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- Reflecting new data we have revised down our demand estimates for the third quarter of 2020 (-0.2 mb/d), with weakness seen particularly in North America (including Mexico) and India.
www.iea.org/reports/oil-market-report-october-2020
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The Railroad Commission of Texas issueda total of 437 original drilling permits in September compared to 796 in September of last year. The breakdown of well types consists of 112 for oil, 41 for gas, 252 for oil or gas, 11 for injection and 21 for other permits. The total well completions processed for 2020 to date for new drills, reentries, and r...
Despite the relatively swift response from OPEC and its allies to revitalize crude markets by significant reductions in oil production, stagnant oil prices and demand, which have yet to recover, have forced US producers to file for bankruptcy protection into the second half of 2020. The remainder of 2020 will be challenging as companies attempt to ...
In recent weeks, the oil and gas industry has experienced a burst of merger and acquisition activity, including situations of new operators consolidating legacy field holdings to the start-up of new oilfield services providers. The long-anticipated E&P consolidation boom appeared to take flight during the third quarter. On July 20, Chevron announce...
We forecast that oil demand will fall by 8.8 mb/d y-o-y in 2020, a modest 50 kb/d downward revision from our previous Report. Our 2021 demand forecast was revised down by 170 kb/d.
Feb 26, 2021 · Global oil supply-and-demand outlook to 2040. COVID-19 sent shocks through global oil markets, with oil demand and supply still struggling to return to pre-pandemic levels. Our outlook looks back at 2020 and presents our most-likely scenarios for oil demand, supply, and prices through 2040.
Feb 9, 2020 · Long-term oil demand is exposed to large variations across all scenarios. After more than 30 years of stable growth of more than. 1 percent per year, oil-demand growth slows in the late 2020s and peaks in 2029. Various energy-transition drivers could cause peak to occur six to ten years earlier. 4.
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Mar 9, 2020 · Global oil demand will grow by 5.7 mb/d over the 2019-25 period at an average annual rate of 950 kb/d. This is a sharp reduction on the 1.5 mb/d annual pace seen in the past 10-year period.
Sep 24, 2020 · We expect global oil demand for 2020 as a whole to decline by 8.1 million b/d, wiping out six years of growth. We expect about 75% or 6.3 million b/d of demand to come back in 2021. The unprecedented cut to demand was met with an unprecedented cut to supply.
