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US Shale Output Tops 8mn b/d, Are The Gains Sustainable?
...d of this month. The last time the Permian DUC count was at 2,000 was in December 2017 when Permian output was just 2.88mn b/d, almost 2mn b/d below current levels. Clearly there is a limit to how long this DUC drawdown can continue. Well drilling and completion (fracking) are carried out by se...
Volume: 64Issue: 37Published at Fri, 17 Sep 2021 -
New Saudi Energy Minister Faces Princely Task
...ngdom’s ministry of energy. For much of that time he has been intimately involved in Saudi Arabia’s work at Opec, forging relationships with counterparts across the globe. Most recently he has been Minister of State for Energy Affairs since 2017. EXPERIENCED HAND From that perspective this is an op...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Volatile Market Outlook Provides Opec With Challenges Ahead Of Algiers Meet
...rly 2017. Further significant falls in stocks could therefore result in substantial oil price gains and Brent is again testing near-four-year highs of $80/B. It broke the barrier during trading hours on 12 September before settling at $79.74/B. IEA SUPPLY & DEMAND FORECASTS, SEPTEMBER 20...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
US Oil Output Forecasts Revised Down, Energy Independence Postponed
...L FORECASTS (MN B/D) 2017 2018 vs 17 2019 vs 18 Crude Ou...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Oil Market Surplus To 2019 Despite Strong Growth Projections
...erproduction, if the group’s output stays flat for the remainder of 2017, demand ought to slightly outstrip supply over the course of the year. The IEA pegs demand for Opec crude at 32.70mn b/d for 2017 as a whole, while Opec puts it slightly lower at 32.67mn b/d. MEES calculates this would result in supply sh...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
US Cuts Output Growth Forecasts On Harvey, Lower Prices
...mainder of 2017 is less than might have been expected as the organization had already factored in an expected hurricane-season-related dip to August and September output. The latest STEO has US crude output rebounding to 9.29mn b/d in September, the highest figure since October 2015, though Gulf of Me...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Surplus To 2018 Leaves Opec No Good Options
...2017 drawdowns and a deficit for the year as a whole. Opec’s latest monthly oil report, also released this week, and last week’s from the US’ EIA are marginally less bearish, though even they project a large surplus of supply over demand for 2017 as a whole. All three have markedly revised up...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016