Oil closes the week with gains on positive demand outlook
Oil prices are set to close the week with notable gains as the market got a boost from positivity over the speed of the oil demand’s recovery.
Special reports
Oil prices fall on gasoline stocks and AstraZeneca vaccine concerns
Oil prices fell today as a result of a steep rise in gasoline stock levels in the US and concerns over the AstraZeneca vaccine future usage.
Report finds US oilfield services sector gained 23 000 jobs in March
American oilfield services and equipment sector employment rose by an estimated 23 015 jobs in March, according to a report compiled by the Bureau of Labor Statistics and the Energy Workforce & Technology Council.
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Innovating against the grain
In an article from Oilfield Technology's first issue of 2021, Adam Calvin, TETRA Technologies, USA, analyses sand recovery challenges and conventional methods.
A brighter outlook?
In an article from Oilfield Technology's first issue of 2021, Manash Goswami and Artem Abramov, Rystad Energy, explain why US tight oil’s overhaul in 2020 has positioned the industry for robust future performance.
Read Issue 1 2021 of Oilfield Technology for free
Oilfield Technology’s first issue of 2021 begins with a look at US tight oil’s prospects this year, before moving on to cover completions technology, production forecasting, electric fracturing, sand recovery and more.
Oil gains on bullish expectations for coming OPEC+ meeting
Oil prices rose on Wednesday as the market expects OPEC+ to keep a conservative output policy in the following day’s meeting, due to the speed lag of the oil demand recovery.
Oil prices fall on Suez Canal blockade breakthrough and increasing Covid-19 cases
Oil prices fell on Monday as the Suez Canal blockade is getting closer to a resolution and as global Covid-19 infections rose for a fifth consecutive week.
Oil prices rise on Suez Canal blockade
Oil prices rose on Friday as the market re-evaluated the importance and consequences of the Suez Canal blockade and the effect of a prolonged bottleneck.
More Special reports news
Oil prices rise on Suez Canal blockage and European purchases, but lockdowns take toll
Oil prices rose on Wednesday due to a blockage at the Suez Canal, which prevents normal traffic of oil tankers. Positive data in European purchasing manager indices also help, but concerns that heavy lockdowns in Europe will affect the demand recovery still keep prices lower than few weeks ago.
Rystad Energy: drilling activity set for two consecutive years of growth but will lag pre-pandemic levels
Rystad Energy expects around 54 000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels, while in 2022 drilling is set to increase by another 19% year-on-year to about 64 500 wells.
Oilfield Technology spotlight with Varel Energy Solutions and D-Tech Rotary Steerable
In our inaugural Oilfield Technology Spotlight, Deputy Editor Nicholas Woodroof speaks with Duncan McAllister, Application Engineering Manager at Varel Energy Solutions, and Cody Baranowski, Sales Engineer at D-Tech Rotary Steerable.
Oil prices flat on European lockdowns, prices now more sustainable says Rystad Energy
Oil prices started the week largely flat due to renewed lockdowns in Europe but, after last week’s painful correction, levels are now more sustainable.
GlobalData: Morocco moves closer to unlocking domestic gas riches, but funding still hangs in the balance
GlobalData's latest report, Morocco Exploration & Production, reveals that Morocco is on the brink of unlocking its gas potential - even though the country is not a major producer and imports most of its gas.
Oil prices fall further on US crude inventories and AstraZeneca vaccine doubts
Oil prices fell further on Thursday as a result of continuing doubts over the AstraZeneca vaccine and a rise in US crude inventories.