Oil News

[dan_s]

The US shale industry is set to achieve a significant milestone in 2021: If WTI futures continue their strong run and average at $60 per barrel this year and natural gas and NGL prices remain steady, producers can expect a record-high hydrocarbon revenue of $195 billion before factoring in hedges, a Rystad Energy analysis shows. The previous record of $191 billion was set in 2019. The estimate includes hydrocarbon sales from all tight oil horizontal wells in the Permian, Eagle Ford, Bakken, Niobrara and Anadarko regions.

[dan_s]

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Big improvement in the fundamentals.
> Significant increase in driving and gasoline demand in U.S. this summer.
> Refinery runs are increasing = more demand for crude oil.
> Summer Blends of gasoline require more crude oil.
> U.S. dollar weakness continues