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The volatile oil market may trigger the consolidation of resources in the Permian Basin
Time of Update: 2023-03-19
According to industry executives, the recent increase in price volatility will prompt more companies to consolidate, especially in the Permian Basin, the star of shale gas.
According to industry executives, the recent increase in price volatility will prompt more companies to consolidate, especially in the Permian Basin, the star of shale gas.
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Crude oil trading reminder: falling inventories boosted oil prices to recover, wary of blind optimism about the new crown epidemic
Time of Update: 2023-03-19
S. inventory data showed strong consumer demand; However, due to the accelerated transmission of variant strains and the expectation of interest rate hikes by the Federal Reserve, there are downside risks to oil prices.
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The price of refined oil products may end with a "fifteen rise"! Fill a box for an extra $5
Time of Update: 2023-03-17
According to Zhuo Chuang information, as of the close of trading on December 29, the domestic 9th working day reference crude oil change rate was 2.
According to Zhuo Chuang information, as of the close of trading on December 29, the domestic 9th working day reference crude oil change rate was 2.
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OPEC production policy is uncertain, and South Korea's crude imports to the United States have surged
Time of Update: 2023-03-17
South Korea received 113 million barrels of crude oil from the United States between January and November, making the United States the country's second-largest supplier after Saudi Arabia (KSA), KNOC data.
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Market remains optimistic about oil demand International oil prices rose on January 3
Time of Update: 2023-03-17
Phil Flynn, senior market analyst at the US Price Futures Group, said on the 3rd that it seems unlikely that OPEC will change its existing production policy, and is expected to announce on the 4th that it will raise the average daily crude oil production limit of the members of the February production reduction agreement by 400,000 barrels.
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Market concerns about Omicron eased, and oil surged 4% to a new one-month high
Time of Update: 2023-03-17
Oil prices rose after early data showed the new variant could cause milder symptoms.
Oil prices rose after early data showed the new variant could cause milder symptoms.
Oil prices rose after early data showed the new variant could cause milder symptoms.
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Saudi Arabia says the OPEC+ deal is crucial to the stability of the oil market
Time of Update: 2023-03-17
Saudi Arabia's King Salman said the OPEC+ production deal was "critical" to oil market stability and stressed that producers must comply with it, Oil & Gas News reported on December 30.
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How long can crude oil prices hold out, what is the demand outlook for crude oil market in 2022?
Time of Update: 2023-03-17
How long will crude oil prices last?On Thursday (December 23), crude oil prices closed above $73 a barrel for the first time in four weeks, and signs that the omicron variant may be less virulent than previous strains eased concerns about a demand shock; WTI crude futures for New York markets closed up 1.
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EIA inventories fell sharply, and U.S. oil rose for six consecutive days to a new high in more than a month
Time of Update: 2023-03-17
Rob Thummel, portfolio manager at Tortoise, said consumer behaviour related to oil demand had not been affected in any way by concerns about omicron, with falling gasoline, refined and crude inventories interpreted by the market as "bullish oil signals.
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Gravity exploration
Time of Update: 2023-03-17
Different rocks have different densities, when the thickness of this rock layer changes greatly or the undulations of the interface are larger, the corresponding gravity anomalies will be caused on th
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EIA crude oil inventories fell more than expected, refined oil inventories fell sharply, and U.S. oil soared $1.20 in the short term
Time of Update: 2023-03-17
Venezuela has doubled its crude oil production this yearOn December 24, Venezuela's state oil company announced that it had produced more than 1 million barrels per day of oil for the first time in three years, which the country's oil minister, Tarek El Aisami, called a "great victory" in a Christmas speech.
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Traders bet on a recovery in demand, with U.S. crude hitting a more than one-month high above the 76 mark
Time of Update: 2023-03-17
S. crude oil futures and options in the week ended Dec. 21.
S. crude oil futures and options in the week ended Dec. 21.
S. crude oil futures and options in the week ended Dec. 21.
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What is a drilling rig?
Time of Update: 2023-03-17
The drilling rig is composed of diesel engine, drive shaft, mud pump, winch, derrick, crane, swimming sled, large hook, faucet and turntable.
The drilling rig is composed of diesel engine, drive shaft, mud pump, winch, derrick, crane, swimming sled, large hook, faucet and turntable.
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OPEC and non-OPEC producers decided to raise their oil production by an average of 400,000 barrels a day in February
Time of Update: 2023-03-17
In view of the current oil market situation and the consensus on its prospects, the parties reaffirmed the production adjustment plan and monthly production adjustment mechanism approved by the 19th Ministerial Meeting of OPEC and non-OPEC producers, and decided to increase total production by an average of 400,000 barrels per day in February 2022.
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Global energy risks continue to intensify
Time of Update: 2023-03-17
Although high crude oil and natural gas prices have increased the current energy use costs in major countries such as the United States and Europe, the demand for crude oil, natural gas and traditional fossil fuels such as coal in these countries is still increasing in the face of insufficient power supply.
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"Three-pumping equipment" in oil production units
Time of Update: 2023-03-17
Deep well pump oil production device is the most commonly used is the beam type pumping machine - pumping pump device, which includes the pumping machine, the surface part of the pumping well wellhead device and including the pumping rod, pumping pump, tubing and other underground parts, of which the pumping machine, sucker rod, pumping pump is the most important component of this pumping device, that is, the so-called "three pumping equipment".
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South Korean ports: From January 1 next year, ships will be banned from using fuel oil with sulfur content exceeding 0.5%.
Time of Update: 2023-03-17
Article 44 of the Marine Environmental Management Act of the Republic of Korea sets out a consistent position that from January 1, 2022, all ships sailing in Korean ports shall not consume fuel oil with a sulfur content of more than 0.
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The energy transition is driving the oil and gas industry to explore new directions
Time of Update: 2023-03-17
A full implementation of the Industrial Internet can help oil and gas companies optimize operational water use and reduce energy consumption, minimizing their impact on the environment.
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The working principle of electric submersible oil pump oil recovery
Time of Update: 2023-03-17
Electric submersible pump oil production belongs to the rodless pump oil production method, that is, the pumping equipment that does not require a sucker rod to transmit power.
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U.S. crude reversed its longest winning streak since February, but bulls still had the upper hand after demand continued unabated
Time of Update: 2023-03-17
Currently, Omicron cases in the United States are increasing significantly, but judging by the indications shown by the weekly US government report, this does not appear to be hampering fuel consumption and demand for crude oil in the United States.
