RP Weekly Recap | March 10 – 18
One of the core staples of the past 40 years, and an anchor propping up the dollar’s reserve status, was a global financial system based on the petrodollar. This all may be coming to an end with Saudi Arabia in active talks with Beijing to price some of its oil sales to China in yuan, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 466,658,216 (up from 443,000,936 last week)
- Number of Cases (USA): 79,695,876 (up from 79,232,260 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Biden Bans Imports of Russian Oil, Natural Gas
- EIA Hikes Oil Price Forecast To $105 This Year
- Shale CEOs Meet With U.S. Officials Amid Surging Oil Prices
- California County Rejects Exxon’s Plan To Restart Oil Wells
- EPA Aims to Cut Toxic Emissions From Commercial Trucks
- Frackers Say Bottlenecks Slow Them From Ramping Up as Oil Prices Soar
- Oil Prices Continue To Fall As EIA Reports Crude Inventory Build
- Pine Wave Energy Agrees to Sell Haynesville Assets to Silver Hill
- Whiting, Oasis Petroleum to Combine in $6 Billion ‘Merger of Equals’
- Greylock Steps Out of Appalachia with Large Uinta, Green River Deals
- Texas RRC Implement Operator-led Plan to Reduce Seismicity in Permian Basin
- Colorado Oil Regulator Rejects Occidental’s Plan to Drill Near Homes
Global Market News
- Saudi Arabia Considers Ditching The Dollar For Chinese Oil Sales
- Energy Spending To Hit Record 13% Of Global GDP In 2022
- Oil Prices Crash By 11% As UAE Calls On OPEC To Open The Taps
- OPEC+ Raises Oil Production By Most In 7 Months
- UAE, Saudi Arabia Decline Talks With Biden Amid Oil Price Surge
- Saudi Arabia Reaffirms Commitment To Russia Despite War In Ukraine
- New Lockdowns In China Could Derail Oil Demand Growth
- The Anti-Dollar Axis – Russia and China’s Plans to Evade U.S. Economic Power **MUST READ**
- Economy Adds a Whopping 678,000 Jobs in February, Blowing Past Expectations – the unemployment rate dipped to 3.8%
United States Rig Count
- Up 0 from last week for a total of 663
- Up 62% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A New Basin Breakdown for the month of January is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Last week we looked at blended ethanol to analyze if it made economic or energetic sense to produce. This week’s prime target is “biogas,” an umbrella term that looks to harness the wasted energy of food production and animal husbandry. Check out our latest Periodical to find out more!
- Curious about the U.S. Orphan Oil & Gas Wells Nationwide Elimination Program? Check out our coverage of the topic HERE!
- Episode Seventeen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Cary Stockdell, CEO of Stockdell Stringer Leadership Solutions!
- 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 Hollywood does not understand about a blowout.
- 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 second edition of “Side Chat”.
- 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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