• 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
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 9 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)

Breaking News:

Traders Place Bets On $250 Oil

Editorial Dept

Editorial Dept

More Info

Oil Supply Concerns Grow As Spare Capacity Is Tested

pipeline

Friday July 6, 2018

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. UK highest cost of production

(Click to enlarge)

- The UK and Australia had the highest cash cost per barrel of oil equivalent (boe) in 2017, according to Rystad Energy.
- More than 40 percent of the cost came from capex.
- The UK also has the highest production cost, as the North Sea is a particularly expensive place to produce oil.
- Still, costs have declined significantly in recent years.
- In June, Royal Dutch Shell (NYSE: RDS.A) gave the greenlight to its second North Sea oil project this year, a sign that the oil majors have not given up yet on the region.

2. Higher gasoline prices cutting into U.S. traffic volumes

(Click to enlarge)

- Gasoline prices are on the rise, and motorists are taking note. U.S. traffic volumes have leveled off and even taken a dip recently, after years of blistering growth.
- In April, the volume of traffic on U.S. roads declined by 0.6 percent compared to the same month a year earlier, seasonally adjusted, according to Reuters.
- It was the first year-on-year monthly decline since 2014. Even if April was an aberration, the pace of growth had slowed significantly since…




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