• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 2 hours New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 7 hours ..
  • 5 hours Countries with the most oil and where they're selling it
  • 58 mins Permafrost Melting Will Cost Us $70 Trillion
  • 12 hours Summit: Kim, Putin To Meet Thursday in Russia’s Far East
  • 12 hours Iran Sabre Rattles Over the Straights of Hormuz
  • 6 hours Section 232 Uranium
  • 4 hours Nothing Better than Li-Ion on the Horizon
  • 5 hours How many drilling sites are left in the Permian?
  • 10 hours China To Promote Using Wind Energy To Power Heating
  • 14 hours "Undeniable" Shale Slowdown?
  • 8 hours Deep Analysis: How China Is Replacing America As Asia’s Military Titan

The Need-To-Know Numbers In Global Energy

This week, we take a look at some of the most importanr figures put out in the energy sector over the last seven days. With the release of the IEA’s World Energy Outlook, there is no shortage of data from which to analyze trends in oil and gas over the coming weeks and months.

Let’s take a look.

Upstream oil and gas investment falls off a cliff

Low oil prices are forcing companies to scramble. Upstream investment has been getting the axe, with total investment dollars falling by 20 percent this year from 2014 levels.This will affect long-term production levels, but the effects on production have largely not yet been felt.

U.S. shale on the decline 

Shale production is affected much more quickly than conventional oil fields.U.S. oil production continues to take a hit, with the major shale regions expected to post month-on-month declines. The EIA sees the Eagle Ford suffering the worst, projecting a loss of 78,000 barrels per day in December. Natural gas production is also showing several months of decline. The nation’s most prolific formation, the Marcellus, is expected to decline by 229 million cubic feet per day in December, suggesting that U.S. gas production has peaked for now.

 

 

Global oil reserves and production 

The chart above beautifully illustrates the world’s still overwhelming dependence on the Middle East for oil, notwithstanding…



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