Archive for the ‘Oil Prices’ Category
The Texas Petro Index (TPI) declined in November and December 2018 on the heels of 23 straight months of growth, in response to dramatic declines in crude oil prices in the last 2 months of the year.
EIA: US to become net energy exporter in 2020
February 4th, 2019 by Latest News
The US will position itself as a net energy exporter in 2020 and will remain so throughout a projection period to 2050 resulting from large increases in production of crude oil, natural gas, and natural gas plant liquids (NGPL) coupled with slow growth…
In fourth-quarter 2018 upstream, merger and acquisition activity fell to its lowest level since first-quarter 2015 as volatile oil prices and bearish equity markets impeded deal flow. Activity also may be sluggish in 2019, according to Wood Mackenzie.
Despite the signing of a new Vienna Agreement, the journey to a balanced global oil market will take time and is more likely to be a marathon than a sprint, according to the International Energy Agency’s first Oil Market Report in 2019.
Rystad Energy: Haynesville shale set to surpass 2011 gas output record
January 21st, 2019 by Latest News
Natural gas production in Louisiana will soon reach record heights thanks to an outstanding resurgence of the Haynesville shale play.
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications, and operations (MMO) sector are set to benefit from this …
US Tenth District energy activity declined amid negative expectations
January 21st, 2019 by Latest News
The Federal Reserve Bank of Kansas City’s fourth-quarter Energy Survey revealed that Tenth District energy activity declined moderately, and expectations for future activity also turned negative.
Global liquid fuels production will average 101.8 million b/d in 2019 and 103.5 million b/d in 2020, and consumption will average 101.5 million b/d in 2019 and 103.1 million b/d in 2020, which will contribute to modest inventory builds in both years, a…
Canadian oil companies reconsidered 2019 production guidance numbers in early January and reevaluated production strategies after Alberta’s government outlined a temporary production cut of heavy crude oil and crude bitumen.
In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration has revised its 2019 price forecasts for Brent and West Texas Intermediate to $61/bbl and $54/bbl, respectively, which are both $11/bbl lower than forecast in the …