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Traders Ask Why US Inventory Math Does Not Add Up

Traders Ask Why US Inventory Math Does Not Add Up
Thursday June 04, 2020 - Oil traders and analysts scrutinizing U.S. inventory data for signs of a market recovery are being confronted by an odd situation.
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Industry Headlines

Texas Energy Extern Training Goes Virtual Share your comments
Thursday, June 04, 2020The above screenshot shows some of this year's IPAA/PESA Energy Education Center Extern Program participants. IMAGE SOURCE: IPAA

Modglin to Lead Texas Energy Group Share your comments
Thursday, June 04, 2020The Texas Alliance of Energy Producers has hired Jason Modglin as the Austin-based organization's new president.

Orphan Well Stimulus Would Employ Displaced Workers Share your comments
Thursday, June 04, 2020Proponent says it would put thousands back to work plugging wells and restoring land.

Traders Ask Why US Inventory Math Does Not Add Up Share your comments
Thursday, June 04, 2020Oil traders and analysts scrutinizing U.S. inventory data for signs of a market recovery are being confronted by an odd situation.

OPEC+ Deal Threatened Share your comments
Thursday, June 04, 2020The deal to extend the cuts that saved the markets from self-destruction has been threatened.

Oil Down on OPEC+ Discord and US Demand Data Share your comments
Thursday, June 04, 2020Oil retreated as OPEC+ unity was threatened by a long-running feud over complying with production cutbacks, while U.S. data cast doubt on the strength of the demand recovery.


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Most Popular Articles

Exploration

Melbana Energy Gets Extension on Beehive Prospect Share your comments
Monday, June 01, 2020The company will use the extra time to pursue drilling partners.

Study Shows New Offshore Canada Oil Presence Share your comments
Friday, May 29, 2020A detailed evaluation of the Southern Grand Banks petroleum system offshore Atlantic Canada has identified a new oil presence, Applied Petroleum Technology reported.

NOCs to Slash Exploration Budgets by Over a Quarter Share your comments
Thursday, May 21, 2020National oil companies around the world will slash their exploration budgets by over a quarter on average in 2020, Wood Mackenzie estimates.

PGS to Acquire 3 New Surveys in Eastern Canada Share your comments
Thursday, May 21, 2020PGS has revealed that it will acquire three new seismic surveys in Eastern Canada this year.

Permian Rig Count Losses Stay in Double Digits Share your comments
Monday, May 18, 2020Year on year, the US rig count is down 648 rigs from last year's 987.

Shearwater Bags North Sea Seismic Deal with Apache Share your comments
Monday, May 18, 2020Shearwater GeoServices revealed Monday that Apache Corporation has awarded the company a 4D seismic survey with 3D extension over the Forties Field in the UK North Sea.


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Production

Siemens Lands Contract Work for Petronas' Kasawari Gas Project Share your comments
Thursday, June 04, 2020Once in production, the field will produce up to 900 million cubic feet per day of gas.

KrisEnergy Suspends Oil field and Cuts Staff Share your comments
Thursday, June 04, 2020KrisEnergy revealed Wednesday that production at its operated Wassana oil field in Thailand has been suspended until further notice.

Global Gas Market Still Extraordinarily Oversupplied Share your comments
Wednesday, June 03, 2020Unlike the oil market, there's been no sign of a coordinated response to address the gas glut.

Shale Oil Production Bouncing Back With Prices Share your comments
Tuesday, June 02, 2020Early signs of a shale rebound are becoming evident as crude prices recover.

OPEC+ to Discuss Production Cut Extension Share your comments
Monday, June 01, 2020OPEC+ is set to discuss a short extension of its current output cuts, according to a delegate.

Saudi Oil Volumes to China Continue Despite Output Cuts Share your comments
Friday, May 29, 2020Historic production cuts have done little to squelch the kingdom's flood of oil to China.


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Finance and Investing

Prosafe Gets Extension on Forbearance Agreement Share your comments
Thursday, June 04, 2020The extension is through the end of June.

Pioneer Energy Emerges From Chapter 11 Share your comments
Wednesday, June 03, 2020The restructuring slashed the company's debt by about $267 million.

Unit Corp. Reorganizing Through Bankruptcy Share your comments
Wednesday, May 27, 2020The move should reduce the company's debt obligations by more than $650 million.

BW Offshore Records $233MM Impairment for 1Q Share your comments
Wednesday, May 27, 2020The impairment reflects uncertainty on FPSO redeployment in the current market turmoil.

Shale Faces Multibillion-Dollar Hedging Crunch Share your comments
Thursday, May 21, 2020U.S. shale drillers spooked by the epic meltdown in oil markets are trying to figure out how to protect themselves in the future.

Gavilan is Latest Shale Player Pursuing Bankruptcy Share your comments
Tuesday, May 19, 2020The Eagle Ford firm pointed to market turmoil and ongoing squabbles with Sanchez Energy as filing factors.


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Company Operations

$180MM in Contracts Go to Sapura Share your comments
Thursday, June 04, 2020The photo above shows the vessel Sapura 3000 pipe laying vessel. PHOTO SOURCE: Sapura Energy Berhad

Cooksen Joins Targa Board Share your comments
Wednesday, June 03, 2020Targa Resources Corp. has elected Lindsey M. Cooksen to its board of directors, increasing the size of its board from 11 to 12 members.

Simmons Edeco Completes Onshore Mexico Campaign Share your comments
Wednesday, June 03, 2020Simmons Edeco has completed its first drilling contract for Mexico oil and gas operator Newpek. PHOTO SOURCE: Simmons Edeco

Petrobras Divesting Partial Stake in Espírito Santo Basin Share your comments
Wednesday, June 03, 2020The concessions are strategically positioned in relation to key post-salt discoveries.

McDermott Divests Pipe Fabrication Business Share your comments
Wednesday, June 03, 2020Ithaca Acquisition Holdings has completed its acquisition of the former pipe fabrication assets of The Shaw Group from McDermott International, Inc.

BP Southern Africa Appoints New CEO Share your comments
Wednesday, June 03, 2020BP Southern Africa has appointed Taelo Mojapelo as its new chief executive officer.


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