SLB Earnings Rise, But Weakened 4Q and 2025 Ahead Due to Oil Glut
SLB, like Liberty Energy, revised guidance lower for the coming months, analysts said, as oilfield service companies grapple with concerns over an oversupplied global oil market.
What's Affecting Oil Prices This Week? (Oct. 21, 2024)
Currently, Stratas Advisors are forecasting that oil demand will increase by 1.20 MMbbl/d in 2024. Earlier this year, OPEC was forecasting 2.25 MMbbl/d of oil demand growth.
Rystad: 12 MMbbl/d at Risk in Full-blown Middle East War
A full-blown war in the Middle East could end up with 12 MMbbl/d of oil at risk—leading to high prices and widespread global consequences, according to Rystad Energy.
IEA: North America to Lead LNG Supply Growth in 2025
U.S. LNG projects ranging from Plaquemines LNG Phase 1 to Corpus Christi Stage 3 are set to account for around three-quarters of the global incremental supply coming online in 2025, according to the Paris-based International Energy Agency (IEA).
Baker Hughes Defies Nature with an Upgrade to Ol’ Fashioned Cement
Baker Hughes’ InvictaSet uses regenerative capabilities to provide operators with a sustainable cement solution that can last for years.
Nabors Industries to Buy Parker Wellbore for $370MM
Nabors Industries Ltd. will buy Parker Wellbore for 4.8 million shares of Nabors common stock and assume an additional $100 million in debt as OFS companies continue to consolidate following a massive wave of E&P M&A since 2023.
E&P Highlights: Oct. 14, 2024
Here’s a roundup of the latest E&P headlines, including another delay at one of the largest gas fields in the world and two major contracts in West Africa.
Geopolitical Tensions Complicate Oil Price Predictions
Geopolitical tensions around the world are an ongoing wildcard for oil prices in the near-term, according to BOK Financial Securities’ Dennis Kissler. U.S. producers will have to pivot off of whatever hand they are dealt.
What's Affecting Oil Prices This Week? (Oct. 14, 2024)
Similar to last week, Stratas Advisors forecast that oil prices will be relatively flat with a downward bias unless there is another military strike of note.
OPEC Cuts 2024, 2025 Global Oil Demand Growth View Again
The weaker outlook highlights the dilemma faced by OPEC+, which is planning to start raising output in December after earlier delaying the hike against a backdrop of falling prices.