The oil majors are posting their best quarterly figures in years, an indication that they are adapting to the new price environment. After several years of spending cuts and rising debt, the largest integrated oil companies have turned a corner.
OPEC has changed not only fundamental dynamics of the oil market, but the entire narrative: There’s very little, if any, talk about “lower for longer”—the issues currently rattling the market are not going away any time soon.
In the shale patch, rig productivity is falling, companies are no longer making headway on drilling times, and cash flow continues to disappoint investors.
Saudi Arabia is poised to make "unprecedented" cuts to customers next month, while OPEC's secretary-general suggests the cartel may take "extraordinary measures" to further tighten oil market fundamentals.
The head of SAFE's policy team talks to Platts about OPEC’s policies distorting the investment cycle, the limitation of shale to meet demand growth, and why a small reduction in oil supply can sharply increase prices.
WoodMac sees Permian production peaking at 3.5 million barrels per day in 2021, but that forecast stands in sharp contrast to other estimates pointing to robust growth for the foreseeable future.
OPEC is trying to spin recent price developments to show that it is fostering market stability in an effort to assist both consumers and producers. But recent talk of a more balanced market creates a false narrative
The spread between benchmarks Brent and WTI has widened recently, a reflection of a sharp increase in U.S. shale production this year at a time when OPEC is cutting back.
Ed Hirs, an energy economist from the University of Houston, talks to The Fuse about the dangers of oil supply disruptions and OPEC's impact on shale.
The current stability is relatively rare for the oil market, which is prone to rampant volatility for numerous reasons. When the market eventually breaks out, it could do so aggressively.