Analysis
2020, May, 22, 13:17:00
OIL MARKET BALANCE
"When it comes to oil, there are signs that the market has tightened in recent weeks. The OPEC+ agreement, voluntary cuts outside OPEC-++, and production shut-ins are working together to start to rebalance the market. This will take time. As economies begin to open up, demand will follow, but the path to the next normal is not a straight line," Dr. Sultan Al Jaber, CEO of ADNOC Group and UAE minister of state said.
2020, May, 22, 13:10:00
OIL & GAS: THE RETURN OF EQUITY 6%
The return on equity for energy companies and U.S. manufacturing decreased to 6% and 13%, respectively, in 2019
2020, May, 22, 13:05:00
U.S. UNEMPLOYMENT 38.6 MLN
Last week’s filings lifted the number of people who filed claims for unemployment benefits to about 38.6 million since March 21.
2020, May, 22, 13:00:00
BRITAIN'S POUND DOWN
The pound is in the lower band of its recent trading range, as Britain remains one of the countries hit hardest by the pandemic.
2020, May, 22, 12:55:00
OILFIELD SERVICES DOWN 49%
Oilfield services companies have lost approximately 49% of their market capitalization since the beginning of this year.
2020, May, 22, 12:50:00
U.S. LNG CANCELED
The July cancellations, roughly double what was reported for June, represent nearly two-thirds the average volume of US LNG that was produced monthly when the coronavirus began to spread globally in January,
2020, May, 22, 12:45:00
QATAR'S LNG PRODUCTION: NO WAY
Global gas prices have plunged to record lows in the past weeks due to an oversupplied market and reduced demand due in part to the coronavirus pandemic.
2020, May, 22, 12:40:00
ARGENTINA'S OIL RESTORATION: $45
Argentina's oil-producing provinces applauded the reference price as well as an elimination of the 8% export tax when Brent is less than $45/b.
2020, May, 21, 12:55:00
OIL PRICE: NOT ABOVE $37
Brent rose 42 cents, or 1.2%, at $36.17 per barrel, WTI climbed 40 cents, or 1.2%, to $33.89.
2020, May, 21, 12:45:00
U.S. OIL INVENTORIES DOWN BY 5 MB TO 526.5 MB
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.0 million barrels from the previous week. At 526.5 million barrels, U.S. crude oil inventories are about 10% above the five year average for this time of year.
2020, May, 21, 12:35:00
U.S. RIGS: THE LOWEST LEVEL
Producers were operating the fewest oil and natural gas drilling rigs on record in the United States at 339 on May 12, the lowest level in the Baker Hughes Company’s rig count data series that dates back to 1987.
2020, May, 21, 12:30:00
U.S. POWER GRID DOWN 5.8%
U.S. power grid weighted-average 5.8% decrease in demand for 2020 versus the same period in 2019.
2020, May, 21, 12:20:00
COVID & CLEAN ENERGY
Podcast/Audio - It's sad, but also topical and unavoidable. So in this, our thirtieth 'chinwag' podcast, Dr Massey and I decided to chat through what some of the implications of the virus might be for the clean energy sector.