Oil Pauses Ahead of OPEC+ Meeting
Oil steadied as traders weighed geopolitical tensions from Venezuela to Russia and Yemen against concerns about a global glut. West Texas Intermediate futures were little changed to settle near $58 [...]
Rystad Energy: 2021 could offer a window of opportunity for producers
The Covid-19 pandemic has devasted crude and condensate demand in 2021, creating massive supply surpluses and filling up inventories, causing producers to slash their output in order to keep [...]
Stronger Oil Curve Points to Cushing Glut Relief
(Bloomberg) -- Oil stockpiles at America’s largest storage hub are set to unwind with the market showing real signs of strength for the first time since the pandemic crushed [...]
Oil Down on Signs of OPEC+ Discord
(Bloomberg) -- Oil dropped below $45 a barrel as a consensus within OPEC+ to postpone an output hike planned for January remained elusive ahead of a meeting of the [...]
Offshore Rig Values Take $30B Hit
Offshore rig values have declined almost 42 percent in 12 months, equating to a loss of around $30 billion. That’s according to Bassoe Offshore, which noted that the offshore [...]
Feds Propose 2021 Offshore Lease Sale
The U.S. Bureau of Ocean Energy Management (BOEM) on Tuesday proposed offering approximately 78.2 million acres for a region-wide Gulf of Mexico (GOM) lease sale scheduled for March 2021. [...]
OPEC Revises 2020 Oil Demand Forecast
OPEC has lowered its 2020 oil demand forecast to -9.8 million barrels per day (MMbpd), OPEC’s secretary general, Mohammad Sanusi Barkindo has confirmed in a statement via videoconference at [...]
Dolphin Drilling Rig Commences Mexico Contract
The Blackford Dolphin semi-submersible rig on Dec. 3, 2020, commenced its contract with Pemex after successfully completing its contract checklist inspection, Dolphin Drilling reported Monday. Pemex will use the [...]