Upstream
![Upstream](/cache/07-20/gazprom-292.07f0be00.jpg)
2020, July, 15, 13:50:00
RUSSIA'S ARCTIC OIL FOR CHINA
Since the Arctic oil exports began, Gazprom Neft has delivered over 40 million tons of ARCO (Prirazlomnoye field) and Novy Port (Novoportovskoye field) to European countries.
![Upstream](/cache/07-20/weatherford-25.460b4fbd.jpg)
2020, July, 15, 13:40:00
WEATHERFORD FOR IRAQ
Frederico Justus, President, International Operations, Weatherford, noted, “This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.”
![Upstream](/cache/07-20/price-576.17f644fb.jpg)
2020, July, 14, 13:25:00
OIL PRICE: ABOVE $42
Brent fell 44 cents to $42.28, WTI fell 44 cents to $42.28
![Upstream](/cache/07-20/usa-223.d093f31b.jpg)
2020, July, 14, 13:10:00
U.S. PRODUCTION: OIL (-56) TBD, GAS (-712) MCFD
Crude oil production from the major US onshore regions is forecast to decrease 56,000 b/d month-over-month in July from 7,546 to 7,490 thousand barrels/day, gas production to decrease 712 million cubic feet/day from 80,266 to 79,554 million cubic feet/day .
![Upstream](/cache/07-20/price-570.6de1d8e9.jpg)
2020, July, 14, 13:05:00
OIL DEMAND IS BETTER
The key Joint Ministerial Monitoring Committee, co-chaired by Saudi Arabia and Russia, the two largest members of the coalition, will convene online July 15 and make a final recommendation.
![Upstream](/cache/07-20/price-573.5d78d1f2.jpg)
2020, July, 14, 12:50:00
IRAQ PROMISES TO COMPLY
Iraq affirmed its commitment to the OPEC+ cuts in a call with Saudi energy minister Prince Abdulaziz bin Salman, the two ministers said in a joint statement.
![Upstream](/cache/07-20/novatek-55.a47a3deb.jpg)
2020, July, 14, 12:15:00
NOVATEK'S PRODUCTION DOWN 2.5%
PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the second quarter and first half 2020.
![Upstream](/cache/07-20/rig-176.3064ba53.jpg)
2020, July, 14, 12:10:00
U.S. RIGS DOWN 5 TO 258
U.S. Rig Count is down 5 rigs from last week to 258, Canada Rig Count is up 8 rigs from last week to 26
![Upstream](/cache/07-20/price-569.592c5ee2.jpg)
2020, July, 10, 11:45:00
OIL PRICE: NOT ABOVE $42
Brent was down by 73 cents, or 1.7%, at $41.62, WTI fell 83 cents, or 2.1%, at $38.79 a barrel
![Upstream](/cache/07-20/usa-221.dcc9cb5e.jpg)
2020, July, 10, 11:40:00
U.S. OIL INVENTORIES UP BY 5.7 MB TO 539.2 MB
U.S. commercial crude oil increased by 5.7 million barrels from the previous week to 539.2 million barrels.
![Upstream](/cache/07-20/usa-222.4b808717.jpg)
2020, July, 10, 11:35:00
U.S. SHALE: NO TARGET
The intervention of the United States, the G-20 and other leading producing countries was vital in securing April’s historic production deal to rebalance and stabilize oil markets reeling from the pandemic.
![Upstream](/cache/07-20/price-566.b9e6119a.jpg)
2020, July, 9, 15:55:00
OIL PRICE: NEAR $43 AGAIN
Brent up 5 cents, or 0.12%, to $43.34, WTI dipped 14 cents, or 0.3%, to $40.76,
![Upstream](/cache/07-20/oil-32.956cb25f.jpg)
2020, July, 9, 15:50:00
GLOBAL OIL INVENTORIES WILL DOWN
Global oil inventories to generally draw through the end of 2021 as global oil demand continues to recover.
![Upstream](/cache/07-20/price-562.92df7837.jpg)
2020, July, 8, 12:00:00
OIL PRICE: NEAR $43 YET
Brent fell 11 cents, or 0.3%, to $42.97 a barrel, WTI dropped 11 cents, or 0.3%, to $40.51 a barrel,
![Upstream](/cache/07-20/price-558.5b67358e.jpg)
2020, July, 8, 11:55:00
OIL PRICES 2020-21: $41-$50
EIA expects monthly Brent spot prices will average $41/b during the second half of 2020 and rise to an average of $50/b in 2021