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All the latest in Oil, Gas, Commodity news and analysis
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19 мая, 18:00

U.S. Gas Output To Hit Rock Bottom In November

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The Covid-19 pandemic has forced oil and gas producers to slash budgets and reduce drilling activity, which in the US always affects future hydrocarbon output as existing fields naturally decline. Operators also shut some producing oil fields, halting in turn their associated gas output. Rystad Energy estimates that US gas production (Lower 48 States excl. Gulf of Mexico) will reach its lowest point in November, at 82.5 billion cubic feet per day (Bcfd) before a gradual slow recovery begins in 2021. We expect that gas production will decline every…

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19 мая, 17:30

Tesla To Raise Price On Full Self-Driving Models

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Tesla will raise the price on its models that feature the company’s fully self-driving system by $1,000 from July, chief executive Elon Musk tweeted yesterday.  “The FSD price will continue to rise as the software gets closer to full self-driving capability with regulatory approval. It that point, the value of FSD is probably somewhere in excess of $100,000,” Musk also said in the tweet. Roadshow reports the current price for the full self-driving package is about $7,000, adding that Tesla last raised…

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19 мая, 17:30

Oil Industry Faces Looming Threat Of Involuntary Outages

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After the forced suspension of drilling and well shut-ins, the global oil industry now faces another challenge: production outages resulting from delays in regular repairs caused by the supply-chain disruption courtesy of the coronavirus pandemic. “When the virus and the quarantine measures have been eased and it is safe to get back to work, it doesn’t mean the same work can be done with the same intensity because the weather windows could be missed and that can push maintenance even to the next year,” says Rystad Energy’s…

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19 мая, 03:00

The Oil Rally Is Running On Fumes

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Oil prices have surged to two-month highs on growing signs of a rebound in oil demand, as the easing of lockdowns spread worldwide. At its peak in April, global lockdown measures affected around 3.9 billion people. But an estimated 3.7 billion people are now living in areas that are experiencing some version of a “reopening,” according to an estimate from Raymond James.  Data from China has stoked some bullishness in oil markets, although there are some mixed signals. Traffic is back in many Chinese cities, and there are early…

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19 мая, 02:00

The $30 Trillion Megatrend To Watch As Markets Bounce Back

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The economy is reopening, stock markets are already bouncing back in a hedge on the future, and we’re about to see the biggest shift in capital in years.  It’s a big money shift away from tradition and towards a future in which retail investors--and major hedge funds--demand that their investments go into companies that are sustainable.  It’s not politics or ideology. It’s not right or left. It’s pure free-market sentiment dictating what happens after the lesson the market has learned before and during a…

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19 мая, 01:00

U.S. Shale Cuts Production Deeper And Faster Than Expected

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“I think the cuts are automatic if you are a believer in markets,” U.S. President Donald Trump said about potential American oil production cuts in early April while he was pushing Saudi Arabia and Russia to patch up the broken OPEC+ alliance and start new cuts to prop up oil prices that were decimating the U.S. shale patch. With the new OPEC+ deal done, Saudi Arabia is cutting oil production and export allocations for June to ‘stabilize’ the market--or perhaps better described, to save its faltering oil revenues…

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19 мая, 00:30

EIA Predicts A Record Drop In U.S. Shale Oil Production

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Crude oil production in the seven major US shale basins will fall by a record 197,000 barrels per day next month, the Energy Information Administration reported on Monday. Production in the seven most prolific shale basins in the United States is expected to fall to 7.822 million bpd, the EIA said, down from 8.019 million bpd this month. It will be a record monthly loss. The largest drop on the list for crude oil and condensate production is in the Permian, which is expected to fall by 87,000 bpd to 4.290 million bpd. The next largest…

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19 мая, 00:00

Natural Gas Drillers Face Price Meltdown As Storage Fills Fast

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Natural gas, the poster child of the fossil fuel industry and the bridge fuel to a renewable future, has suffered its fair share of problems amid the coronavirus pandemic. And it may suffer the same fate as oil, at least when it comes to storage. It may also suffer the same fate with regards to negative prices. For now, natural gas is faring better than oil in terms of prices and loss of demand. According to an analysis from Wood Mackenzie’s Kristy Kramer, Head of Global Gas Market Research, gas demand has fallen by just 2 percent since the…

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18 мая, 23:00

Should U.S. Shale Be Worried About A Chinese Takeover?

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American shale is easy prey as Beijing goes bargain-hunting.   China could soon embark on a global buying spree following the coronavirus-induced economic crisis and the re-opening of its economy, and the U.S. shale patch is an obvious target thanks to unprecedented demand destruction, ultra-low energy prices, and catastrophic debt levels that have left hundreds of IOCs on the verge of bankruptcy. And now, some officials fear that a Chinese takeover of the battered sector is looming, which poses a national security risk. Wayne…

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18 мая, 22:30

Venezuela Could Lose Its Most-Prized Oil Asset Citgo 

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The U.S. Supreme Court justices declined on Monday to review a federal court’s ruling that had allowed Canadian miner Crystallex to take over shares of U.S. refiner Citgo in compensation for US$1.4 billion for the expropriation of assets in Venezuela.   U.S. refiner Citgo is the crown jewel in the holdings of Venezuela’s state oil firm PDVSA, but the rejection of the Supreme Court to hear Venezuela’s arguments for appeal of the previous ruling could mean that Venezuela is now even closer to losing control over…

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18 мая, 22:00

Was This The Best Energy Trade Of The Decade?

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Last month, oil markets shocked the world when the West Texas Intermediate (WTI) crude benchmark plunged below zero. And oil prices didn’t just fall a little bit below zero, they hit nearly -$40 per barrel. This crash of stunning proportions was the result of a series of unfortunate oil industry events.  First, the spread of the novel coronavirus and the resulting industrial slowdown around the globe led to a severe decline in oil demand. When the leading OPEC+ members of Saudi Arabia and Russia began talks to strategize their response…

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18 мая, 21:30

Iran Warns The U.S. Not To Interfere With Venezuelan Fuel Shipments

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Iran has warned the United States not to interfere with any Iranian fuel shipments to Venezuela in Caribbean waters, Iran’s foreign ministry said on Sunday, following reports that the U.S. could consider measures in response to those shipments. Last week, a senior U.S. Administration official told Reuters that the United States was looking into measures that it could take in response to shipments of fuel from the Islamic Republic to the regime of Nicolas Maduro in Venezuela. Crisis-hit Venezuela is now reeling from severe…