Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Oil

US oil output returns but will be stunted by capex cuts into 2021

Commodities | Electricity | Energy | Electric Power | Nuclear | Energy Transition | LNG | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Refined Products | Coronavirus | ESG

Market Movers Europe, Jan 18-22: Nord Stream 2 works resume; the future of oil and energy in focus

Electric Power

Platts Forward Curves – Gas and Power

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Agriculture | Biofuels | Natural Gas | Oil | Refined Products | Gasoline

Hydrous ethanol price parity not seen decreasing despite gasoline price hike: sources

Emissions | LNG | Natural Gas | Oil | Steel | Raw Materials | Containers

Commodity Tracker: 7 charts to watch this week

Listen: US oil output returns but will be stunted by capex cuts into 2021

US oil producers have started bringing some shut-in wells back online since this spring's price crash.

S&P Global Platts Analytics expects the nearly all the shut-in volumes to come back by October. But US oil output will continue to decline as a result of some $41 billion in capital expenditure cuts announced by drillers this year.

Ash Singh, manager of non-OPEC supply at Platts Analytics, expects US production to decline around 500,000 b/d year on year in 2020 and more than 1.5 million b/d in 2021. That would put US output about 3.4 million b/d below Platts' pre-price collapse forecast by end-2021.

We asked Singh about which US basins would come back first, how a potential Dakota Access Pipeline shutdown would impede the Bakken's return, and what's happening with other non-OPEC producers outside of the US and Canada.

Singh also shares his outlook for US crude exports and whether second-wave coronavirus outbreaks or rising US-China tensions will alter that picture.