To change the current paradigm, the industry will need to dig deep and tap its proud history of bold structural moves, innovation, and safe and profitable operations in the toughest conditions. The winners will be those that use this crisis to boldly reposition their portfolios and transform their operating models. Companies that don’t will restructure or inevitably atrophy.

Crude oil production from the major US onshore regions is forecast to decrease 197,000 b/d month-over-month in May from 8,019 to 7,822 thousand barrels/day, gas production to decrease 779 million cubic feet/day from 82,249 to 81,470 million cubic feet/day .

Brent was up $1.06, or 3.3%, at $33.56 a barrel, WTI was up $1.29, or 4.4%, at $30.72 a barrel

U.S. Rig Count is down 35 rigs from last week to 339, Canada Rig Count is down 3 rigs from last week to 23

Brent was up $1.21 cents, or 3.9% at $32.34 a barrel, WTI was up 92 cents, or 3.3%, at $28.48 a barrel after reaching $28.54

Reduced economic activity resulting from shelter-in-place restrictions due to COVID-19 drove significant near-term disruptions to energy markets in the month of April with U.S. petroleum demand falling nearly 27 percent to 14.2 million barrels per day (mb/d),

Brent were up $1.17, or 4%, at $30.36 per barrel, WTI were $1.1, or 4.4%, higher at $26.39 per barrel.

По итогам переговоров стороны отметили в совместном заявлении, что Россия и Саудовская Аравия твердо привержены достижению рыночной стабильности и ускорению восстановления баланса на нефтяном рынке.

For 2019, world oil demand growth is kept broadly unchanged compared to last month’s assessment, estimated to have grown by 0.83 mb/d, y-o-y, to average 98.72 mb/d. In 2020, world oil demand growth is adjusted lower by 2.23 mb/d and is now forecast to drop by 9.07 mb/d.

EIA expects U.S. total liquid fuels consumption will rise from an average of 15.9 million b/d in the second quarter of 2020 to 18.7 million b/d in the third quarter of 2020 and then to average 19.8 million b/d in 2021, up 8% from 2020, but lower than 2019 levels.