Discover and read the best of Twitter Threads about #shale

Most recents (11)

Thread on #OPEC and OPEC+ meetings today:
(Media: please feel free to quote)

1- What is the importance of this meeting? 1-

First, Deepening the production cuts from what was previously agreed upon for the month of July, which would accelerate the rebalancing of the markets
2- Second, the unprecedented focus on the commitment of all members & the establishment of a monthly monitoring system for the production of member states & the #oil market. This means that the possibility of a monthly renewal of the agreement exists if there is a need for it.
3- Third, establishing a new system used for the first time by OPEC: reduction of future production quota if countries violate their current quota. This system has been historically adopted by world commodity organizations such as the Tin, Bauxite a& Coffee organizations.
Read 11 tweets
My take on the week that was, and what’s next. #OOTT #EFT #shale #OilPrice #crudeoil #OPEC

When oil became waste: a week of turmoil for crude, and more pain to come reut.rs/2xYTiFz
So a bit more on this. A lot right now rests on what happens next, both in terms of various economic regions trying to recover a bit and find ways to do a bit more business - and whether that's possible. #OOTT #OPEC
After all it's not often you see a nation like Azerbaijan tell a BP-led consortium that yes, you have to stop producing. Usually the big oil companies are exempt from this sort of thing. #OOTT #OPEC

Not anymore. @dmitryZ_reuters
Read 38 tweets
Lets talk about #Oil and why the price of the #US benchmark #WTI West Texas Intermediate has turned negative FOR THE FIRST TIME EVER...
Some of you are waking up to what might read or sound like another disaster. Just when you were learning how to deal with #COVID19, you hear about a so called plunge in the #Price of #Oil. But what does it mean to have oil in negative territory & why is that the case? Lets see...
In the main we will talk a bit about simple matters of #supply & #demand while touching on the #future as far as #consumer outlooks & #perception / #confidence are concerned. I would like us to start in 2016, a quick recap...what happened to #Oil?
Read 20 tweets
#WTI #CrudeOil futures for May,expiring tomorrow,tanked 57%,to $7.98 per barrel

June contract,expiring on 19thMay, traded@ $26.62/barrel

July futures,traded@ $28/barrel

And all this,despite #OPEC's decision to cut supply by 9.7 million barrels a day,wef 1st May2020

#OilCrash
Normally,spread between #Spot &one month forward contract,is 40-50 cents

This time,spread is $10-12,implying weakness in #crudeoil,will continue

Global demand for #Oil in April 2020,was lower by 29 million barrels per day,Vs April 2019

#COVIDー19&global #lockdown, playing out
Indian #Crude basket is a derived basket of #crudeoil comprising #sourcrude(Dubai&Oman)&sweet crude(Brent)

Indian basket,aligned to #Brent crude,has fallen too,but not as much as #WTI crude

April 2020 #Brent@$20.92 per barrel March $32.01
Feb $55.70
Jan 2020@ $63.83

#OilCrash
Read 16 tweets
THREAD: Since March 9, when oil prices started plunging, my team and I have been compiling data on the budget cuts announced by N.American E&Ps.
They have cut more than 28% of their 2020 capex. See below for list:
Compiled by @arooneyma @shanti_2594 and @Arundhati_05
These include only the ones that have given hard numbers. Some others have said they will cut, but did not provide specific details.
Oil major @exxonmobil $XOM on Monday said it will make "significant" cuts to spending, but did not provide details. Rival @Chevron $CVX said it was looking at ways to trim spending that could lead to lower near-term oil production
Read 10 tweets
OPEC was formed in the 1970s and the cartel could control prices - because the global economy runs on oil, and bulk of the reserves were in the Middle East.

They figured out, Oil Demand is inelastic. People have to buy no matter what price. It’s the most dense form of energy.
Price Elasticity if Demand in the short run was 8x.

1% cut in Oil production would lead to 8% rise in price.

But if prices are too high, then people start saving energy and demand falls.
Read 37 tweets
Lets talk about #Oil and #Inflation and whether the relationship is #Linear or #NonLinear...
We have all been witness to the recent volatility in the #Global #Oil markets. We have seen how disruptions in oil #Supply, be it from #SaudiArabia, #Nigeria, #Venezuela, #Iran or #Libya can cause upticks in the global #Price of oil...
On the same token, we are aware how muted #oil #demand can arise from a slow down in #global #growth. For e.g. a persistent slowdown in #China often translates into a softening of global oil prices. Similarly, high #inventories & the impact of #US #shale drives down prices...
Read 9 tweets
1/13 On oil & oil equity prices:

So why does oil and oil equities underperform the S&P and NASDAQ in 2019 by a wide margin? #OOTT #brent #WTI #oilprice
2/13 As shown by Crescat Capital, this is a growth/ETF/momentum market which left commodities at 50 year relative historical lows! @crescatkevin @TaviCosta
3/13 So how do oil prices format?

Short term, spot prices #trade around inventory levels.

However, it is hard for #Brent and oil equities to go up on declining inventories while demand/macro weakens (macro outlook uncertain). #OOTT #WTI @HFI_Research
Read 13 tweets
FRIDAY MORNING IN ENERGY: And I’d like to talk energy, but really, I’ve got to talk trade first after we’ve got new tariffs coming, a lot of research notes, and very nervous markets… #OOTT #tradewar #China #trade
… as always you can follow our coverage here on Reuters.com. Our lead story right now is, the US escalated the trade war with more tariffs after the Chinese made major changes in the agreement that blew everything up earlier in the week.

reuters.com/article/us-usa…
Trump has said he’s in no rush to complete the deal. So we’ve got that going for us. #trade #china Ttradewar

reuters.com/article/us-usa…
Read 26 tweets
Thread
Comments by Paal Kibsgaard, Schlumberger Chairman & CEO
1- "Still, the well-established market consensus that the #Permian can continue to provide 1.5 million barrels per day of annual production growth for the foreseeable future is now starting to be called into question"
2- "In fact, so far in the third quarter, the hydraulic fracturing market has already softened significantly more than we expected in spite of the overall rig count holding up relatively well."
3- "Still, what is already clear is that unit well performance, normalized for lateral length and pounds of proppant pumped, is dropping in the Eagle Ford as the percentage of child wells continues to increase."

#Oil #Permian #EagleFord #shale
Read 13 tweets
THREAD: 1/ Alberta's Economy - How we got to now. #ableg #abgov #Alberta
2/ Forget your idealizations about Peter Lougheed. He was a great man. This story begins in the late 1990's with the Federal Liberals under Jean Chretien and his Minister of Natural Resources, Anne Mclennan. en.wikipedia.org/wiki/Anne_McLe…
3/ Anne Mclellan (@DalChancellor) likely had a greater impact on the trajectory of Alberta's Economic prosperity than any other politician in history. OK, maybe we'll place her next to Saint Ralph Klein, God Rest His Soul.
Read 41 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!