FROM THE OIL PATCH
Oil industry stabilizing, but painful recovery ahead
The global pandemic knocked the wind out of New Mexico’s oil and gas industry last spring, but as the economy gradually reopens, stability is slowly returning. Most local producers closed the spigots on existing wells and largely ceased drilling on new ones during the height of the crisis in May,
U.S. drilling total for 2020 will be lowest in more than 80 years
At World Oil, we have finished compiling the 2020 mid-year forecast update for drilling and production. On the drilling side, we now
Everything Points To More Natural Gas Demand This Decade
Natural gas has often been vilified as just another fossil fuel contributing to the climate crisis. While gas-fired power generation
Dallas Fed sees the U.S. oil industry prioritizing output over debt
After all the trauma the U.S. oil industry has been through this year — from production cuts to mass layoffs and a string of bankruptcies — many producers say they’re still prioritizing output over reducing debt. At least that’s according to the latest energy survey published by the Federal Reserve
How The Oil Crash Solved The Permian Pipeline Problem
While Permian oil and gas production was soaring in 2018, U.S. midstream operators were planning and building pipeline takeaway capacity, expecting that the largest U.S. shale play would increase output for years to come, even if at a slower pace than before. Pipeline companies rushed to invest in and complete
U.S. Oil Exports Continue To Decline
Declining global oil and fuel demand in the pandemic pushed U.S. crude oil exports down from their record-high of 3.7 million barrels per day (bpd) in February in each month through June, the Energy Information Administration (EIA) said on Tuesday. U.S. exports of crude oil fell from 3.708 million bpd in
CRUDE OIL WEEKLY UPDATE (Week Ending 09-25-20)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 13.4 million barrels per day during the week ending September 18, 2020 which was 119,000
NATURAL GAS WEEKLY UPDATE (Week Ending 09-25-20)
In the News (EIA): Industrial sector consumption of natural gas falls amid slowing economy: Natural gas consumption in the U.S. industrial sector declined from 25.4
Zekelman Industries Steel Snapshot For Sep 2020
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Sept HR Coil is $541, up $97 from Aug. Mills have customers on allocation for
Preston Pipe Report – The Line Pipe Market – September 2020
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor <= 16” Diameter – In the small diameter line pipe market, our industry contacts tell us
Pipe Logix Line Pipe Report – August 2020
(by Kurt Minnich, www.pipe-logix.com) Line pipe prices were 0.7% lower in August with domestic prices down 0.6% and import prices down 0.7%. This is the
AISI – Press Release On Latest U.S. Imports Of Steel Products – September 9, 2020
(American Iron and Steel Institute, www.steel.org – September 9, 2020) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the
OCTG & LINE PIPE FORECASTING SUMMIT
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