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EIA: Permian region expected to drive US crude oil production growth through 2019

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Although favorable geology combined with technological and operational improvements have contributed to the Permian region becoming one of the more economically favorable regions for crude oil production in the United States, recent pipeline capacity constraints have dampened wellhead prices for the region’s oil producers.

2019 236
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Opinion: The Dark Side Of The Shale Bust

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The fallout of the collapse in oil prices has a lot of side effects apart from the decline of rig counts and oil flows. But North Dakota was experiencing a lot of the negative side effects of an oil boom even before prices crashed. By Nick Cunningham of Oilprice.com.

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests.

Oil 261
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White House: OPEC+ oil production increases “simply not enough”

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We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices. The EIA noted that concerns about decreased demand because of increasing COVID-19 cases have recently driven crude oil prices down, offsetting some initial price increases due to larger inventory draws.

Oil 243
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Opinion: Busting The “Canadian Bakken” Myth

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The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. enthused the Financial Post. WTI crude closed at $59.13 on Friday, June 5 th.

Oil-Sands 150
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State Department releases Keystone XL Final Supplemental Environmental Impact Statement

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Market analysis: cross-border pipeline constraints have a limited impact on crude flows and prices. The earlier 2011 Final EIS was developed contemporaneously with the start of strong growth in domestic light crude oil supply from tight oil formations, such as those formations found in North Dakota’s Bakken region.

Oil-Sands 220
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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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These avenues include alternative pipeline capacity to support Western Canadian, Bakken, and Midcontinent crude oil movements to the Gulf Coast as well as rail to transport large volumes of crude oil to East, West, and Gulf Coast markets.