What’s Affecting Oil Prices This Week? (Oct. 12, 2020)
Die another day—oil markets misunderstood OPEC’s recent outlook for oil demand to plateau in late 2030s, Stratas Advisors says in its latest oil price forecast.
Shell Says Appalachia Ethane Cracker in Pennsylvania About 70% Complete
Shell, which decided to build the plant in 2016, has not provided a cost estimate for the facility. Analysts have estimated the project will cost $6 billion to $10 billion.
US Crude Oil Production to Fall Less in 2020 Than Previously Forecast
U.S. energy firms last week added oil and natural gas rigs for a third week in a row for the first time since October 2018 after price increases in recent months prompted some producers to start drilling again.
What’s Affecting Oil Prices This Week? (Oct. 5, 2020)
Dear Prudence—trading floors will be a major challenge for oil markets, Stratas Advisors says in its latest oil price forecast.
Tankers Carrying Iranian Fuel Begin Entering Venezuelan Waters
The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Sept. 28, according to Refinitiv Eikon data.
What’s Affecting Oil Prices This Week? (Sept. 28, 2020)
So far in 2020 the oil market has seen Brent crude plummet, the U.S. lose 3 million bbl/d of crude production and European refiners more than halve utilization rates. However, as incredible as it seems, the worst might be yet to come, Stratas Advisors says in its latest oil price forecast.
US Oil Inventories Fall across the Board Last Week
Crude oil production slipped to 10.7 million bbl/d, down in part due to storm activity that closed offshore drilling sites in the U.S. Gulf of Mexico.
What’s Affecting Oil Prices This Week? (Sept. 21, 2020)
The first cut is the deepest…or not? OPEC+ will likely need to add oil output cuts soon, Stratas Advisors says in its latest oil price forecast.
Over Quarter of US Oil Production Shut from Hurricane Sally
Shell shut its Appomattox oil platform about 80 miles off the coast of Louisiana, joining BP, Chevron and Equinor in closing facilities in the U.S. Gulf of Mexico less than one month after Hurricane Laura.
What’s Affecting Oil Prices This Week? (Sept. 14, 2020)
From Russia with...honesty—a surprisingly bearish outlook from Russian Energy Minister Alexander Novak provided evidence of cohesion in the extended OPEC+ agreement on oil production cuts.