WTI Midland's addition to dated Brent is reshaping the global oil market in 2023, driving US crude oil...
WTI Midland's addition to dated Brent is reshaping the global oil market in 2023, driving US crude oil exports higher and consequently putting downward pressure on oil prices in Europe, Asia, Brazil, and Africa. "As Midland becomes more and more important in the dated Brent assessment, it has a knock-on effect on other grades having to price themselves lower to compete with WTI Midland," explained Vortexa market analyst Rohit Rathod.
Researchers at the University of California, Santa Barbara, have developed MethaneMapper,...
Researchers at the University of California, Santa Barbara, have developed MethaneMapper, a new AI-based software that allows the detection of methane leaks over vastly different terrains, which has been a roadblock for earlier technologies. The Airborne Visible-Infrared Imaging Spectrometer - Next Generationuses AI to perform the difficult task of sorting the presence of methane emitted by the oil and gas industry from background objects.
Firm sees success in the Bakken with 3-mile laterals
Chord Energy has accelerated well-to-sales...
Chord Energy has accelerated well-to-sales timelines and boosted production by implementing a three-mile lateral program in the Bakken Shale. Notably, three-mile laterals on the company's Indian Hills acreage yielded 36% more production than two-mile laterals, prompting CEO Daniel Brown to emphasize an ongoing commitment to extended lateral drilling practices.
The growing clout of U.S. oil means that any downward change in U.S. production would have an upward effect on global prices and vice versa.https://t.co/krufJkZw8E
The energy sector is poised for a lower start, ending a three-day winning streak amid further weakness in the crude complex and after major equity futures turned lower.Investor sentiment took a hit this morning after Moody’s downgraded their credit rating on several banks and warned of possible cuts to others, driving the entire sector lower and reigniting fears of the health of the U.S. banking systems. Earnings season continued to wind down today with just a handful of producers and midstream operators announcing results but earnings will start to take a back seat as attention shifts to Thursday’s July CPI print, this week's key macro event.
WTI and Brent crude oil futures extended yesterday’s declines into this morning’s session, pressured by Chinese trade data which showed imports and exports fell much more than expected in July, strength in the dollar, and as traders begin to assess the impending end of the U.S. summer driving season.
After three-consecutive days of strong gains, natural gas futuressteadied this morning with attention still on ongoing heat warnings across the U.S. and forecasts turning hotter for the third week of August.
