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Oct 14, 2020 · 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. The overall demand estimate for 2020 is largely unchanged at 91.7 mb/d (down 8.4 mb/d versus 2019), as is the estimate for 2021 at 97.2 mb/d, (up 5.5 mb/d year-on-year).
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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...
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 ...
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 ...
Jul 10, 2020 · In its latest monthly oil market report, the Paris-based agency raised its estimate for global oil demand by 400,000 b/d this year, estimating the demand collapse during the peak of lockdowns in Q2 was less severe than expected at 16.4 million b/d. Last month, the IEA had estimated a Q2 demand hit of almost 18 million b/d.
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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Sep 28, 2021 · Global oil demand is forecast to rise by 17.6 million b/d between a long-term period of 2020 and 2045, growing to 108.2 million b/d in 2045 from 90.6 million b/d in 2020.
