Tags

Strategists Forecast USA Crude Inventory Build

In its latest weekly petroleum status report at the time of writing, which was released on July 30 and included data for the week ending July 25, the U.S. Energy Information Administration (EIA) highlighted that U.S. commercial crude oil inventories, excluding those in the SPR, increased by 7.7 million barrels from the week ending July 18 to the week ending July 25.

Workrise licenses Shell’s u-lateral drilling technology for U.S. market

Developed by Shell, U-lateral drilling offers significant benefits for an industry where efficiency is more important than ever before. By enabling rigs to drill more reservoir footage per month, reducing both the cost per foot of reservoir accessed and the cost per barrel of oil produced, the U-lateral technique allows operators to reduce drilling costs and save time while effectively increasing the production capacity of each surface rig by 50%.

S&P Global Says USA Crude Oil Production Now Expected to Decline in 2026

“Slowing global oil demand amid extreme uncertainty about the future of U.S. trade and a coming supply surplus are expected to hobble U.S. oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights,” the analysis piece – by Jim Burkhard, Vice President and Global Head of Crude Oil Research, Ian Stewart, Associate Director, and the S&P Global Commodity Insights Crude Oil Markets team – stated.