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Peak US Oil Production Looms as the Domestic Shale Boom Ends
Peak US Oil Production Looms as the Domestic Shale Boom Ends After a decade of losing hundreds of billions of dollars, the shale oil industry is finally making money — and running out of oil. A lone pumpjack in Loving County, Texas, in the Permian Basin. Credit: Justin Hamel It appears that the U.S. fracking […]
U.S. crude output to decline more than previously forecast in 2020 -EIA
U.S. crude output to decline more than previously forecast in 2020 -EIA NEW YORK (Reuters) -U.S. crude oil production is expected to fall by 910,000 barrels per day (bpd) in 2020 to 11.34 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a steeper decline than its previous forecast for a drop of […]
U.S. Oil Production Has Already Passed Its Peak, Occidental Says
U.S. Oil Production Has Already Passed Its Peak, Occidental Says America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp. “It’s just going to be too difficult to replace the 2 million barrels a day […]
IT’S ALL DOWNHILL FROM HERE: U.S. Oil Production Peak Already In The Rear-view Mirror
IT’S ALL DOWNHILL FROM HERE: U.S. Oil Production Peak Already In The Rear-view Mirror It’s a shame that the drive for U.S Energy Independence only lasted for about a year. Even worse, U.S. Shale Oil Industry responsible for the country’s energy independence is now in serious trouble as the companies have cut drilling by 75% […]
Oil Market Heading For Months Of Deficit
Oil Market Heading For Months Of Deficit The oil market is set for a deficit from August onwards, even after OPEC+ eases the current cuts that are up for a tentative extension through July, Rystad Energy analysts said on Friday. Assuming that global demand recovery continues in the coming months, the oil market will still […]
US May Pay Shale Drillers Billions To Leave Oil In The Ground
US May Pay Shale Drillers Billions To Leave Oil In The Ground If one listened to the US president, or any other member of OPEC+ in the past few days, this weekend’s history production cut deal (which we said was not nearly enough to offset the plunge in global demand), would have been sufficient to push the […]
The Warning Signs Are Flashing for U.S. Shale
The Warning Signs Are Flashing for U.S. Shale U.S. oil production growth has slammed on the breaks, as low prices and the loss of access to capital markets has forced a slowdown in drilling. Third quarter earnings reports will soon start to trickle in. Three months ago, the shale industry saw improvement in some of the headline […]
Is US Shale Cannibalizing Itself?
Is US Shale Cannibalizing Itself? U.S. oil production continues to grow, but the shale industry is in the midst of a deceleration as low oil prices and a financial squeeze slow the pace of drilling. The U.S. added 246,000 bpd of fresh supply in April, the latest month for which data solid is available. That put to […]
Sharp Rise In Rig Count Pressures Oil Prices
Sharp Rise In Rig Count Pressures Oil Prices The the number of active oil and gas rigs rose by 19 after two weeks of big losses in the United States this week according to Baker Hughes, in a sign that US production is still set for increases. The total number of active oil and gas […]
