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Commentary: Could falling oil prices spark a financial crisis?

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The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. When oil prices were high and production was relentlessly climbing, energy related junk bonds looked highly profitable. The situation will compound itself if oil prices stay low.

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IHS Markit: oil price collapse will change trajectory of North American gas supply

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The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. Combined, the Bakken and Eagle Ford are producing nearly 3 MMbbl/d of oil and 7.2

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EIA: US crude oil production will increase to new records in 2023 and 2024

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EIA based the forecast on expectations of crude oil prices and infrastructure capacity additions. The forecast of crude oil production in the Permian increases by 470,000 b/d to average 5.7 Producers currently flare some of the natural gas they produce. million b/d in 2023.

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Low oil prices hurting some US shale operations; slumping oil prices putting pressure on drillers

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The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks.

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Oil price collapse hurting some more than others

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US oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending. That pushed companies to focus on wet gas and oil.

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The driving force behind the US oil boom

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The shale revolution’s sweet spot is oilfield services, the lower-risk backbone of the American oil and gas boom that pays off regardless of a play’s economics. And while oil prices slumped in October, drilling activity continues to rise, according to Baker Hughes , the third-largest oil services company.

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Oil Jobs Lost: 250,000 And Counting; Texas Likely To See Massive Layoffs Soon

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an industry consultant, oil and gas companies have laid off more than 250,000 workers around the world, a tally that will rise if oil prices remain in the dumps. “I Still, upstream E&P companies are also being substantially squeezed by another plunge in oil prices. According to Graves & Co.,

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