China’s Oil Demand Shows Signs of Recovery
Gasoline and diesel demand are set to increase YoY beginning in Q3 2020.
EIA: Global Liquid Fuel Inventory To Decline for 1.5 Years After Reaching 2020 Peak
The recent increase in global liquid fuel inventory has been largely driven by travel restrictions, and reduced economic activity. Supply is expected come back down as demand and prices recover.
Video: SPE Talks Leadership
SPE leaders share their insights on how COVID-19 and the low oil price environment are affecting the oil and gas workforce, the SPE, and future industry interaction, including academia.
Oilfield Life After the COVID-19 Crash
What will the landscape of this industry look like when the dust of the current price crash settles? The business will realign, as it always does. This may bring big changes to the future of technology development.
Offshore Enters Uncharted Waters
For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.”
Video Interview: Implications of Negative WTI
On 20 April, a historic drop of oil prices occurred. WTI futures contract dove into negative territory for the first time ever.
SPE Broadcasts First Editorial Roundtable Through LinkedIn Live
SPE's first live editorial roundtable discussion covered latest news and new technologies.
Texas Railroad Commission, Executives Hold Hearing To Explore Production Quotas
Even some free-market advocates are calling for regulators to step in and try to help pull them out of what feels like a chasm by setting production limits.
OPEC+ Moves To End Price War With 9.7 Million B/D Cut
Reductions will begin next month and last until June. After that, major oil producers around the world plan to step down from the cuts in phases that extend to 2022.
COVID-19 and Low Oil Prices—Critical Supply Chain and Procurement Strategies
With oil prices at historic lows and with COVID-19 supply chain disruptions, the time has come to evaluate supply chain and procurement strategies, sourcing techniques, and costs.
Podcast: Discussion on COVID-19 With Johana Dunlop
An expert panel moderated by Johana Dunlop, SPE technical director for HSE and sustainability, covers a wide range of issues facing the double crisis of COVID-19 and historically low crude prices.
Further Cuts Announced Due to Low Oil Price, Supply/Demand Imbalance
ExxonMobil and Halliburton made additional cuts in spending and personnel.
Whiting Files for Bankruptcy
The Denver-based shale producer is the first to cite the ongoing price war and COVID-19 pandemic as the triggers for its insolvency.
Spending Cuts First, Job Cuts Are Next
Oil exploration and production jobs globally are at about the level they were after deep cuts following the 2014 crash. Now companies need to find more to cut.
UPDATE: Oil Industry Budget Cuts Adding Up Across the Globe
The list of companies that are slashing millions and sometimes billions from their annual spending programs is growing longer as the ripple effects of a price war and pandemic spread across the globe.
Industry Faces Long Road to Recovery
Leaders of Rystad Energy went online recently to talk about the effects of the coronavirus pandemic on the oil and gas industry, and the prognosis isn’t good.
Global Upstream Industry Moves Into Survival Mode
As the fallout deepens from the coronavirus pandemic and the global collapse in oil and gas prices, oil- and gas-producing regions around the world are feeling the pain.
Halliburton Issues Mandatory Furloughs at Headquarters
The world’s second-largest service firm has seen its share price tumble by 75% as a result of the COVID-19 pandemic and a brutal price war. Workers at Halliburton’s main campus are among the first to feel the impacts.
Facts and Figures: US To Fill Strategic Petroleum Reserves Amid Historic Price War
In its first response to the Russia-Saudi Arabia price war, the US government will purchase up to 78 million bbl of crude to protect domestic producers.
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26 May 2020