oil recovery – Oil & Gas 360

Halliburton announces new solution for oil recovery and sand control

November 1, 2024

(World Oil) – Halliburton has announced the addition of SandTrap® XL to its sand consolidation portfolio. This latest innovation addresses the industry’s challenge of excessive sand production with a low-viscosity resin system. Activated externally, it enables solids control over large intervals. SandTrap XL delivers consolidation strength to formation grains and preserves the original permeability of the rock. This new generation of sand

It’s reasonable for oil prices to be $60 to $75 in a year’s time, says oil expert Dan Yergin

April 20, 2021

CNBC Demand and supply pressures will offset each other in the oil market, and it’s reasonable to expect prices to remain in its current range in one year’s time as countries recover from the coronavirus crisis, said oil expert Dan Yergin. “If we really do have the rest of the world recover, I think it’s reasonable to think that oil

OPEC cuts, vaccines to sustain oil’s recovery: Reuters poll

March 31, 2021

Reuters Oil prices will stabilise above $60 a barrel level this year, as vaccine rollouts support a demand recovery and OPEC and its allies continue to rein in supply, a Reuters poll showed on Wednesday. The survey of 48 participants forecast Brent would average $63.12 per barrel in 2021, up from last month’s consensus of $59.07 and the average price

Oil set for steady gains as economies shake off pandemic blues

February 26, 2021

Reuters Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday. The survey of 55 participants forecast Brent crude would average $59.07 per barrel in 2021, up from last month’s $54.47 forecast.

Column: U.S. oil inventories offer hope, and a warning, to OPEC+ – Kemp

November 13, 2020

Reuters LONDON – U.S. petroleum inventories are gradually normalising as output curbs by OPEC+ and processing restraint by refiners push the oil market back towards balance. But with stocks of crude and distillates still well above the five-year average, OPEC+ and refiners will need to maintain their disciplined approach until at least March to avoid renewed downward pressure on prices.

OPEC chief says rising infections may delay oil recovery

October 26, 2020

Reuters LONDON – OPEC’s secretary general said on Monday an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. The Organization of the Petroleum Exporting Countries and allies including Russia made a record oil output cut in April as the pandemic

Column: Oil recovery waits for international flying to return – Kemp

September 18, 2020

Reuters LONDON – Jet fuel consumption remains the hardest hit section of the global oil market as passengers avoid air travel as a result of the pandemic and government travel restrictions. The specific problems of the jet market explain why refinery margins for closely related distillates such as diesel are currently being hit much harder than benchmark oil prices. Jet’s

Oil set for fragile recovery as economies limp towards normal: Reuters poll

July 31, 2020

Reuters Oil prices are set for a slow crawl upwards this year as the gradual easing of coronavirus-led restrictions buoy demand, although a second COVID-19 wave could slow the pace of recovery, a Reuters poll showed on Friday. The survey of 43 analysts and economists forecast benchmark Brent crude LCOc1 to average $41.50 a barrel in 2020, up slightly from

Global recovery unlikely to be v-shaped, says Shell chief

July 16, 2020

Reuters LONDON – The global economy will not achieve a v-shaped recovery after the coronavirus epidemic, which will curtail oil and gas demand for years, Royal Dutch Shell’s (RDSa.L) chief executive said. Ben van Beurden told an online interview with IHS Markit Chairman Dan Yergin that it was too early to know if demand for oil had peaked. “Energy demand,

Column: Oil traders see market starting road to recovery: Kemp

May 12, 2020

Reuters LONDON – Crude oil traders expect the market to be closer to balance in the next few months as production cuts are implemented and the global transport system emerges from a coronavirus lockdown. Futures prices and swaps linked to physical prices show the market has now moved through the worst of the crisis caused by the volume war between

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