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The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus. View the full article
A U.S. energy envoy said he is confident Persian Gulf producers will increase oil output after President Joe Biden’s visit to Saudi Arabia, where he met with regional leaders. View the full article
A new kind of power plant that doesn’t add greenhouse gases to the atmosphere is being built in the U.S., potentially providing a way for utilities to keep burning natural gas without contributing to global warming. View the full article
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade. View the full article
A round-up of data on shale drillers shows they’re sticking to their pledge to cut costs, return money to shareholders and reduce debt. If they stay the course, it would validate the OPEC+ alliance’s high-stakes wager that it can curb output and drive crude prices higher without unleashing an onslaught of supply from U.S. rivals. View the full article
The backlog of drilled but uncompleted shale wells called DUCs is rapidly shrinking as oil prices rise, signaling that producers are ready to put drilling crews back to work as the industry rebounds from its pandemic-driven downturn. View the full article
U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. View the full article
Surging oil and natural gas prices are spurring production increases from West Texas to the Upper Great Plains that probably will lift output to levels not seen since the early days of the pandemic, according to Rystad Energy AS. View the full article
“I’m still a strong believer that demand is going to come back strong, both on airlines and also driving around the world once we get herd immunity,” Pioneer Natural Resources CEO Scott Sheffield said on a conference call Feb. 24. View the full article
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Baker Hughes. View the full article
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, according to BloombergNEF, leaving OPEC in a powerful position as the world cries out for more barrels. View the full article
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, leaving OPEC in a powerful position as the world cries out for more barrels. View the full article
U.S. shale drillers are increasingly worried that swelling Russian natural gas exports will slash their European market share. View the full article
A bipartisan pair of senators is pressing the Biden administration to use secondary sanctions to enforce a cap on the price of Russian oil. View the full article
The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production. View the full article
Talks on reviving the Iran nuclear deal that have resumed in Vienna show some progress but it’s “far too slow,” a U.S. official said Tuesday. View the full article
The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves. View the full article
The U.S. Energy Information Administration said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year, with total output nearing 11.5 MMbpd in 2022. 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
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
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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.
