Industry at a glance
World oil supply increased by 1.1 million bopd in July to 85.3 million bopd, but monthly gains from non-OPEC producers could prove short-lived as maintenance and seasonal factors will likely reverse the July increase in August and September. WTI reached a record high of over OPEC raised its forecasts of world oil demand by 130,000 bopd for this year and by 120,000 bopd for next year, but warned that the demand outlook was being clouded by a number of “emerging uncertainties.” Changes have been made to the world oil and NGL production table, as Africa-others has become Africa/Middle East-others. Also, data for the workover rig graph and table will henceforth come from Weatherford and will now include rod jobs and wells less than 1,500 ft deep. |
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)