• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 45 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days Does Toyota Know Something That We Don’t?
  • 1 day America should go after China but it should be done in a wise way.
  • 7 days World could get rid of Putin and Russia but nobody is bold enough
  • 9 days China is using Chinese Names of Cities on their Border with Russia.
  • 10 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 10 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 10 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 9 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 19 hours How Far Have We Really Gotten With Alternative Energy
  • 10 days Putin and Xi Bet on the Global South
  • 10 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 11 days United States LNG Exports Reach Third Place
  • 11 days Biden's $2 trillion Plan for Insfrastructure and Jobs
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