• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 3 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 10 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 14 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 29 mins Solar Cheaper than Coal
  • 32 mins CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 2 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 9 hours California's Oil Industry Collapses Despite Shale Boom
  • 5 hours Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 7 hours North Dakota oil output totals 1.39 million b/d in March, up 4% on month: state
  • 3 hours Global Warming Making The Rich Richer
  • 14 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 14 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
  • 6 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 29 mins Crude oil?

Pipeline Problems Plague North America

Rig

Friday September 7, 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.

(Click to enlarge)

Key Takeaways

- Crude inventories fell again, dipping close to the 400-mb range.

- However, gasoline inventories rose, offsetting some of the crude draw.

- Oil prices fell after the mixed numbers were released, perhaps overshadowed by larger factors such as the threat of a trade war escalation.

1. DUC list continues to grow

(Click to enlarge)

- The number of drilled but uncompleted wells continues to grow, hitting 8,033 in July, up from 5,504 at the start of 2017 and 7,198 in January 2018.
- The Permian accounts for a large slice of the DUC backlog, with the total standing at 3,470 in July.
- According to the FT, executives from Schlumberger (NYSE: SLB) and Halliburton (NYSE: HAL) admitted at an industry conference that drilling activity in the Permian was slowing down, reducing their leverage in pricing negotiations with oil producers.
- Halliburton’s CEO said that the shale slowdown, combined with some project delays in the Middle East, will reduce quarterly earnings by 8-10 cents per share. The company’s stock fell by nearly 6 percent on that statement.




Oilprice - The No. 1 Source for Oil & Energy News