OPECs Expectations

Posted: September 17, 2021
Category: News Pulse

RP Weekly Recap | September 11 – 17


The surge of the Delta variant around the globe is set to partially delay oil demand recovery into the next year when robust economic growth and stronger recovery in fuel consumption will see global oil demand averaging 100.8 million barrels per day, exceeding pre-crisis levels. OPEC further raised its 2022 demand forecast by a shocking 900,000 bpd but plans to remain compliant with its proposed output cuts in order to help stabilize prices. With demand returning and commodity prices soaring, experts question how long these cuts will last. Check out 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): 227,248,986 (up from 223,426,353 last week)
  • Number of Cases (USA): 41,823,641 (up from 40,635,669 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 512
  • Up 100.7% 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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