• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 33 mins Is Europe heading for winter of discontent with extensive gas shortages?
  • 19 hours Sand Powered Batteries for Heating Industries and Homes
  • 5 days Once seen as fleeting, a new solar tech proves its lasting power
  • 5 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 10 hours "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 2 days Bloomberg - "Hedge Funds Hit by ‘Onerous’ ESG Rule Turn to Lawyers for Help"
Editorial Dept

Editorial Dept

More Info

Is U.S. Shale Past Its Prime?

Friday October 27, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Oil outages at lowest since 2012

(Click to enlarge)

- The world seems like it is beset with geopolitical instability, but tell that to the oil market. Unplanned global supply disruptions fell to only 1.6 million barrels per day (mb/d) in September, the lowest level since January 2012, according to the EIA.
- The volume of outages has shrunk by a whopping 1 mb/d in the past six months alone, the result of restored production in Libya, Nigeria and Iraq. Canada also brought some disrupted output – from the horrific wildfires last year – back online in August 2017.
- In fact, the recent peak in outages occurred in the spring of 2016, topping out at more than 3 mb/d of disrupted output in May 2016. That was due to the combination of outages in Libya, Nigeria and Canada.
- It is no wonder that the recent outage in Iraq – due to the seizure of the Kirkuk oil fields by Iraq from the Kurdish government – have barely been reflected in oil prices. Some 400,000 bpd have been taken offline, but Brent is still at about $58 per barrel.
- Moreover, with OPEC keeping barrels off of the market by about 1.2 mb/d, there is…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News