Look back at oil and gas market hits and misses for the week ending Jan. 15, 2021.
(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.)
On Friday the statistical arm of the U.S. Department of Energy released figures on how dramatically domestic fossil fuel production has changed since the onset of the COVID-19 pandemic. Moreover, it unveiled its projected timeline for a rebound in output. The graphs below from the report highlight the data EIA presented.
SOURCE: U.S. Energy Information Administration,
Monthly Energy Review and
Rigzone panelists share what they will watch for this week in oil markets.
(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.)
Citing the need to curb the spread of COVID-19, government officials have spent much of this year advising the general public to avoid social gatherings and travel. Many Americans will likely continue to follow such guidance during the holidays by not taking road trips or flights to visit family and friends. In fact, the American Automobile Association (AAA) predicted earlier this month that holiday car travel and air travel will drop this year by at least 25 percent and nearly 60 percent, respectively.
Here is a recap of oil and gas market hits and misses for the week ending Dec. 18, 2020.
(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.)
A simple statistic indicates that the energy complex is recovering at a brisk pace, according to one of Rigzone’s regular oil market-watchers. Keep reading to find out which data point supports his assertion, along with additional insights about recent market developments.
Rigzone: What were some market expectations that actually occurred during the past week – and which expectations did not?