Saudi To The Rescue

RP Weekly Recap | March 29 – April 2

Summary

Following hectic trade movements on Thursday, oil prices settled with gains of more than 3% for the day after OPEC+ signaled with its latest oil production decision that it believes in the global oil demand recovery through the summer. According to sources, OPEC+ is considering increasing output by 350,000 barrels per day in May, 350,000 bpd in June and 400,000 bpd in July while Saudi Arabia is preparing to support extending cuts into June and is also ready to prolong its own voluntary cuts to boost prices amid a new wave of coronavirus lockdowns. 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): 129,828,041 (up from 125,698,834 last week)
  • Number of Cases (USA): 30,558,054 (up from 30,096,139 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 13 from last week for a total of 430
  • Down 35.2% from one year ago
  • Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content UpdatesNews PulsePodcast

  • Episode Two 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 talks about the history of London’s notoriously bad air, and how improvements were made using hydrocarbons. 

  • A new episode of the Periodical Podcast is available now! Be sure to check out our conclusion to the series investigating how oil and gas producing states are attempting to fight Biden’s actions on fossil fuel development in the United States this week with the Bakken states of North and South Dakota. 

  • This week’s Periodical investigating how oil and gas producing states are attempting to fight Biden’s actions on fossil fuel development in the United States. To finalize this series, we will be taking it up north to the Bakken States of North and South Dakota to see what kind of ammunition they are using to fight federal regulations.

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

  • 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!


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