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U.S. presidential candidate Kamala Harris faces a problem in Washington County, Pennsylvania, where gas drilling rigs and well pads dot the rolling green farmland. View the full article
Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracing, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. View the full article
The Department of the Interior has issued final guidance for states on applying for the first $775 million in grant funding available this year to address orphaned oil and gas wells under President Biden’s Bipartisan Infrastructure Law. View the full article
Pipeline operators who fail to report cybersecurity attacks to the Department of Homeland Security could face fines of $7,000 a day or more under regulations being released Thursday in response to the ransomware attack that temporarily paralyzed the nation’s biggest fuel pipeline. View the full article
Many OPEC-watchers had been expecting the group to roll over its production quotas for at least one month, so any deviation from that could be bearish. It remains to be seen whether the call from U.S. Energy Secretary Jennifer Granholm to her Saudi counterpart Prince Abdulaziz bin Salman could tip the balance in the another direction. View the full article
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Energy Workforce and Technology Council, estimates a peak of 102,000 pandemic-related job losses. Since then, the industry has gained back more than 23,000 jobs. View the full article
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Energy Workforce and Technology Council, estimates a peak of 102,000 pandemic-related job losses. Since then, the industry has gained back more than 23,000 jobs. View the full article
The U.S. is on track to grow oil production faster than the government is forecasting, according to a BloombergNEF analysis. View the full article
The slowdown in production outside OPEC+, particularly in the U.S., is expected to narrow the global oil market surplus in 2025, though production will still outpace demand. View the full article
Oil in the U.S. rallied above $85 a barrel for the first time since 2014, another landmark in a surge in global energy prices, while an eye-watering rally in market structure deepened. View the full article
Weekly U.S. crude oil production declined for the first time in three months, signaling that soaring costs across the oil fields may be preventing drillers from expanding output. View the full article
U.S. oil production remains on track for a record 2023 even as output grows more slowly than anticipated amid surging costs and labor shortages in America’s shale fields. View the full article
U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts. View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
A rally in oil prices lifted U.S. energy stocks to the highest since the pandemic emerged more than two years ago. View the full article
Employment in the U.S. oilfield services, and equipment sector rose by an estimated 7,131 jobs to 643,092 in July, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council. View the full article
With new coronavirus infections falling to a record low last week and vaccination efforts ramping up, the latest crude demand rebound comes with a lower threat of being set back again by new outbreaks. View the full article
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. View the full article
Stockpiles in Cushing, Oklahoma, the delivery point for West Texas Intermediate oil futures fell nearly 4 million barrels in the last two weeks, bringing inventories to the lowest since March of 2020 when the pandemic forced the country into lockdown. View the full article
American refiners are processing the most crude since the economy ground to a halt in March in anticipation of a vaccine-driven boost in gasoline demand this summer. The uptick means that the refiners are competing for domestic barrels that for months were sent to more robust markets in Asia. View the full article
Notably, the top six energy-producing states account for 76% of jobs in the sector, with Texas taking a significant lead at 317,199 positions, followed by Louisiana, Oklahoma, Colorado, New Mexico, and California. View the full article
Average hourly earnings for front-line oil and gas workers rose 0.5% from March to $44.67, according to a Labor Department report released Friday. Compared with a year ago, oil pay is up 3.2%. The strength in wages matched a national trend, pushing back bets for Federal Reserve rate cuts. View the full article
From 2019 to 2020, petroleum consumption decreased in every energy-consuming sector in the United States, including a record 15% decrease in the transportation sector. View the full article
U.S. oil and gas trade groups, including the Independent Petroleum Association of America (IPAA) and the National Ocean Industries Association (NOIA) released statements after Senate Energy & Natural Resources Committee Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY) introduced the permitting reform package, the Energy Permitting Reform Act of 2024. View the full article
The majority of companies across the U.S. oil and gas industry are at risk of a successful cyber breach according to BreachBits, a cyber risk rating and monitoring company that evaluates and tests organizations from a hacker’s perspective. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
