Special reports

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+.

The IEA's Global Energy Review projects that energy demand will fall 6% in 2020 – seven times the decline after the 2008 global financial crisis.

A Rystad Energy analysis shows that global E&P revenues are now forecasted to fall by about US$1 trillion in 2020, a drop of 40% to US$1.47 trillion from last year’s US$2.47 trillion.

The oil price has reversed morning losses and now enjoys limited gains.

Oil prices have declined for a second day on storage concerns.

OGUK has warned that up to 30 000 jobs could be lost in the sector as it called for the transition to net zero to be put at the heart of recovery plans.

The Oil and Gas Authority’s (OGA) new Wells Strategy report highlights how well intervention activity is set to increase.

Rystad Energy expects total 2020 Canadian upstream spending to fall below CAN$21 billion.