RP Weekly Recap | November 15 – 19
While the economy may be bouncing back, Thanksgiving travel is not. In its 2021 Annual Thanksgiving Travel Survey, GasBuddy revealed that a mere 32% of Americans plan to travel for Thanksgiving this year, a decline from 35% last year during the pandemic that dwarfed in comparison to some 65% that planned to hit the road for Thanksgiving in 2019. With the national average price of gasoline projected to decline to $3.35 per gallon on Thanksgiving Day, amongst the highest seen in over seven years, there remains a chance that gas prices could potentially beat 2012’s record for most expensive national average ever for the date: $3.44 per gallon. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 256,395,565 (up from 252,181,189 last week)
- Number of Cases (USA): 47,539,865 (up from 46,872,659 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Denver Natural Gas Producer Jonah Energy Honored by United Nations Group Over Methane Emissions Reduction
- Biden Asks FTC To Investigate Oil and Gas Companies
- Fewer Americans To Hit The Roads On Thanksgiving As Gasoline Prices Near Record
- U.S. Natural Gas Prices Could Soon Hit $6
- The U.S. Shale Patch Is Back In Growth Mode
- Resurgent Oil Supply Expected to Soothe Tight Market
- Largest Offshore Drilling Auction In U.S. History Kicks Off With $192M In Bids
- EnCap Flatrock’s Ironwood, Nuevo Midstream Combine Eagle Ford Assets
- Northern Oil & Gas to Add Veritas Permian Assets in Largest Acquisition To Date
- Is The U.S. Shale Patch Refusing To Pump For Political Reasons?
- Oil Inches Higher After EIA Reports Surprise Crude Draw
- Rising Natural-Gas Prices Pose Hurdle for Methane Tax
- How A Biden SPR Release Will Send Oil Prices Even Higher In 2022 **MUST READ**
Global Market News
- Shell Moves To UK, Drops ‘Royal Dutch’ In Share Structure Overhaul
- Good COP, Bad COP? Takeaways From The New UN Climate Deal
- COP26 Ends Without Deal To Phase Out Coal
- Crypto Miners Are Worsening Kazakhstan’s Energy Crisis
- Chinese Coal Production Jumps To Six-Year High In October
- German Regulator Puts Brake On Nord Stream 2 In Fresh Blow To Gas Pipeline
- OPEC+ Pumped Less Oil Than Agreed In October
- Jobless Claims Held Steady Last Week – the labor market is trending back to normal following the effects of the coronavirus pandemic
United States Rig Count
- UP 7 from last week for a total of 563
- Up 81.6% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- The White House Office of Domestic Climate Policy has just released its U.S. Methane Emissions Reduction Action Plan, laying out several steps that can be taken to reduce the amount of methane leaked from oil and gas wells and pipelines. Operators, midstream, and utility companies alike will be affected by these rules, so here is what they all must know about the Action Plan.
- Today, gas prices are at their highest since 2014, with the national average for regular grade currently sitting at $3.413 per gallon. But why? Why are we paying so much more than we were just one or two years ago? Why does gasoline cost so much? You can blame it on high oil prices or increased demand, but understanding where our gas comes from requires an understanding of the entire manufacturing process, which begins long before it reaches your local pump. Find out more HERE!
- 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 how oil saved the whales!
- 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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