RP Weekly Recap | October 11 – 15
U.S. special climate envoy John Kerry announced this week that 25 more countries have pledged to reduce methane emissions 30% by the end of the decade. While this milestone is certainly momentous, it brings the total attendance at the methane slashing party to a measly 34. But more concerning, this progress has a major asterisk. China, India, Russia, and Brazil, the four largest emitters of methane, haven’t signed on. Be sure to check out this week’s recap of all things happening in oil and gas to find out more!
- Number of Cases (Worldwide): 239,958,362 (up from 237,001,071 last week)
- Number of Cases (USA): 44,848,523 (up from 44,181,197 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- U.S. Households To Spend 50% More On Energy Bills This Winter
- Soaring Energy Prices Raise Concerns About U.S. Inflation, Economy
- California Looks To Ban Gas-Powered Lawnmowers
- Large Crude Build Pours Cold Water On Oil Price Rally
- U.S. Announces Lease Sales for Massive Offshore Wind Expansion
- Energy Crunch Pushes Oil To Longest Weekly Bull Run Since 2015
- Activists Try To Occupy Interior Department In Protest Against Fossil Fuels
- Oil Prices Have Topped $80. But Don’t Expect a Spending Bonanza from Shale Drillers
- White House Asks U.S. Oil and Gas Companie sto Help Lower Fuel Costs
- Diversified Energy Acquires Tapstone in $419 Million Midcontinent Expansion
- SilverBow Snaps Up More Eagle Ford Acreage with $75 Million Acquisition
- U.S. Shale Producer Apache Reaches Flaring Goal Ahead of Schedule
Global Market News
- Over 20 More Countries Vow to Slash Methane Emissions
- China Backpedals On Climate Commitments
- China’s Coal Prices Soar To All-Time High As Floods Shut Down Sixty Mines
- Lebanon Suffers Grid Collapse As Power Plants Run Out Of Fuel
- Australia Is Making The Most Out Of The Coal Boom
- Russia Could Boost Oil Production To 11.4 Million Bpd
- Brent Crude Nears $85 As Global Energy Crisis Worsens
- Middle East Oil Producers Set For $165B Current Account Surpluses
- Gas-Rich Israel Can’t Save Europe From Energy Crisis
- Gas Shortage Prompts Power Plants to Switch to Oil, Boosting Demand
- Saudi Aramco Taps Banks for $12 to $14 Billion Gas Pipeline Loan
- Jobless Claims Dip Below 300,000 for First Time Since the Pandemic Began – the number reflects a steady improvement in the labor market
United States Rig Count
- UP 10 from last week for a total of 543
- Up 92.5% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- The ongoing oil crisis in the US has caused many people to ask why gasoline prices have skyrocketed to record highs despite the fact that the supply of oil available to the market has increased in recent weeks. The simple answer is that a great deal of oil has been shipped from overseas and stockpiled in U.S. ports, but the bottleneck getting the oil from those ports onto land has caused prices to rise anyway as labor bottlenecks transform into supply bottlenecks. Check out our latest periodical HERE to learn more!
- 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 Holywood does not understand about a blowout.
- A New Basin Breakdown for the month of August is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- 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”.
- Sam Gibbs revolutionized the way a rod pumped well would be managed dozens of times over. As a brilliant engineer, mathematician, and disciplined man he worked passionately to change the trajectory of rod pump technology for generations. Find out more in episode seven of Hydrocarbon History!
- 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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