There are a lot of huge numbers in the oil and gas industry--dollars, barrels, MMcfs. It's hard to grasp their true meaning and context. What's a billion, anyway? But I got a new and frightening perspective when I came across the following insight at a peak oil website recently, the ASPO-USA (Association for the Study of Peak Oil): If some E&P company were fantastically lucky and announced a headline-making discovery of 500 million barrels of oil--recoverable-- that may not be so much of a big windfall after all. Why not, you say? It is the equivalent of only 25 days of current U.S. oil consumption! Not even a month. --Lhaines@hartenergy.com
Global Markets: Wall St Poised to Join Stocks Advance, Inflation Ebbs in Europe
2023-03-30 - Receding inflation in Spain and Germany helped government bonds in Europe, and crude oil prices rose after a surprise drop in U.S. stockpiles.
OPEC+ Unlikely to Tweak Oil Policy in April 3 Talks
2023-03-30 - Russia-led OPEC+ is holding a virtual meeting on April 3 to discuss cutting existing oil output.
Report: Fossil Fuels Still Motor on as Transition Trudges Along
2023-03-30 - Despite pledges and investment, the energy transition remains sluggish as fossil fuels continue to rule, energy outlook report says.
SM Energy Announces $0.15/Share Quarterly Cash Dividend
2023-03-30 - SM Energy's board of directors announced the quarterly cash dividend of $0.15/share of common stock outstanding will be paid out to stockholders on May 5.
Oil Rises on U.S. Crude Draw, Iraqi Supply Risks
2023-03-30 - Looking ahead, markets will be keeping an eye on U.S. spending and inflation data and the resulting impact on the value of the U.S. dollar.