FROM THE OIL PATCH
The Real Reason Big Oil Is Refusing To Boost Production
Over the last couple of weeks, a stand-off has been developing between President Joe Biden and shale oil and gas producers in West Texas. As soaring gas prices add pressure to cash-strapped United States residents already feeling the pressure of inflation, the economic strain is reflecting poorly on the Biden
Dems confident on methane fee as budget bill moves to Senate
A Democratic plan to impose a fee on methane emissions from oil and gas wells has cleared a key hurdle, but it
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Nat gas producers face billions in hedging losses for 2022 – Rystad Energy
U.S. natural gas producers will face billions of dollars in hedging losses for 2022 as the global energy crunch boosts
‘It is entirely doable, and it is doable fast’: Experts on how to navigate the energy transition
The deepening climate emergency underscores the urgent need for policymakers to oversee a rapid transition away from fossil fuels. How countries navigate this switch, however, is fiercely contested. The burning of energy sources such as coal, oil and gas, is the chief driver of the climate crisis. Yet, while politicians
Higher investment is needed for Eagle Ford to facilitate production growth, says GlobalData
Crude oil and natural gas production in the Eagle Ford shale play, situated in southeast Texas, dropped by almost 35% and 20%, respectively, in May 2020 due to the COVID-19 pandemic, according to GlobalData. The data and analytics company notes that, despite a recent sustained upswing in WTI crude oil
Oil crashes more than 10% as new Covid variant strikes fear in global markets
Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. Both benchmarks tumbled on Friday with the emergence of the new variant representing the biggest threat to the recovery in oil consumption
CRUDE OIL WEEKLY UPDATE (Week Ending 11-26-21)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending November 19, 2021 which was 243,000
NATURAL GAS WEEKLY UPDATE (Week Ending 11-19-21)
In the News (EIA): Working gas stocks end refill season 3% below the five-year average: Working natural gas in storage in the Lower 48 states
Zekelman Industries Steel Snapshot for Nov 2021
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Nov HR Coil $1,840, down $120 from Oct. EU agrees to quotas starting Jan 1st
Preston Pipe Report – Nov 2021
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Our projected line pipe shipments for 2021 will represent the lowest line pipe volume in
Pipe Logix Line Pipe Report – October 2021
(by Kurt Minnich, www.pipe-logix.com) Line pipe prices were up 3.4% in October with domestic prices up 2.1% and import prices up 5.1%. Prices have more
AISI Press Release on Latest U.S. Imports of Steel Products – Nov 2021
(American Iron and Steel Institute, www.steel.org – November 3, 2021) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the
