FROM THE OIL PATCH
Mid-Year Forecast: International operators make their way forward carefully
Although global oil and gas demand has recovered much of the ground lost last year, there are plenty of question marks left in the market for operators to navigate, including ESG and renewables challenges. In the months following our February 2021 forecast, it initially appeared as though some stability was
U.S. shale drillers fear losing European gas orders to Russia
U.S. shale drillers are increasingly worried that swelling Russian natural gas exports will slash their European market share. American gas
U.S. Northeast Update: Appalachian Basin Gas Production Still Outpacing Pipeline Construction
The Northeast power grid is the most natural gas-dependent of all U.S. regions, and the Appalachian Basin is setting record
Mid-Year Forecast: U.S. to see uptick as crude prices climb, demand recovers
Despite analysts’ dire predictions about Covid-19’s short-term/long-term effects on the industry, demand and oil prices recovered significantly in second-and-third-quarter 2021. Even with consistently higher oil prices, U.S. operators showed uncharacteristic restraint, focusing on debt reduction and shrinking the DUC backlog rather than new drilling. The U.S. petroleum industry faced continued
Oil industry needs $500 billion to avoid future supply crises, says Moody’s
Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. Crude and natural gas drillers chastened by last year’s unprecedented collapse in demand and prices haven’t responded
Oil prices may hit $100 this winter, spurring economic crisis, warns Bank of America
The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America. Natural gas prices have already surged to almost double that level in oil equivalent terms, and BofA says a spike
CRUDE OIL WEEKLY UPDATE (Week Ending 10-15-21)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending October 8, 2021 which was 0.7
NATURAL GAS WEEKLY UPDATE (Week Ending 10-15-21)
In the News (EIA): U.S. natural gas prices likely to remain elevated through the winter: In our October Short-Term Energy Outlook (STEO), we forecast that
Zekelman Industries Steel Snapshot for Oct 2021
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Oct HR Coil $1,960, up $3 from Sept. Sept Steel import applications up ~9% from
Preston Pipe Report – September 2021
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Line pipe licenses so far in September (8 of 21 business days counted) are already
Pipe Logix Line Pipe Report – September 2021
(by Kurt Minnich, www.pipe-logix.com) Line pipe prices increased $80/ton or 3% in September with domestic prices up 2.6% and import prices up 3.5%. Seamless prices
AISI – Press Release on Latest U.S. Imports of Steel Products – October 2021
(American Iron and Steel Institute, www.steel.org – October 8, 2021) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the
NAPCA Annual Convention
JW Marriott Hill Country Resort
San Antonio, Texas
