RP Weekly Recap | October 4 – 8
The year is 2014 – Malaysia Airlines Flight 370 disappears, Scotland votes to remain part of the United Kingdom, and oil prices took a steep dive from the low $100 mark to the $45 range. Come 2021, a lot has changed – the world is currently exiting a global pandemic, global supply chains are crippled, but oil prices are surging. In fact, WTI oil prices hit the $80 mark for the first time since 2014 as demand continues to rapidly outpace global supply. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 237,001,071 (up from 233,955,450 last week)
- Number of Cases (USA): 44,181,197 (up from 43,481,064 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- WTI Oil Price Breaks $80 For The First Time Since 2014
- U.S. Gasoline Prices Rise To Highest Level Since October 2014
- EIA Projects Accelerating Renewable Consumption and Steady Liquid Fuels Growth to 2050
- Diamondback Energy’s Viper Closes Swallowtail Royalties Acquisition
- Natural-Gas Shortage Sets Off Scramble Ahead of Winter
- Shell Flags $400 Million Hit from Hurricane Ida to Earnings
- SilverBow Closes $33 Million All-stock Acquisition in Eagle Ford Shale
- Callon Petroleum to Sell Noncore Eagle Ford Acreage for $100 Million
- Comstock Resources Sells Bakken Shale Assets for $154 Million in Cash
- Analysts Warn of Dead DUC Headwinds Ahead for U.S. Shale
Global Market News
- Hyperinflation Could Send Oil Prices Above $180
- Gas Prices In Europe Are Now The Equivalent Of $205 Oil
- PM Johnson Says All UK Electricity Will be Green by 2035
- Japan Restarts Nuclear Power Plants To Slash Emissions
- OPEC+ Raises November Oil Production Quota To 39.7 Million Bpd
- Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd
- Canada Invokes 1977 Pipeline Treaty with U.S. over Line 5 Dispute
- The Global Supply Chain Crisis Could Last Until 2023
- BP Wins Over Greenpeace in North Sea Oil Court Case
- Aramco Mega Deal Boosts Saudi Foreign Investment To Record In Q2
- Saudi Oil Giant Breathes Down Apple’s Neck As World’s Most Valuable Company
- The Energy Transition Will Take Decades Not Years **INTERESTING READ**
- U.S. Shale Patch Struggles to Fill Jobs Fast Enough
- Employers Added a Meager 194,000 Jobs in September as Labor Market Recovery Shows Signs of Stalling – companies say this is the tightest labor market in decades
United States Rig Count
- UP 5 from last week for a total of 533
- Up 98.1% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- It’s no secret that many parts of the world, including South America, are facing severe droughts this year. One of the most affected areas is the country of Brazil and now it’s starting to affect the nation’s power generation and agricultural economy. Check out our latest periodical HERE to learn more!
- 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 uncovering what Holywood does not understand about a blowout.
- A New Basin Breakdown for the month of August is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- 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”.
- 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!
- 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.
- As Always, A New Monday Madness Podcast!
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