For the 2021 calendar year, there will be 5.8 million barrels per day crude production cuts. These cuts are an effort to balance the current oversupply due to COVID-19 with an estimated demand forecast for the year.
oil and gas
OPEC+ Alterations Amidst Additional Oversupply
By: Ryan Wolfe / Posted on: November 10, 2020
Slim in...for good?
By: Adam Dunlap / Posted on: August 24, 2020
Oil and gas explorations remain sluggish and failing to rebound as expected. At $40+ a barrel and positive market indicator would historically promote conditions for the industry to recover, however there has been no indication of a recovery to speak of. The new normal seems to be a slim, budget conscious, and efficient industry soup to nuts.
The Eye in the Sky
By: Matt Karol / Posted on: August 21, 2020
The use of drones are being utilized in various industries all the time, from the military to recreation, but could we see the use of drones in the oil and gas industry? Of course, the drone model DJI M300 is used quite frequently in refinery inspections. “The accuracy of measurement increases with every new DJI drone model” says, Italian Engineer and spokesman, Flavio Dolce.
Are We Nearing The End Of Oil & Gas Exploration?
By: Jon Babyak / Posted on: August 18, 2020
Volatility in investing in oil and gas is nothing new, but the COVID-19 pandemic-driven demand destruction is forcing oil and gas companies to reassess the value of their biggest assets, proven reserves. Oil and gas companies have historically held faith in their reserves even during energy downturns, but this time feels different, and oil executives are starting to prepare themselves for large amounts of their oil and gas reserves to become totally worthless.
Will the Oil Rally Lose Steam?
By: Mike Dombroski / Posted on: August 12, 2020
Ever since WTI crude oil prices broke out above the $32/barrel level in May, we have been on a steady grind higher. The question is, will this continue?
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