USA


All posts for USA

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 1 month agoLink > WTIWest Texas IntermediateBrent +8

Qatar and the LNG Conundrum

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 1 month agoLink > QATARAustraliaLNG +6

What, And Where, To Shut?

In the extraordinary OPEC+ and G20 meetings that surrounded the coordinated deal, it was stated that the free market producers – mainly the US, Canada, Brazil and Norway – would make up a further cut of 5 mmb/d through natural ‘market adjustments'. This applies to OPEC states as well, such as Kuw ...

Hui Shan


Posted 1 month agoLink > OPECsaudiRussia +3

Deep Casing Tools secures UK patent for extended reach drilling innovation

A UK patent has been granted for new technology which can almost half the cost for extended reach drilling (ERD) well liner installations. Patents are also pending   in Europe, the USA, Canada, UAE and Saudi Arabia.   Deep Casing Tool's (DCT) MechLOK™ Drill Pipe Swivel (DPS) is the industry's ...

Saffron Cummings


Posted 2 months agoPress > well installationsUKOil and Gas +16

When The Pool Shrinks, The Fish Are Threatened

An entire phalanx of upstream service companies help build, operate and maintain the critical infrastructure necessary to extract oil in its natural form from deep below the ground and send it on its merry way to be turned into fuel for consumption. With all companies slashing upstream capex and ...

Hui Shan


Posted 2 months agoLink > OPECsaudiRussia +3

The WTI Oil Price Crash Explained

And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors  in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...

Hui Shan


Posted 2 months agoLink > WTIWest Texas IntermediateBrent +7

The Great “Too Little, Too Late” Deal

It immediately props up the current traded prices of crude oil, which were languishing in the US$25/b level before chatter of the deal emerged but it also is prescient enough to acknowledge that the negative impact of Covid-19 will linger for very long, hence the need for a long tail to the deal. ...

Hui Shan


Posted 2 months agoLink > OPECsaudiRussia +7

OPEC FACES OFF WITH RUSSIA

Saudi Arabia and Russia are both by far some of the lowest-cost oil producers in the world, flipping the narrative to a race for market share instead of an attempt to preserve prices. Caught in the middle will be OPEC members counting on steady oil prices to keep their economies afloat (Iran, Ira ...

Hui Shan


Posted 3 months agoLink > OPECsaudiRussia +3

The Shale Showdown in 2020 – What’s Happening?

Slow growth in U.S. energy consumption, as a result of continued increases in energy efficiency, and technologically enabled growth in domestic oil and natural gas production lead the United States to remain a net energy exporter through 2050. The AEO2020 Reference case projects domestic energy d ...

Hui Shan


Posted 5 months agoLink > ShalePermianUSA +3

Emerging Middle East Proxy War And Oil Prices

These narrow trading ranges occurred as a result of offsetting upward and downward price pressures, despite the largest single-day price increase since 2008, which followed the September attacks on Saudi Arabia's crude oil production and processing infrastructure. In 2019, several factors, includ ...

Hui Shan


Posted 6 months agoLink > IranIraqAmerica +6

The Oil and Gas Industry in 2020 – Brief Summary

Attempts by the wider OPEC+ club to minimise the growing glut have only mitigated the situation; the power of these producers to influence the market has diminished as US production has risen. As long as OPEC+ tries to play the good cop in the market – yielding volumes to coerce trends – crude pr ...

Hui Shan


Posted 6 months agoLink > OPECsaudiRussia +4

Compliance Is Critical

On one hand, you had some key members – including Iraq, surprisingly – stating the need for the broader OPEC+ club to make further cuts to its supply deal. The headlines spinning out of the December 5 meeting was that the OPEC+ alliance agreed to slash a further 500,000 b/d, with Saudi Arabia ple ...

Hui Shan


Posted 6 months agoLink > OPECsaudiRussia +3

Geopolitical Tensions Overshadow a Year of Big Discoveries

Hammered by US sanctions that have severely curbed its oil exports – and scaring off international investors – Iran has continued to go alone in exploration work within its borders. Just last week, Iran announced that it had struck a new field in its southwest that contains up to 53 billion barre ...

Hui Shan


Posted 7 months agoLink > IranWaroil price +6

Q319 Financials: Weaker Oil Prices, Weakened Profits

Changing nature of non-OPEC supply types may be affecting the crude oil futures marketChanges in the oil investment and production cycle may be affecting trading dynamics for West Texas Intermediate (WTI) and Brent crude oil futures contracts. Similar research from the U.S. Commodity Futures Trad ...

Hui Shan


Posted 8 months agoLink > oil priceShaleUSA +5

Ecuador Exits OPEC

Citing a need to boost oil revenues by being ‘honest about its ability to endure further cuts', Ecuador is prioritising crude production and welcoming new oil investment (free from production constraints) as President Lenin Moreno pursues more market-friendly economic policies. Indonesia did rejo ...

Hui Shan


Posted 8 months agoLink > OPECsaudiRussia +4