OPEC Demand Warning Takes The Wind Out Of Oil’s Sail. Comments from OPEC today may curb the enthusiasm oil prices have enjoyed over the past few weeks. Here’s 5 key take aways from OPEC’s monthly Oil Market Report out today.
7 Oil and Gas Market Themes You Should Be Following. 7 themes coming out of the Hart Energy Oil and Gas Investor Energy Capital Conference in Austin are highlighted by the Drilling info team. [Drillinginfo]
Oilfield Earnings Season Is Upon Us. 1Q earnings season is here again with the industry’s management teams preparing to speak to their investors over the next several weeks. [Oilpro]
Archer Awarded Five-Year Contract By ConocoPhillips. Archer Limited was awarded a five-year contract by ConocoPhillips for the provision of Mechanical Wireline Services for the Norwegian Continental Shelf. [Oilpro]
Iran Launches Talks With Shell. An NIOC official has announced the launch of Iran-Shell talks on supplying oil to the Anglo-Dutch company’s refineries in South Africa. [Mehrnews, Oilpro]
UK’s First Subsea Oil Storage Starts. The UK North Sea’s first use of a subsea oil storage tank has started, independent operator Premier Oil announced this morning. [OEDigital, Oilpro]
JPMorgan Braces For Energy Defaults. The pain isn’t over for the Wall Street banks that financed the oil boom. JPMorgan Chase & Co., which kicked off bank earnings Wednesday, added $529 million to its provision for loan losses on oil, natural gas and gas pipelines, bringing the total set aside to cover souring energy bets to more than $1.3 billion. [Bloomberg]
Trading Houses Predict Cautious Rise In Oil Prices. Oil prices have probably bottomed out and will rise from now on though the recovery will be slow due to a huge stocks overhang, some of the biggest oil trading executives said on Tuesday. [Reuters]
The slump in LNG prices has an upside. Weaker-than-expected demand has hit the once-buoyant liquefied natural gas(LNG) market, but 18-year-low prices have their upside, as the slump is attracting new customers. [CNBC, Oilpro]
Can Liberals Frack? As the Democratic presidential campaign comes to New York, the candidates are competing to dance on the grave of fracking, even though the oil and gas extraction technique of hydraulic fracturing has been banned in the state since 2014. [NYT]
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