OilVoice
Link

The State of the Industry: Q2 2019

Posted by Hui Shan

15-Aug-2019

https://nrgedge.net/article/1565778726-the-state-o...

  • In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outpaces consumption growth (Figure 1).
  • In the August STEO, EIA forecasts 2020 inventory builds of 280,000 barrels per day (b/d), but that outcome is highly dependent on crude oil production.
  • The compliance with production targets from the OPEC+ agreement will not only be a key determinant of whether global crude oil inventories remain near the five-year (2014–18) average during the forecast period but also a significant driver of crude oil prices.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

https://nrgedge.net/article/1565778726-the-state-o...

ShellExxonMobilBPTotalAramcoChevronFinancialProfitsrevenue

More items from huishan


The Impact of COVID 19 In The Downstream Oil & Gas Sector

This overcapacity is intentional; since most refineries do not run at 100% utilisation all the time and many will shut down for scheduled maintenance periodically, global refining utilisation rates stand at about 85%. Just as shutting down an oil rig can take weeks to complete, shutting down an e ...

Hui Shan

Posted 4 days agoLink > Oil Refiningdownstreamcovid-19 +5

North American crude oil prices are closely, but not perfectly, connected

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan

Posted 8 days agoLink > pricesLiquid FuelsCrude oil +7

Financial Review: 2019

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan

Posted 10 days agoLink > Financemarketsfinancial review +5

From Certain Doom To Cautious Optimism

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan

Posted 10 days agoLink > WTIWest Texas IntermediateBrent +8

EIA expects record liquid fuels inventory builds in early 2020, followed by draws

In the same year, the US leapfrogged Malaysia as the third largest LNG exporter in the world, and by 2025, its LNG production capacity could reach almost 15 bcf/d – eclipsing both Qatar and Australia. With its recent moves to tap into the vast natural gas resources in its offshore North Field and ...

Hui Shan

Posted 16 days agoLink > ProductionsupplyConsumption +8
All posts from huishan