Staying Course

Posted: January 7, 2022
Category: News Pulse

RP Weekly Recap | January 3 – 7

Summary

During their first session of 2022, the ministers of OPEC+ countries decided not to stray from their plan for a smooth increase in oil production despite the Omicron variant and forecasts of a surplus on oil markets. Under the plan, participants in the deal will increase their oil production in February by 400,000 BPD to top out at 40.89 million BPD. While the White House praised the group for their decision, many members of the group have been struggling to add as much production as their quotas call for. 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): 301,309,275 (up from 269,006,660 last week)
  • Number of Cases (USA): 58,794,313 (up from 49,775,621 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News


Employment Updates

  • Employers Add 199,000 Jobs in December, Well Below Expectations – the report is a sour note to end an extraordinary year for the labor market

United States Rig Count

  • UP 2 from last week for a total of 588
  • Up 63.3% from one year ago
  • Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content UpdatesNews PulsePodcast

  • The United States oil industry is over a century old, and in that time tens of thousands of wells have been drilled all over the country. Up until recently, there has not been a lot of attention paid to the legislative process that guides what exactly should be done to these wells when their owners decide that they have outlived their usefulness. Curious about this process? Check out our latest Periodical to find out more! 

  • 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. 


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