ENB Pub Note: How this plays into the OPEC and OPEC+ production quotas has yet to be announced. We know that Saudi Arabia needs the 80 dollar range of oil for its fiscal budgets for its social programs, so we may see some production activity announced in the next meeting. The problems with the OPEC […]
Continue ReadingENB Pub Note: This article from Robert Rapier is spot on. Low oil prices are not always a good thing. When the price is too low, drilling stops, and then when the price comes back up, drilling begins again. We will see a price spike soon, as we are still short 4 trillion in cap […]
Continue ReadingENB Pub Note: This is an excellent time to talk about the fundamentals of the global oil and gas market. For years, the fundamentals were impacted by imperfect reporting from different sources, sanctions and weaponization of the US Dollar, and the response from Russia, Venezuela, Iran, and other countries. The Dark Fleet is well over […]
Continue ReadingOil and gas firms are focusing on infrastructure-led exploration (ILX) near existing fields to reduce costs and shorten development timelines. Spending on exploration remains subdued, holding steady at $50–60 billion annually since 2016. Companies prioritize smaller, quicker-return projects over high-risk frontier plays. Oil and gas companies are looking to get the most bang for their […]
Continue ReadingPresident Trump\’s tariffs are creating some uncertainty in the United States oil and gas market and resulting in a price drop. Brent crude futures were trading at $69.90 per barrel on Thursday, the same day that Trump announced his sweeping tariffs, while West Texas Intermediate futures were at about $66, both down around 7%. Rey […]
Continue ReadingOil prices have crashed to their lowest point since 2021 due to the escalating US-China trade war. Analysts fear the trade war will lead to a global recession, significantly reducing oil demand. The oil price slump puts pressure on OPEC+, potentially leading to a reversal of their recent production increase. Crude oil prices slumped to […]
Continue ReadingTrump’s sweeping tariffs and China’s retaliation triggered a sharp drop in oil prices. The oilfield services sector is particularly vulnerable, facing reduced demand and profit margins due to falling oil prices, higher import costs, and tighter client budgets. With WTI hovering near breakeven levels and OPEC+ unexpectedly ramping up output, analysts foresee consolidation among oilfield […]
Continue ReadingA top executive at Diamondback Energy Inc. called on President Donald Trump’s administration to explain how the global trade war will help shale producers, a rare instance of public pushback from a US oil boss. “This administration better have a plan @SecretaryWright,” Kaes Van’t Hof, president of Diamondback, said April 6 in a post on X. He added that US shale […]
Continue ReadingENB Publisher Note: This is an outstanding article from Ronald Stein. I have thoroughly enjoyed my podcast interviews with Ronald, and his expertise has always been well-received. He mentions Chris Wright, US Secretary of Energy, and NJ Ayuk, Executive Chairman of the African Energy Chamber, and they have fantastic points about Africa\’s needs to be […]
Continue ReadingOil continued its downward trajectory on Monday afternoon, with the stock market briefly reversing losses after CNBC reported the White House was considering a 90-day pause in tariffs for everyone except China. Oil prices barely got to respond before the White House walked the report back as “fake news”. On Monday at 11:12 a.m. ET, […]
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