Oil continues to see gains trimmed
On Thursday morning oil prices continued to see their earlier gains trimmed further for a second day, as the global oversupply persists despite the cuts that are already in place.
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On Thursday morning oil prices continued to see their earlier gains trimmed further for a second day, as the global oversupply persists despite the cuts that are already in place.
Oil prices stopped rising on Wednesday as the market started realising that crude storages continue to fill, after days of prolonged gains.
Dr Ming Yang, TÜV SÜD National Engineering Laboratory, considers the advancement of online oil-in-water monitoring technologies.
The OGA has said that the North Sea oil and gas industry should go considerably faster and farther in reducing its own carbon footprint, or risk losing its social licence to operate.
Oil prices rose on Tuesday as lockdowns start to ease globally and traffic fuel consumption, among the main reasons demand has fallen, increases.
Michael Konopczynski and Mojtaba Moradi, Tendeka, UK, discuss how flow control can be optimised with an autonomous outflow control device.
Rystad Energy estimates that the downcycle in the upstream industry will remove about 6 million bpd from production forecasts for 2025.
Oil prices fell on Monday, despite the OPEC+ cuts.
Rystad has warned however that stock build will still overwhelm remaining global storage, which will fill in weeks.
Louise Bancroft, Group HR Director at Airswift, has commented on the UK's furlough scheme, focusing on the oil and gas sector, and how companies should best prepare for the upturn.
Norway has announced cuts to oil production between June and December this year.
Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, has said that Norway's decision to cut production could be a good example for other producers outside OPEC+.