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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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IHS Markit says outlook for crude oil prices strengthens through 2021

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Phase II of the recovery (the “just-in-time oil market” phase) is a delicate transition phase in which surplus inventories are worked down in parallel with rising supply as spare supply capacity returns from Vienna Alliance and North American producers. —Roger Diwan, vice president financial services, IHS Markit.

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EIA forecasts rising global oil production will limit price increases

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In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI).

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Tesla’s production expansion, surging oil prices bring stock upgrade from Daiwa Securities

Teslarati

Tesla’s ( NASDAQ: TSLA ) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock.

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Is A Second OPEC Cut In The Cards?

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OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

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The Oil War Is Only Just Getting Started

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The Oil War Is Only Just Getting Started. It’s been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how US shale is responding to fifty-plus-dollar oil with rebounding drilling activity.

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IHS Markit: global oil production now expected to be cut by as much as 17 MMb/d in Q2 2020; the Great Shut-In

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IHS Markit now expects much as 17 MMb/d total liquids output (which includes nearly 14 MMb/d of crude oil production) to be cut or shut-in during the period between April and June 2020. The Great Shut-In, a rapid and brutal adjustment of global oil supply to a lower level of demand is underway. But there is nowhere to hide.

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