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Friday, August 14, 2020

U.S. shale output growth should offset OPEC cuts in 2019

Jessica Resnick-Ault NEW YORK, Dec 19 (Reuters) - Surging U.S. crude oil production will offset OPEC’s output cuts aimed at rebalancing the market as soon as the end of next year - undercutting the group’s efforts as shale producers ramp up output regardless of the...

Shale Under Pressure As Oil Falls Below $50

By Nick Cunningham The OPEC+ cuts still are not doing very much to boost oil prices, dashing hopes for many U.S. shale producers. With companies in the process of formulating their budgets for 2019, the prospect of $50 oil sticking around raises questions about...

Fitch Ratings: Iran, Venezuela and US Shale Output To Drive Oil Prices

Lagos Nigeria -17 October 2018: Iranian and Venezuelan oil production levels, along with the pace of US shale growth, will drive oil prices in the medium term, Fitch Ratings says. Supply constraints at a time of steadily growing demand are leading the Brent price...

As shale wells grow longer, buyouts attract hemmed in oil producers

BEIJING/SINGAPORE (Reuters) - Shanghai crude oil futures fell further on Thursday and were at parity with the U.S. market, as state oil majors and local traders piled on more bearish bets amid concerns about domestic refinery demand. The latest drop takes the fall since...

Brent Near Two-Year Highs

Energy Wednesday, November 1,2017 O il prices steadied on Tuesday after a week of gains, as the prospect of increasing US exports dampened bullish sentiment that has driven Brent to more than two-year highs of over $60 per barrel. Benchmark Brent was down 10 cents at $60.80...

Investors push U.S. shale firms to separate executive pay from drilling

by Ernest Scheyder HOUSTON  - Activist investors are taking aim at U.S. shale producers, the companies most responsible for turning the nation into a global energy powerhouse, pushing them to stop rewarding executives for spending billions of dollars on new wells when crude prices are...

Oil needs to stay $50 a barrel for US drillers to make money says Moody’s

Drillers need prices to stay above $50 a barrel for oil and $3 per mmBtu for natural gas in order to make a significant return on capital, Moody's says. Producers have driven down costs, but capital efficiency now depends on higher oil and...

Libya Oil Output Gains as Country Faces Calls to Join OPEC Cuts

By Salma El Wardany Producer is said to pump 950,000 b/d on Sharara field re-start Rising Libyan supply complicates OPEC effort to drain oil glut Libya’s oil output is rising again after disruptions ended at its biggest field,...

BHP Billiton hires Barclays and Citi for US shale gas sale

BHP Billiton (LON:BLT) has hired Barclays and Citigroup to help it exit its underperforming US shale oil and gas business, Reuters has reported. The move comes after the Anglo-Australian miner recently revealed that it was planning to exit its US shale business, amid pressure...

Citi: U.S. Shale Beats OPEC At $40 Oil

Citigroup has said that U.S. shale will prevail over OPEC because of its higher resilience to low prices and OPEC’s losing strategy of cutting output and losing revenues and market share. Citigroup’s head of commodity research, Ed Morse, told Bloomberg in an interview that OPEC...
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