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Tag Archives: oil production
Bill Blain: “Oil Could Change Everything”
Bill Blain: “Oil Could Change Everything” Blain’s Morning Porridge: A Short Distraction In The Oil Market Did I detect a distinct change in the market wind yesterday? There is a new freshening blow out the East. It feels like the world is changing: a slide in tech stocks and a wobble in sentiment, stronger oil […]
U.S. Shale’s Most Productive Play May Peak By 2021
U.S. Shale’s Most Productive Play May Peak By 2021 The world’s top shale play, the Permian, has shown remarkable resilience amid the lower-for-longer oil prices. Permian production has grown and should continue its rise into the foreseeable future. Technological advances spurred the rapid rise of the Permian, but as drillers are set to continuously develop […]
Blowout Week 195
Blowout Week 195 It’s official – climate models are overheating and global warming may not be so bad after all. So say two authors of the recent Nature Geoscience study featured in this week’s Blowout. Nature, however, puts a different spin on this “good news” in the next article. We follow up with our customary […]
Could Kurdish Independence Spark An Oil War?
Could Kurdish Independence Spark An Oil War? As the date of the Kurdish independence referendum approaches, oil industry moguls should be concerned about an oil production war between Iran and headless Iraq. The Kurds are expected to vote on their political status in late September. A vote in the affirmative would mean that Iraq would […]
IEA: Price Spike Coming In 2020
IEA: Price Spike Coming In 2020 The oil market has been awash in crude for more than three years, and OPEC has struggled to accelerate the rebalancing effort, but the world could be heading for a supply crunch in a few years due to the sharp fall in industry spending. The halving of oil prices […]
WTI/RBOB Sink After Big Crude Build, Production Jump Offsets Greatest Gasoline Inventory Draw In History
WTI/RBOB Sink After Big Crude Build, Production Jump Offsets Greatest Gasoline Inventory Draw In History WTI and RBOB prices are higher this morning following API’s reported the biggest gasoline draw in history (compared to EIA data). Of course, disruptions (Florida demand and Texas supply) remain dominant but DOE reports a massive 8.4mm draw in Gasoline […]
OPEC Reports First Oil Production Drop In 4 Months As Deal Compliance Slides
OPEC Reports First Oil Production Drop In 4 Months As Deal Compliance Slides Confirming Monday leaks that OPEC production had dipped last month, the just released OPEC report for the month of September confirmed that in September, OPEC produced 32.755mmb/d (according to secondary source data), a drop of 79,100 bpd, and the first monthly decline […]
What Is Behind Surging Gas Prices?
What Is Behind Surging Gas Prices? As gas stations raise prices in the wake of Hurricane Harvey, there have been numerous accusations of price gouging. Especially on social media, some are quick to conclude price gouging if they see gasoline prices go up by 10 or 20 cents per gallon over the course of a […]
Rig Count Slumps To 3-Month Lows As US Crude Production Collapses
Rig Count Slumps To 3-Month Lows As US Crude Production Collapses US crude production collapsed this week with most of Texas offline and we would expect rig counts to have continued to stabilize (if not fall) following the lagged track of WTI, and they did – oil rigs dropped 3 to 756, the lowest since […]
The North Sea Oil Recovery Is Dead In The Water
The North Sea Oil Recovery Is Dead In The Water The oil majors issued a vote of confidence for the North Sea in recent days, citing precipitous declines in the cost of production, which they say will revive the region’s oil and gas production. At an oil industry conference in the North Sea’s oil capital, […]
WTI Jumps After Harvey Prompts US Crude Production Collapse, Biggest Inventory Build In 6 Months
WTI Jumps After Harvey Prompts US Crude Production Collapse, Biggest Inventory Build In 6 Months Last night’s first glimpse of Harvey’s impact on energy confirmed a sizable crude build but only modest gasoline draw. WTI/RBOB prices slid into the DOE print and extended losses after a bigger than expected crude build (+4.58mm vs +4mm exp). […]
How EIA Guestimates Keep Oil Prices Subdued
How EIA Guestimates Keep Oil Prices Subdued The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks. The monthly EIA oil production figures tend to be more accurate than the weekly estimates, although they are published […]
Norway’s Big Fish Story
Norway’s Big Fish Story Decision Season With Parliamentary elections looming, more Norwegians than usual are asking themselves the tough questions. It is now apparent that the slump in oil is not a temporary one. What will the country do now? Time for the lottery winner, after receiving the last annuity, to get a job before […]
Norway Oil and Gas: Reserves, Production and Future Projection
Norway Oil and Gas: Reserves, Production and Future Projection Norwegian oil production peaked in 2000 to 2001; gas production may be peaking about now. Oil hit a low in 2013 and then recovered towards a new local peak, probably concurrent with the gas. drilling and development The most surprising thing I find with their industry […]
