Top Headlines: OPEC+ Has Lots of Dry Powder for Further Cuts
Here are some of Rigzone’s top stories during the last week, just in case you missed them…
OPEC+ Has Lots of Dry Powder for Further Cuts
OPEC+ has lots of dry powder for further cuts if needed, according to Bjarne Schieldrop, a Chief Commodity Analyst at Skandinaviska Enskilda Banken AB (SEB).
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Could the Oil Price Crash in 2023?
A “major pullback” in oil prices is a growing risk, according to Joseph Gatdula, the Head of Oil & Gas Research at BMI.
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North America Rig Count Drops Again
North America cut another seven rigs week on week, according to Baker Hughes’ rotary rig count published on May 5.
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USA EIA Slashes 2023 and 2024 Brent Oil Price Forecasts
The U.S. Energy Information Administration (EIA) cut its Brent spot price average forecasts for 2023 and 2024 in its latest short term energy outlook, which was released on May 9.
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Shale Oil Drilling Getting Cheaper
Bloomberg reported that the cost of drilling for shale oil is dropping for the first time in about two years.
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Canada Oil and Gas Cos React to Wildfires
Several Canadian oil and gas companies have reacted to the recent wildfires.
Read full article here
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