European Gas Crisis

Posted: September 24, 2021
Category: News Pulse

RP Weekly Recap | September 20 – 24


Just two days into the fall season and fears of a European gas crisis are palpable. Global gas prices are higher than they have been during any non-winter month since they went crashing down from their peak in June 2008, but European countries have been the hardest hit. Natural gas prices for the EU are up 440% from one year ago. Unfortunately, in a globalized world, energy crunches can hardly remain regionally contained for very long, especially in a context of damaged supply chains and a rush to cut investment in fossil fuels. Do the events unfolding overseas have global implications? Find out in these stories and more in this week’s recap of all things happening in oil and gas!

COVID-19 Updates

COVID-19 Statistics

  • Number of Cases (Worldwide): 230,821,219 (up from 2237, 248, 986 last week)
  • Number of Cases (USA): 42,698,318 (up from 41,823,641 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News

Employment Updates

  • In a sign of the labor market’s recovery from the depths of the pandemic, jobless claims fell to a nearly 18-month low of 310,000. The data implies that slower job growth is being limited by a shortage of workers, not a lack of demand for them.

United States Rig Count

  • UP 9 from last week for a total of 521
  • Up 99.6% from one year ago
  • Statistics courtesy of Baker Hughes


Content UpdatesNews PulsePodcast

  • RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the first “Side Chat”

  • If you’ve found yourself paying more than usual at the pump lately, you’re not alone. The cost of gasoline in the United States continues to reach all-time highs, and though prices are still lower than they were when gas hit $4 per gallon in 2008, consumers are beginning to wonder if the price will continue to rise or fall, or if it will settle somewhere in between. So what makes gas prices so high? Let’s take a look at some of the factors that can affect prices so drastically in this week’s Periodical

  • Sam Gibbs revolutionized the way a rod pumped well would be managed dozens of times over. As a brilliant engineer, mathematician, and disciplined man he worked passionately to change the trajectory of rod pump technology for generations. Find out more in episode seven of Hydrocarbon History!

  • RARE PETRO is the tik talk of the town! Short-form content to educate both the public or industry professionals is available NOW! Check out our latest Tik Tok Video diving into what a hydrocarbon reservoir really is.  

  • Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round. 

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