Upstream
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2020, June, 17, 12:40:00
GLOBAL OIL DEMAND UPDOWN
Oil demand in 2020 is expected to fall by 8.1 mb/d, the largest in history, before recovering by 5.7 mb/d in 2021.
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2020, June, 16, 14:25:00
OIL PRICE: NOT ABOVE $41 YET
Brent rose 77 cents, or 1.94%, at $40.49 a barrel, WTI gained 61 cents, or 1.64%, to $37.73 a barrel.
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2020, June, 16, 14:05:00
GLOBAL UPSRTEAM INVESTMENTS DOWN
Spending is also expected to be largely flat in 2021, landing only marginally higher than 2020 at $386 billion. Before the Covid-19 pandemic, expected total upstream investment would maintain last year’s levels, both in 2020 and 2021.
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2020, June, 16, 13:55:00
U.S. PRODUCTION: OIL (-93) TBD, GAS (-693) MCFD
Crude oil production from the major US onshore regions is forecast to decrease 93,000 b/d month-over-month in June from 7,725 to 7,632 thousand barrels/day, gas production to decrease 693 million cubic feet/day from 81,254 to 80,561 million cubic feet/day .
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2020, June, 15, 14:00:00
OIL PRICE: ABOVE $38 YET
Brent was down 15 cents, or 0.4%, at $38.58 a barrel, WTI was down 49 cents, or 1.3%, at $35.77.
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2020, June, 15, 13:45:00
CHINA'S OIL THROUGHPUT UP
Crude oil throughput at China's domestic refineries further recovered to 13.69 million b/d
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2020, June, 15, 13:35:00
IRAQ WILL EXPORT 2.8 MBD
Iraq pumped 4.213 million b/d of crude oil in May, above its OPEC+ quota of 3.592 million b/d and exported 3.63 million b/d, oil marketer SOMO said on June 7.
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2020, June, 15, 13:00:00
U.S. RIGS DOWN 5 TO 279
U.S. Rig Count is down 5 rigs from last week to 279, Canada Rig Count is unchanged from last week at 21
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2020, June, 11, 10:25:00
OIL PRICE: ABOVE $40 AGAIN
Brent fell 3.4%, or $1.42, to $40.31 a barrel, WTI dropped 4%, or $1.60, to $38 a barrel,
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2020, June, 11, 10:20:00
U.S. OIL INVENTORIES UP BY 5.7 MB TO 538.1 MB
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.7 million barrels from the previous week. At 538.1 million barrels, U.S. crude oil inventories are about 14% above the five year average for this time of year.
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2020, June, 11, 10:15:00
OIL MARKET DEFICIT 4 MBD
The imbalance is forecast to reach 4.6 million bpd in July, 4.2 million bpd in August
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2020, June, 11, 10:05:00
NIGERIA AGREES TO OPEC+
"Our oversupply was a little less than 100,000 b/d against the agreed numbers, and so that is not really that significant," Kyari said.
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2020, June, 10, 13:00:00
OIL PRICE: ABOVE $40 YET
Brent fell 70 cents, or 1.7%, to $40.48 a barrel, WTI dropped 98 cents, or 2.5%, to $37.96.
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2020, June, 10, 12:55:00
OIL PRICES 2020-21: $37-$48
monthly Brent prices will average $37/b during the second half of 2020 and rise to an average of $48/b in 2021.
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2020, June, 10, 12:25:00
HYDROGEN FOR S.KOREA
S.Korea aims to sharply increase production of hydrogen-powered vehicles and electricity generation by hydrogen, in an effort to use hydrogen as a major energy source for transportation and power generation.