When the coronavirus pandemic destroyed global crude oil demand, supply was slow to respond until dramatic actions were taken. Now, with demand picking up at a rapid rate, supply is again being outpaced by its counterpart drawing down crude oil inventories around the world. While global forecasting agencies and oil companies alike predict slow demand growth to pre-pandemic levels, the supply picture will continue to lag behind well into the foreseeable future.
In this episode your host Tavis Kilian talks about relationship dram (domestic and abroad), BP and their tanking value, and California’s sprint towards a green future. Music: https://www.bensound.com/royalty-free-music
This week, California Governor Gavin Newsom announced California will phase out the sale of all gasoline-powered vehicles by 2035 in a bid to lead the U.S. in reducing greenhouse gas emissions by encouraging the state’s drivers to switch to electric cars. As California pushes to phase out hydrocarbons and make the switch to renewable energy sources, they have experienced electricity shortages that have left hundreds of thousands of customers without power. So, how does the state expect to power all the homes AND vehicles in the state within the next 15 years without reliable power?
In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis realize that COVID-19’s impact on the aviation industry has been significant, but highlight the decrease in demand
Alrighty Petroleum People! This is the beginning of a new series that will expand on topics covered in the book “Bits, Bytes, and Barrels” with author Geoffrey Cann and host
COVID-19’s impact on the aviation industry has been significant, but the decrease in demand for jet fuel is a only drop in the crude oil bucket. With the media focusing so much of their attention on jet fuel decimation, market participants are associating this fact to the overall global demand picture. Until the media’s portrayal of oversupply in processed aviation fuels is corrected, the negative demand outlook for the oil industry as a whole cannot be fixed.
In this episode your host Tavis talks about putting jet fuel in boats, how the feds want more bondage, hurricanes and storms that cycle like socks in the dryer, and
Oil Prices Natural Gas Prices Weekly Crude Oil Status Report Weekly Natural Gas Status Report Weekly Petroleum Storage Report Weekly Natural Gas Storage Report Monthly Drilling Productivity Report North American
Join your hosts Kevin Olson and Tavis Kilian as they cover the biggest news in oil and gas for the month of August! Music: https://www.bensound.com/royalty-free-music
The Powder River Basin| August 2020 Field Overview The Powder River Basin, known for its coal deposits, is located in Southeast Montana and Northeast Wyoming. The basin is named so
The DJ/Niobrara Basin| August 2020 Field Overview Located mainly in the Northeast of Colorado, the Denver-Julesburg Basin consists of five main oil-producing formations: Niobrara sections A-C, Codell, and Greenhorn. These
The Bakken Shale| August 2020 Field Overview Named after Henry Bakken, the farmer who owned the land where oil was originally discovered, the Bakken Shale is located in North Dakota,
The Marcellus Shale| August 2020 Field Overview The Marcellus Shale is the largest gas play onshore in the US. Located in the Northeast, it supplies the high demand markets along
The Permian Basin | August 2020 Field Overview Located in West Texas, the Permian Basin has been producing oil for over 100 years. It leads the US in oil production
Eagle Ford Basin | August 2020 Field Overview A heavy shale play, the Eagle Ford basin is located east of the Permian, stretching from Dallas to San Antonio. Primarily a
California | August 2020 Field Overview California, with both onshore and offshore oil production, has been supplying the U.S. with petroleum products since the 19th century. Operations are primarily focused
The SCOOP/STACK Basin | August 2020 Field Overview Ranking 6th in oil production and 3rd in natural gas production, the SCOOP/STACK play is one of the largest fields within the
On September 5th, Saudi Arabia cut its official crude selling price to Asia and U.S. buyers in an attempt to “boost global demand” all while U.S. crude oil inventories are seeing drawdowns at historic rates. In addition, the Russian Oil Minister announced on September 18th that global oil inventories are in decline and yet the world’s main oil forecasting agencies, analysts, and companies are pessimistic about oversupply creating a grim oil demand outlook. Clearly forecasting oil demand in 2020 is becoming a seemingly impossible task and has the world’s best scratching their heads.
In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis uncover a growing disconnect between crude oil prices and the principles that have historically set commodity prices.
As crude oil demand was decimated at the start of the global coronavirus pandemic, storage around the world began to rapidly fill causing commodity prices to tank. The supply and demand imbalance was corrected when producers came together to make global production cuts thus stabilizing prices. When economies began to restart and consumers began to leave their homes, demand started to climb to outpace supply. As storage levels began to fall, prices remained constant but when there was a tiny inventory build at the beginning of September, prices went into a freefall highlighting the growing disconnect between free market principles of supply and demand and emotion driving the actual price of crude oil. Instead of following commodity principles, pricing has become largely influenced by market sentiment.