What Happens to Oil in a 2nd Covid Wave?

What Happens to Oil in a 2nd Covid Wave?
Here are some of Rigzone's top stories during the last week, just in case you missed them...

Here are some of Rigzone's top stories during the last week, just in case you missed them…

The Effects of a 2nd Covid Wave on Oil 

Oil demand in 2020 could lose an additional 2.5 million barrels per day in a second Covid-19 wave scenario, according to Rystad Energy. Demand would also recover much slower in 2021 if a second wave materializes, Rystad highlighted.

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Baker Hughes Rig Count Shows US Decrease

The U.S. rotary rig count decreased again, Baker Hughes Co. reported. Based on the latest figure, 263 rigs are operating in the U.S., which marks a 700-rig decrease from the 963-rig figure a year ago, Baker Hughes data shows.

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$40 Could Be Magic Number for Some Oil Players

A $40 per barrel level for WTI crude oil could trigger an uptick in activity among some oil market players, according to an informed market-watcher.

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Saudis Raise Oil Pricing to US and Asia

Bloomberg reported that Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing to recover.

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7 Killed in BRVS Explosion

An explosion occurred at the Gbetiokun field in OML 40, the Nigerian National Petroleum Corporation (NNPC) confirmed. The incident happened at the field during the installation of a ladder on the Benin River Valve Station (BRVS), according to the NNPC.

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Who is the Most Admired Upstream Explorer?

According to Wood Mackenzie’s latest annual exploration survey, it’s Total.

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Here’s What’s Coming

Keep an eye out for these articles on Rigzone later today…

  • Weatherford Secures Four-year Eni Contract
  • FPSO Attack Bolsters Piracy Hotspot Reputation
  • Golar and Galileo to Boost LNG Access in Brazil

To contact the author, email andreas.exarheas@rigzone.com


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