As Demand Keeps Growing
Peak Oil Demand Forecasts Turn Sour As Demand Keeps Growing Predicting oil—or, apparently, gas—prices is a notoriously uncertain business Over the longer term, predicting oil prices becomes even more challenging But besides crazy bets on high oil prices in the near future, there are other signs that the demise of fossil fuels has been greatly […]
Is America Doomed To Replicate Europe’s Energy Crisis?
Is America Doomed To Replicate Europe’s Energy Crisis? What is happening in Europe—including the UK, by the way, one of the most active energy transitioners—right now is a cautionary tale of magnificent proportions. Europe was in no particular rush to top up its gas reserves at the time, and neither was Asia. The quick deterioration […]
Europe Needs Nord Stream 2 More Than It Likes To Admit
Europe Needs Nord Stream 2 More Than It Likes To Admit When construction began on the second Nord Stream pipeline that was going to double the volume of natural gas ships to Europe—most of it to Germany—the European Union wasted no time in voicing its opposition to more Russian gas. Led by Ukraine, which fears […]
Decade Of Chaos Could Send Oil To $130 Per Barrel
Decade Of Chaos Could Send Oil To $130 Per Barrel From $35 per barrel to $130 per barrel—this is the range for oil prices in the next few years that we could see, according to a commodity trading group. And it will all depend on what peaks first: demand or investment in new production. “You could […]
The Ugly Truth About Renewable Power
The Ugly Truth About Renewable Power When Texas literally froze this February, some blamed the blackouts that left millions of Texans in the dark on the wind turbines. Others blamed them on the gas-fired power plants. The truth isn’t so politically simple. In truth, both wind turbines and gas plants froze because of the abnormal weather. And […]
How Will We Pay for the Energy Transition?
How Will We Pay for the Energy Transition? Earlier this month, the International Renewable Energy Agency said the world needed to invest $131 trillion by 2050 in order to limit the estimated global rise in average temperatures to 1.5 degrees Celsius. That’s 30 percent more than what is currently planned. It’s also equal to investments of $4.4 […]
Bank Of America Expects Fastest Oil Price Rise In 30 Years
Bank Of America Expects Fastest Oil Price Rise In 30 Years Oil prices are set to rise by the fastest rate since the 1970s over the next three years, Bank of America said in a new report, joining the growing group of analysts forecasting a return of oil to three-digit territory. The average price of […]
Africa Is The Undeniable Final Frontier For Oil
Africa Is The Undeniable Final Frontier For Oil The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers, idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. […]
