Is Another Price War On The Horizon?

Posted: April 16, 2021
Category: News Pulse

RP Weekly Recap | April 12 – 16


A price war may be looming in the global oil market as rising output from OPEC+ and the Middle East boosts the competitiveness of the region’s shipments, potentially forcing other suppliers to discount their barrels. The warning signs can be seen in the widening of a key price spread that’s used by traders to determine the affordability of cargoes from the Middle East against Brent-linked barrels. Right now, the gap is close to the widest it has been in more than 16 months, and that doesn’t bode well for oil that’s priced against Brent. Check out this story 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): 139,316,352 (up from 134,200,330 last week)
  • Number of Cases (USA): 31,508,668 (up from 31,023,288 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News

Employment Updates

United States Rig Count

  • Up 7 from last week for a total of 439
  • Down 17.0% from one year ago
  • Statistics courtesy of Baker Hughes


Content UpdatesNews PulsePodcast

  • A NEW Basin Breakdown for the Month of March is available now! Be sure to check out the articles HERE and podcast HERE!

  • Episode Three of our newest segment, Hydrocarbon History is available now! Join us as we explore the history of oil and gas to see what we might learn from the mistakes and successes of others. In the second episode, Tavis explores the historical significance of one of the most beloved energy sources of all time: Whales. 

  • A new episode of the Periodical Podcast is available now! Be sure to check out our discussion as we give an update to our post-COVID global crude oil demand outlook projections taking into account an accelerated global vaccination campaign and a spreading travel bug.

  • This week’s Periodical gives an update to our post-COVID global demand outlook projections. Now that global vaccination rollouts are in full force while a travel bug appears to be sweeping across the planet, how accurate were these previous expectations and what does the remainder of the year look like for global oil demand?

  • Episode Fourteen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Matt Showalter, Executive Chairman at Iron-IQ!

  • Episode 11 (Tackling the Data Monster Pt. 2) of the Modern Mobile Oilfield is available now! This series is a collaborative effort between world renowned author Geoffrey Cann and RP host Tavis Killian that will expand on topics covered in the book “Bits, Bytes, and Barrels”. This new segment is aimed at energy professionals at any level who are looking to better understand the future of a digital oilfield, and potentially implement these technologies into their company’s workflow. Be sure to watch or listen on all available platforms!

Click below to subscribe to the RARE
PETRO Podcast Network or visit

The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the linked sources unless otherwise

Send Us a Message

Rare Petro Logo

1224 Washington Ave,
Suite 10
Golden, CO 80401

(720) 772-7371

Rare Petro Logo


Oil & Gas News Pulse


You have Successfully Subscribed!