WTRG Economics Rig Count
                      and Energy Forecasts

Analysis, planning, forecast and data services for energy producers and consumers.
Rig Count News July 3, 2020  Rigs were down for the seventeenth week in a row. U.S. rig count  was down 2. Rigs targeting oil were down 3 and gas rigs were up 1. Canadian rig count was up 5. Oil drilling was up 2 and gas drilling was higher by 3. International rig count for May is down 110. Follow the link for detailed tables and graphs.
Oil Futures Price Goes Negative Excerpts from our Energy Economist newsletter looking at the first time in history that oil futures closed with a negative price: "I'll pay you $40 per barrel if you take my crude -  April 21, 2020."
Subscribe to WTRG's Energy Economist Newsletter - In-depth analysis, information and forecasts. In addition to OPEC and crude oil prices, gasoline and natural gas prices, topics include regional, national and international exploration, production and consumption. Details and subscription information.
Energy Blog:
Coal, CO2 and Limitations of Energy Policy

Oil Price History and Analysis - 1869 - 2011. This history of oil prices has 152 years of oil prices and the economic and political events that shaped the price: wars, economy, domestic policy, embargoes, OPEC and price controls.
Measures of Petroleum Dependence and Vulnerability in OECD Countries Examines energy security, petroleum dependence, and petroleum vulnerability of the major consuming countries.  Originally published in Middle East Economic Survey
The Coming Energy Crisis? Parallels with earlier energy crises underscore US vulnerability to oil supply shocks today. This summary of our research appeared in the Oil and Gas Journal the first in a series on Global Energy Security. 

Venezuela Once again a nation in crisis, possibly facing civil war with dire implications for oil prices.
OPEC Issues and Analysis: Articles written over several years analyzing the decisions faced by the Organization of Petroleum Exporting Countries.
National Energy Policy - The report to the President.
Links to oil, gas and general energy news and information
About WTRG Economics.Our products and services
Projects A brief list of some of the projects done by WTRG and its associates.
Crude Oil, Gasoline and Natural Gas Futures Prices

NYMEX Prices for July 2, 2020
NYMEX Light Sweet Crude
+0.83
$40.65
ICE Brent
+1.11
$43.14
RBOB Gasoline NY Harbor
+0.0423
$1.2592
Heating Oil NY Harbor
+0.0315
$1.2311
NYMEX Natural Gas
+0.063
$1.734
 
Links to Oil, Gas, Energy Prices, News & Issues:
Crude Oil and Natural Gas Rig Count: U.S. --2, Canada +5, International -110
Light Crude Settles Above $40
Oil Stockpiles Fall More Than Expected, Down 7.2M Barrels: EIA
Venezuela's oil exports sank in June to 77-year low: data
OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand
Oil barrels come off the water as storage boom at sea fades
Half-year discoveries total 4.9 billion boe, lowest of the century
API data show weekly U.S. crude supplies down by more  than 8 million barrels
Libyan oil output could resume on U.S.-backed negotiations
Norway sets oil export records as OPEC+ cuts leave a void in the market
Oil Prices Rebound Amid Positive Economic Data
Third-largest oil market projects faster recovery than OPEC’s estimates
Chesapeake Energy files for bankruptcy
Oil refiners adapt to post-lockdown shift to gasoline from diesel
Iran explosion in area with sensitive military site caused by tank leak
Oil Business Activity Index Sinks to Historic Low
Civil war’s end won’t be enough to revive Libyan oil production
US Shale Has a Long Road to Recovery
U.S. refiners restrain processing to work down excess fuel stocks: Kemp
Oil falls on rising stocks, worries of new virus wave
Russian oil export cuts are raising physical crude prices
Continental Resources to begin phasing out production curtailments in July
Oil Slips Ahead of Key Inventory Report
Oil Prices May Not Reflect Demand Signals
OIL FUTURES: Crude climbs amid tightened supply and demand outlooks
Who Will Win The Ultimate War For Libya’s Oil?
Oil Demand Recovery Set to Be Slower for Longer
Continental Resources announced an update on its voluntary production curtailments
Global pandemic cost oil industry 84,000+ jobs, PESA research shows
Oil prices finish lower as U.S. crude supplies edge higher and product stocks decline
Trump Administration Takes Keystone XL Dispute to Supreme Court
Tighter oil supplies plus U.S. stimulus efforts send Brent above $40
IEA expects oil demand to take 2+ years to recover
Iraq to Slash Oil Exports by at Least 15 Percent
Saudis cut Asian crude allocations 40% to comply with OPEC+
U.S. Supreme Court Sides with Atlantic Coast Pipeline
Corpus Christi oil export terminal comes online as shipments fall
Iraq asks BP to throttle flow in order to meet OPEC+ quota
Chesapeake’s fate marks the end of an era in U.S. shale
U.S. gasoline consumption rebounds, jet stays depressed
Oil dives 11% as investors fear a 2nd wave of coronavirus and the US reports surging crude inventories
'Sold!' Auctioneers race to unload oil equipment as U.S. drilling dries up
U.S. oil futures lose over 8% for biggest one-day loss in 6 weeks
Oil prices recover losses to settle higher on bets the market may soon 'find balance’
EIA lifts 2020 U.S. oil price outlook by nearly 17%, cuts crude output forecast

Graphs Oil and Natural Gas Prices
Futures Prices Spot Prices
NYMEX Crude Oil Brent & WTI Cushing
Brent Crude Oil Brent / WTI Price Spread
RBOB Gasoline WTI Cushing, Oklahoma
Heating Oil Brent Spot
NYMEX Natural Gas Gasoline - New York Harbor

Heating Oil - New York Harbor

Natural Gas Henry Hub Louisiana
 
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Copyright © 1996-2020 by James L. Williams
 
James L. Williams
WTRG Economics 
P.O. Box 250
London, Arkansas 72847
Phone: (479) 293-4081
 
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email WTRG at wtrg@wtrg.com