http://www.worldoil.com WorldOil McKinsey projects a 2029 oil demand peak, accelerated by Covid-19 https://www.worldoil.com/news/2021/1/14/mckinsey-projects-a-2029-oil-demand-peak-accelerated-by-covid-19 Over the long-term, the impacts of behavioral shifts due to COVID-19 are minor compared to “known” long-term shifts such as decreasing car ownership, growing fuel efficiencies and a trend towards electric vehicles, whose impact is estimated to be three-to-nine times higher than the pandemic’s by 2050. PE launches Transition Economist and Hydrogen Economist services https://www.worldoil.com/news/2021/1/11/pe-launches-transition-economist-and-hydrogen-economist-services The publisher of Petroleum Economist, the leading global information service for the full hydrocarbon value chain, is bringing the same analytical depth and rigorous editorial standards to two rapidly-evolving sectors, the energy transition and the emerging hydrogen economy. How U.S. shale exports forever changed global oil markets https://www.worldoil.com/news/2021/1/8/how-us-shale-exports-forever-changed-global-oil-markets “Opening the shale revolution to the world through the export ban lifting helped shift the global oil market psychology from supply scarcity to abundance,” said Karim Fawaz, director of research and analysis for energy at IHS Markit. “It unshackled the U.S. industry to keep growing past its domestic refining limitations.” Pioneer’s CEO sees shale output flat for the foreseeable future https://www.worldoil.com/news/2021/1/7/pioneer-s-ceo-sees-shale-output-flat-for-the-foreseeable-future “I really don’t see much increase in the Permian basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer Natural Resources Co. U.S. drilling rig count ends a whipsaw year at pre-shale-era levels https://www.worldoil.com/news/2020/12/30/us-drilling-rig-count-ends-a-whipsaw-year-at-pre-shale-era-levels The number of rigs drilling for oil in the U.S. closed out 2020 at 267, according to Baker Hughes Co. data released December 30th. It’s the lowest end-of-year figure since 2005, when drilling and fracking breakthroughs perfected in natural gas regions like North Texas’s Barnett shale were just beginning to be deployed. How one bad Covid bet will forever change how the world trades oil https://www.worldoil.com/news/2020/12/29/how-one-bad-covid-bet-will-forever-change-how-the-world-trades-oil A coronavirus-fueled trading scandal is driving stricter borrowing rules and accountability standards, dramatically changing key players in the world's oil supply trade. IEA projects a global crude oversupply through 2021 https://www.worldoil.com/news/2020/12/15/iea-projects-a-global-crude-oversupply-through-2021 “Demand is clearly going to be lower for longer than expected” when the virus emerged in the spring, the agency said in a report, trimming forecasts for world fuel consumption following a new wave of lockdowns. “The market remains fragile,” it warned. Wall Street favor shifting from U.S. shale to Canadian oil sands https://www.worldoil.com/news/2020/12/14/wall-street-favor-shifting-from-us-shale-to-canadian-oil-sands Steady output from their mines means that oil sands producers are able to keep revenue coming for decades without too much investment, while the short life span of shale wells forces U.S. explorers to constantly burn cash just to keep up production. As the world focuses on climate change targets, the Middle East doubles down on oil https://www.worldoil.com/news/2020/12/11/as-the-world-focuses-on-climate-change-targets-the-middle-east-doubles-down-on-oil With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bets. Oil prices find new strength as financial markets prep for a 2021 recovery https://www.worldoil.com/news/2020/12/11/oil-prices-find-new-strength-as-financial-markets-prep-for-a-2021-recovery The past few weeks for oil have been more than a realignment of supply and demand -- huge financial flows are also driving the price rally. In a world that’s expecting to see travel recover sharply next year, crude has become a hot Covid-vaccine trade.