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NEWS |
Rystad Energy’s comment on Monday’s oil prices
Oil prices were already at higher levels than they should be before the OPEC+ and the G20 meetings due to market enthusiasm and hopes for a solution to the crisis....
NEWS |
Rystad Energy’s final comment on today’s OPEC deal:
The proposed 10 million bpd cut by OPEC+ for May and June will keep the world from physically testing the limits of storage capacity and save prices from falling into a deep abyss, but it will still n (...)
NEWS |
COVID-19 demand update: Oil seen down 9.4%, jet fuel down 31%, road fuel down 9.4% in 2020
Rystad Energy’s weekly comprehensive Covid-19 report calculates the effect of the novel coronavirus in our lives and offers updated estimates for global fuel markets.
NEWS |
Brake on US oil drilling! Active rigs are dropping by record margins, set for an overall 65% fall
Due to the combined global effect of the Covid-19 pandemic and the ongoing oil price war, the American oil and gas industry is stepping heavily on the brake pedal and is reducing drilling at record sp (...)
NEWS |
Targeted billion-barrel oil resources at risk as world’s top exploration wells for 2020 may face delays
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price (...)
NEWS |
A downturn silver lining: Permian gas flaring has decreased and is expected to fall further in 2020
The combined effect of Covid-19 and an ongoing oil price war has ushered in one of the worst downturns for the energy industry in modern history. Yet, a bright side is shining through; flaring levels (...)
NEWS |
Not much fat to cut: E&P operators will only be able to reduce supply chain costs by up to 12% in 2020
In the downturn of 2020, global E&P operators will only be able to cut supply chain costs by up to 12%, a Rystad Energy analysis shows.
NEWS |
Global natural gas prices for 2020 expected even lower, set to feel Covid-19 symptoms for years
The world’s demand for natural gas is being impacted by the Covid-19 pandemic, and although it will not be curtailed to the same extent as oil, Rystad Energy estimates international gas prices will re (...)
NEWS |
COVID-19 demand update: Oil seen down 6.4%, jet fuel down 26%, road fuel down 5.5% in 2020
Rystad Energy is creating a weekly comprehensive report calculating the effect of the novel coronavirus in our lives and updating estimates for global fuel markets.
NEWS |
Global E&P capex will reach at least a 13-year low in 2020 as COVID-19 and price war persist
Global capital expenditure (capex) for exploration and production firms (E&Ps) is expected to drop by up to $100 billion this year, about 17% versus 2019 levels, under Rystad Energy’s updated base cas (...)
NEWS |
Rig utilization could fall by 18% in Southeast Asia in 2020 as E&Ps weight their options
Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline. Several oil companies have already made significant cuts to their 2020 capex budgets due to the impact of the (...)
NEWS |
COVID-19 set to wipe out global solar and wind project growth for 2020, slash new capacity from 2021
Renewable energy projects expecting to achieve financial close or break ground globally will not avoid taking a hit from Covid-19’s effect on the economy.
NEWS |
COVID-19 demand update: Oil seen down 4.9%, jet fuel down 20%, road fuel down 5.6% in 2020
Rystad Energy is creating a weekly comprehensive report calculating the effect of the novel coronavirus in our lives and updating estimates for global fuel markets.
NEWS |
Above a million OFS jobs will likely be cut in 2020 as COVID-19 and low oil price take toll
More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad En (...)
NEWS |
Oil production cuts in Western Canada are imminent as storage is days away from full capacity
The Covid-19 virus and the ongoing oil price war have created such a large global supply surplus that Western Canada’s oil production will need to be cut from April by some 11%, or 440,000 barrels per (...)
NEWS |
Gas demand growth in Europe nearly erased as COVID-19 sends continent into lockdown
European gas demand in 2020 is likely to drop by 0.7% compared to our pre-coronavirus forecast, according to Rystad Energy’s most likely scenario.
NEWS |
Shock COVID-19 demand update: Oil seen down 2.8%, jet fuel down 12%, road fuel down 2.2% in 2020
Rystad Energy is creating a weekly comprehensive report calculating the effect of the novel coronavirus in our lives and updating estimates for global fuel markets.
NEWS |
More than 200 OFS firms in Europe could go bankrupt as Covid-19 slashes $5 billion off the market
Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent as the effect of the Covid-19 epidemic will hit (...)
NEWS |
A crude tsunami: Up to 3 million bpd of extra oil can hit the market from April, more coming in May
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates.....
NEWS |
Rystad Energy: coronavirus poised to wipe out majority of 2020 oil demand growth
The spread of coronavirus continues to deepen the severity of the blow to global fuels demand. Rystad Energy now expects more than half of global oil demand growth to be lost in 2020...
NEWS |
Demand for oil seen down 0.6%, jet fuel down 11%, road fuel flat, and air traffic down 16% in 2020, according to Rystad Energy’s COVID-19 report
Rystad Energy compiled a comprehensive report calculating the effect of the novel coronavirus in our lives and updating estimates for global fuel markets.
NEWS |
US drilled but uncompleted wells first to feel fright as oil price bungee jumps
In the wake of one of history’s largest oil price declines in a single day, a Rystad Energy impact analysis shows that US drilled but uncompleted wells (DUCs) will be the first assets to be threatened (...)
NEWS |
Out of service? OFS firms brace for bankruptcies as price war could slash $250 billion off E&P budgets
The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain on a (...)
NEWS |
Coronavirus ‘to cut 2020 oil and gas investments by $30bn’
The outbreak of the coronavirus disease is to cause extensive staffing and supply shortages in the oil and gas industry, as well as a fall in investment of around $30 billion (£23.4bn) in 2020.
NEWS |
US light oil production guided to grow by 8.1% in 2020, despite lower capex
Light oil production in the United States is guided to grow by 8.1% year-on-year, according to Rystad Energy’s analysis of the latest shale E&P guidance, despite an expected decrease in capital expend (...)
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