US Permian Basin oil production — and profits — have surged
Production in the oil-and-gas-rich Permian Basin hits records recently, juicing oil company profits and easing energy supply worries.
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Entries by Breakthrough Investment Group
Texas energy expected to be key in meeting global demand
TIPRO president said that global production will continue to rise and the Permian Basin will play a critical role in meeting energy demand.
OPEC Is Betting Big On Robust Oil Demand Recovery
Last week’s surprise decision from OPEC+ to ease the production cuts by a cumulative 2 million barrels per day (bpd) by July relies on expectations of robust oil demand recovery in the second quarter. Yet, recent demand concerns suggest the alliance’s supply management policies could once again be more in the realm of guestimates. The […]
Another Investment Bank Is Betting On $100 Oil
Crude oil could hit $100 and top it, and this could happen before this year’s end, according to Craig Johnson from investment bank Piper Sandler. Speaking to CNBC, Johnson said, “I could actually see a number that could be north of 100 in the next, say, six to … 12 months from here,” noting the […]
With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says
Natural gas liquids (NGLs), a byproduct of oil and gas production, could benefit from global demand and supply disruptions in 2021, paving a path for rising prices as the year wears on, analysts at Raymond James & Associates Inc. said in a new forecast. “We still think U.S. NGLs have a pretty bullish set-up, similar […]
EIA Raises 2021 Natural Gas Price Forecast to $3.14, Up Nearly 20 Cents After Record February Withdrawal
In the wake of last month’s record-high natural gas prices in the physical market, the Energy Information Administration (EIA) is raising its projected 2021 Henry Hub spot price average to $3.14/MMBtu. The updated projection, issued on Tuesday as part of the agency’s latest Short-Term Energy Outlook (STEO), is nearly 20 cents higher than the $2.95 […]
