Oil

Oil
Monday, March 18, 2024
Tiny improvement in domestic shale production, as drilled-but-uncompleted wells continue to disappear. 
Oil
Monday, February 12, 2024
The harsh winter weather in the oil patch put a dent in January production.
Oil
Tuesday, January 16, 2024
It's not quite a new high for US production (that was September and October), but it's close. That said, on our crazy "snake chart," it's a new foray into the upper-left quadrant of maximum productivity, as rig counts fall.
Oil
Monday, December 18, 2023
Frackers are producing at a record rate, almost 10 million barrels per day. Astonishingly, they are doing it with about a third of the rigs they were deploying a decade ago. It's truly a productivity miracle. 
Oil
Monday, November 13, 2023
The rollover in Permian shale production has been revised away -- now a new all-time high. And with that, overall US crude production repeats last month's historic high at 13.2 million barrels/day.
Oil
Monday, October 16, 2023
US crude production is back at all-time highs above 13 million barrels per day. Imagine what we could do if we didn't have restrictive exploration, production and transport policies. And... new charts on page 6 tracking the critical role of discounting and shipping Russian crude.
Oil
Tuesday, September 19, 2023
An almost imperceptible uptick in total rigs, while shale production continues to fall. Maybe we're just beginning to see the first tentative effects of higher global prices.
Oil
Monday, August 14, 2023
Months of low prices continue to take their toll on drilling and production. If WTI back above $80 is going to make a difference, it will take a month or two to show up here. 
Oil
Monday, July 17, 2023
As we reluctantly predicted, as rig counts fall so does US production. It's rare to see a month-on-month drop in production in the mighty Permian, but that's what we got in June. Blame persistent unexpected low prices.
Oil
Monday, June 12, 2023
The frackers eke out another new all-time high in total production at 9.32 million barrels per day. Rig count falls -- so for now, that's pure productivity. But we have to fear this production cycle may have begun to peak when rigs peaked in November.

Pages