EIA Forecasts US Natural Gas Production Will Increase in 2022
Oil and gas companies have recovered from the 2020 crisis with bumper cash flows in 2021 and are looking towards 2022 with more cash on hand to increase shareholder distributions and prepare for the energy transition. In 2022, the oil and gas industry could be up for a transformational year in terms of both preparedness […]
JP Morgan Predicts The End Of Covid, A Strong Economy, And $125 Oil
Next year could lay the foundation for “a far more vibrant economic environment” and COVID transitioning from a pandemic to an endemic disease, JP Morgan said in its Outlook 2022, titled ‘Preparing for a vibrant cycle.’ According to the investment bank, household net worth is at all-time highs in many developed countries, and excess savings are elevated. […]
U.S. projects oversupplied global oil markets by early 2022
The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves. Supply increases next year from OPEC nations as well as U.S. drillers will ultimately pressure prices lower. The U.S. benchmark crude will fall […]
Demand forecasts set tone for oil prices
Crude oil prices this week will swing on the lingering impact of Hurricane Ida and demand expectations from global market forecasts, analysts said. West Texas Intermediate, the U.S. benchmark for the price of oil, increased 1.4 percent during the week ending Sept. 10 on the back of the ongoing impact of Hurricane Ida,. Crude closing Friday […]
World’s largest economies are surpassing pre-Covid oil demand
Some of the world’s biggest economies are seeing oil consumption turn the corner and even surpass pre-pandemic levels as falling Covid-19 infection rates drive a recovery in activity. Oil demand in China, the world’s top energy consumer, will be 13% higher next quarter than in the same period in 2019 before the pandemic, according to […]
Permian Basin oil and gas industry continues to consolidate in the wake of COVID-19
Oil and gas operators in the Permian Basin continued to consolidate land used to produce fossil fuels, purchasing acreage already in production to drive up returns for investors. The industry began its consolidation in the wake of the COVID-19 health crisis which saw the price per barrel plummet below $0 per barrel for the first […]
