U.S. OIL WILL DOWN 80,000 B/D
Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration's latest Drilling Productivity Report.
The Report focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US oil production increases and all US natural gas production increases during 2011-13.
The Eagle Ford has represented a bulk of the overall declines since output from the plays began trending downward during the spring. EIA projects October production from the South Texas play to decline 62,000 b/d to 1.42 million b/d. The Bakken is expected to fall 21,000 b/d to 1.18 million b/d, while the Niobrara is expected to fall 19,000 b/d to 380,000 b/d.
|March, 23, 08:40:00|
|March, 23, 08:35:00|
|March, 23, 08:30:00|
|March, 23, 08:25:00|
|March, 23, 08:20:00|
|March, 23, 08:15:00|
WNN - Asia needs nuclear energy to meet its economic, energy and environmental goals, but such plans are still in the development phase in the South East region of the continent, Agneta Rising, director general of World Nuclear Association, said.
NPD - Preliminary production figures for February 2018 show an average daily production of 1 944 000 barrels of oil, NGL and condensate, which is a decrease of 83 000 barrels per day compared to January.
AOG - China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with Abu Dhabi National Oil Company (ADNOC).
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.69 a barrel at 0744 GMT, up 15 cents, or 0.2 percent, from their previous close. Brent crude futures LCOc1 were at $67.56 per barrel, up 14 cents, or 0.2 percent.