Rising Tensions

RP Weekly Recap | February 22 – 26

Summary

On the precipice of another historic meeting between the Organization of the Petroleum Exporting Countries and their allies (OPEC+), leaders will discuss the possibility of increasing oil production levels. Since many countries in the group are dependent on oil revenues, some are wary of another price crash while others are concerned about the wellbeing of their country. Nonetheless, tensions are high and sideline members including the United States have attempted to intervene. 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): 113,207,169 (up from 110,498,364 last week)
  • Number of Cases (USA): 28,423,994 (up from 27,908,859 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 5 from last week for a total of 402
  • Down 49.1% from one year ago
  • Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content UpdatesNews PulsePodcast

  • Episode 10 (Tackling the Data Monster Pt. 1) from our newest segment, 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!

  • A NEW Basin Breakdown for the Month of January, and the first Basin Breakdown of 2021, is available now! Be sure to check out the articles HERE and podcast HERE!

  • A new episode of the Periodical Podcast is available now! Be sure to check out our discussion covering the ongoing battle between the Biden Administration and the Governor of Oklahoma over federal leasing regulations and Oklahoma’s right to produce their natural resources.    

  • This week’s Periodical covers President Joe Biden’s executive order to indefinitely ban lease sales for oil and gas development on all federal lands and offshore waters and why Oklahoma’s Governor is going to bat for his state. While there is no certainty Oklahoma will be able to ignore or become exempt from Biden’s executive order, they can certainly let policy makers in Washington, D.C. know the problems that the new restrictions will cause.

  • Episode Twelve of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Founder and CEO of Ethical Energy, Deb Ryan!


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