Oil
2020, May, 14, 16:10:00
U.S. OIL DEMAND UPDOWN
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.
2020, May, 13, 12:55:00
OIL PRICE: NOT ABOVE $30
Brent dropped 56 cents, or 1.9%, to $29.42 a barrel, WTI fell 23 cents, or 0.9%, to $25.55
2020, May, 13, 12:45:00
OIL PRICES 2020-21: $34-$48
Brent crude oil prices will average $34/b in 2020, Brent prices will rise to an average of $48/b in 2021
2020, May, 12, 14:50:00
OIL PRICE: ABOVE $30
Brent advanced 85 cents, or 2.9%, to $30.48, WTI were up $1.29, or 5.3%, at $25.43.
2020, May, 12, 14:45:00
SAUDI ARABIA, KUWAIT OIL PRODUCTION DOWN
OPEC+ producers agreed to cut their overall crude oil production by 9.7 mb/d over the 1 May 2020 - 30 June 2020 period,
2020, May, 12, 14:40:00
U.S. TIGHT OIL PRODUCTION WILL DOWN TO 6 MBD
If nothing else changes (unlikely), tight oil production will decline to a level of about 6 million bo/d
2020, May, 12, 14:05:00
CANADA'S OIL INDUSRTY DOWN
The high-cost Canadian oil industry is being hammered by the dual effects of Covid-19 and the fallout from unconstrained supply.
2020, May, 12, 14:00:00
SAUDI ARAMCO NET INCOME $16.7 BLN
In 2019, Saudi Aramco produced 13.2 mmboed, including 9.9 mmbpd of crude oil (including blended condensate and excluding the Kingdom of Bahrain’s share of volumes produced from Abu Sa’fah field).
2020, May, 12, 13:55:00
U.S. RIGS DOWN 34 TO 374
U.S. Rig Count is down 34 rigs from last week to 374, Canada Rig Count is down 1 rig from last week to 26
2020, May, 8, 12:00:00
OIL PRICE: NEAR $30
Brent was up by 87 cents, or 3%, at $30.33 a barrel, WTI gained $1.12, or 4.8%, to $24.67 a barrel
2020, May, 7, 11:40:00
OIL PRICE: ABOVE $29
Brent was down by 24 cents, or 0.8%, to $29.48 a barrel, WTI was down by 24 cents, or 0.8%, to $29.48 a barrel
2020, May, 7, 11:20:00
U.S. OIL INVENTORIES UP BY 4.6 MB TO 532.2 MB
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.6 million barrels from the previous week. At 532.2 million barrels, U.S. crude oil inventories are about 12% above the five year average for this time of year.
2020, May, 6, 12:25:00
OIL PRICE: ABOVE $31 ANEW
Brent was up 45 cents, or 1.5%, at $31.42 a barrel, WTI was up 45 cents, or 1.5%, at $31.42 a barrel.
2020, May, 6, 12:20:00
2020: ENERGY DEMAND WILL DOWN 6%
Energy demand will fall 6% in 2020 – seven times the decline after the 2008 global financial crisis
2020, May, 6, 12:15:00
OIL GAS INVESTMENT DOWN $85 BLN
The bearish near-term outlook for the industry has forced many companies to reassess their forward expenditure. To date, more than US$85bn has been cut from over 100 companies across the industry.