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Oct 12, 2021 · This quarter, global oil demand is forecast to grow to around 99 million barrels per day (bpd), up from 97 million bpd in the third quarter, when demand rose by 6 percent compared to the third ...
- Industry Updates
- Restructuring Updates
- M&A, Capital Markets, and Capital Projects
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...
Feb 26, 2021 · Long-term up to 2040. Long-term equilibrium oil prices have decreased by $10 to $15/bbl compared with pre-COVID-19 outlooks, as driven by a flattening cost curve and lower demand. Under an OPEC-control scenario, in which OPEC maintains its market share, we see a $50 to $60/bbl equilibrium price range in the long term, fueling 10 to 11 MMb/d US ...
Feb 9, 2020 · 2020 supply stack Production Oil sands from sanctioned projects 0.3 OPEC Gulf Shale oil (including production from spare capacity 92.3 –37.1 2.4 41.7 7.8 4.1 100.8 37.6 MMb/d NGL and other liquids2 Other3 OPEC Gulf Shale oil4 Oil sands Deepwater Shallow water Crude and condensate = 76.5 79.3 Global oil-supply growth 2020–40, MMb/d ...
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Jul 10, 2020 · As a result, the data is showing mobility and gasoline demand is slipping back in the worst-hit states of Texas, Arizona, California, and Florida. Largely reflecting the threat to US demand, the IEA lowered its third-quarter demand forecast by 630,000 b/d to 94.3 million b/d, which is 6.5 million b/d below the year-ago levels.
In the short term, oil demand remains weak and we have reduced our estimate for the fourth quarter of 2020 by 0.2 million barrels per day on small data revisions in various countries. For the year as a whole, global demand will be 91.2 mb/d, which is 8.8 mb/d below the 2019 level and down 0.1 mb/d from our last Report.
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Mar 9, 2020 · About this report. Oil 2020 examines the key issues in demand, supply, refining and trade to 2025. This year, the report considers topics such as the impact of the new coronavirus (COVID-19) on demand; slowing supply growth in the United States and other non-OPEC countries; and the level of spare production capacity in OPEC countries to help ...
