Forecast

Two of Asia’s leading liquefied natural gas (LNG) suppliers said sales jumped significantly last year despite a pandemic that curbed global energy consumption.  Woodside Petroleum Ltd., Australia’s largest natural gas producer, said its annual LNG sales increased in 2020 year/year to 81.2 million boe from 75.3 million boe. Santos Ltd., the country’s largest domestic gas…

Futures faltered for a fourth-consecutive day Weather outlooks shifted increasingly bearish LNG feed gas volumes were subdued Natural gas futures faltered for a fourth-consecutive day to end the week, with weakened weather demand expectations and lower U.S. export levels overshadowing a government inventory report that showed the steepest withdrawal of the season. The February Nymex…

The extensive oil production declines amid the coronavirus pandemic’s fallout cut deep enough into associated gas supplies to likely help drive up Henry Hub natural gas prices in 2021, according to Raymond James & Associates. “The 2020 oil crash is still likely to drive a massive imbalance in U.S. gas supplies in 2021,” Raymond James…

Energy demand contraction triggered by Covid-19 lockdown measures has drastically reduced U.S. fuel consumption, but a cold winter could boost heating oil consumption as more people continue to work from home, the Organization of the Petroleum Exporting Countries (OPEC) said Tuesday. The oil cartel issued its global winter forecast in the latest Monthly Oil Market…

Despite anticipated increases in productivity per rig across seven key U.S. producing regions, overall oil and gas output from these areas is expected to fall across the board from October to November, according to updated numbers released Tuesday by the Energy Information Administration (EIA). The agency’s latest Drilling Productivity Report (DPR) projects that total natural…

U.S. tight oil production should recover quickly as world energy demand recovers from Covid-19, but Lower 48 output may not again hit its previous forecasts, the Organization of the Petroleum Exporting Countries said Thursday. The Saudi-led oil cartel, aka OPEC, in its flagship 14th annual World Oil Outlook (WOO), cited the “unprecedented scale and impact”…

Production in the Permian Basin will likely decline through the year but then begin to increase through at least 2026, even if prices do not rise significantly, according to analysts. “We see the Permian as a relative winner among domestic basins given favorable production economics, independent of a call on higher commodity prices,” the Morgan…

Shrinking production, growing exports and somewhat colder weather should see this winter’s natural gas prices trend upward compared with last winter, even as the Covid-19 pandemic threatens to hinder demand, according to new projections from the Natural Gas Supply Association (NGSA). Total exports, both by way of liquefied natural gas (LNG) terminals and via pipeline…

The Covid-19 pandemic’s crushing impact to energy demand and prices has led the Organization of the Petroleum Exporting Countries, aka OPEC, to again reduce its forecast for oil into 2020. The International Energy Agency (IEA) on Tuesday also reduced for the second consecutive month its outlook for oil demand. IEA also warned that Covid-19 may…