An abrupt drop in demand unlike any seen before has left the oil and gas industry “in unknown territory,” likely dashing the prospect of a quick recovery from the coronavirus pandemic and a global price war, analytics firm Enverus says in a new report. In the report, “The Dark Side of the Boom,” released Tuesday, Enverus, which provides data and intelligence to energy companies, has forecast an average price of $23 a barrel of oil for 2020.
No Quick Rebound In Sight For Colorado’s Oil, Gas Industry From Turmoil Of Coronavirus Pandemic, Report Says
Judith Kohler, Denver Post: Business
Thu, 04/09/2020 - 5:00am
Topics: the dark side boom west texas intermediate bernadette johnson colorado u.s energy information administration s denver-julesburg basin extraction oil gas and denver-based liberty oilfield services disagreements baker hughes erika coombs btu analytic because the american exploration production council occidental petroleum s for occidental the d-j basin if related articles drilling occidental midstream ryan smith east daley capital advisors gulf coast okla cushing enverus the in johnson johnson u.s denver-julesburg basin front range denver-based whiting petroleum occidental petroleum noble energy related saudi arabia russia march coombs anadarko it we quick report coronavirus pandemic prices price demand companies storage barrel market rigs start world producers major pay recovery plans week drop wells hours big barrels million number crude significantly company debt analytics war year average prospect early released months day worldwide country cuts regions employees bankruptcy added laid operators shut run store largest
BING NEWS:
- IEA slashes oil demand outlook amid the end of the post-pandemic rebound and expanding EV adoption
With the COVID-19 recovery having run its course, the IEA projects a further slowdown in oil demand expansion to 1.1 million barrels a day in 2025, with most non-OPEC countries driving supply growth ...
04/15/2024 - 7:51 am | View Link - More
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