There’s nothing the Organization of Petroleum Exporting Countries (OPEC) can do to stop U.S. shale, John Driscoll, chief strategist at JTD Energy Services said on Thursday, adding that the recent oil rally is seasonal.
Texas-based Andeavor on Monday announced that two of its master limited partnerships are merging. The $1.5 billion stock deal involves Andeavor Logistics buying Western Refining Logistics, Kallanish Energy reports.
The number of drilled, but uncompleted wells – so-called DUCs – rose 3% from June to July in the Lower 48 U.S. state’s seven most prolific drilling regions, according to the Energy Information Administration’s just-released Drilling Productivity Report (DPR).
Total U.S. crude oil production is forecast to average 9.9 million barrels per day (MMBPD) in 2018 – surpassing the previous record of 9.6 MMBPD set nearly a half-century ago, the Energy Information Administration projects.