Rystad Energy comments on upcoming OPEC+ meeting
Oil prices stated the day with optimism after several days of trimming February gains, as markets hope for positive news from this month’s coming OPEC+ meeting.
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Oil prices stated the day with optimism after several days of trimming February gains, as markets hope for positive news from this month’s coming OPEC+ meeting.
Haavard Oestensen, Head of Growth, Digital Energy, Kongsberg Digital, explains why capable digital twin solution providers enable operators to take significant strides towards becoming data-driven and digitally enabled.
Oil prices started the week boosted by the US stimulus bill that the US House of Representatives passed but a risk of bearish developments could trim gains going forward.
The US will account for 70% of the total projects expected to start operations by 2025, according to GlobalData.
Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, and its Head of Shale Research, Artem Abramov, have commented on today's oil prices and on US oil production respectively.
While precise crude oil production figures are not available, 20% of lower 48 US natural gas production has been shut-in in the first half of February. An equivalent 20% cut in lower 48 US crude oil production would imply a production drop of around 2 – 2.2 million bpd of output, but this could prove to be even higher – perhaps as high as 4 million bpd.
Oil prices have jumped as the extreme cold weather the US is experiencing is impacting oil production, but refinery outages are limiting the price ascent.
Oil prices have jumped again as cold weather causes US supply growth slowdown, in addition to an overall bullish market sentiment.
Oil prices rose on Friday, supported by Saudi Aramco’s selling prices and an overall market confidence that storage draws and tight OPEC+ supply inspire. But a correction may soon be due.
Improving commercial models which support cost reduction whilst incentivising the supply chain could re-energise collaborative culture, according to the findings of the annual Deloitte and OGUK Collaboration Report.
Greg Bannec, Victaulic, explains how Crestwood Midstream Partners streamlined construction of a new saltwater disposal facility with prefabrication and HDPE solutions.
Wood Mackenzie has outlined three themes that will impact oil markets and refining in 2021.