Oil & Gas
Crude oil, natural gas, NGLs, LNG and refined products — the markets that move producer revenue.
Saudi Overproduction Casts Uncertainty on OPEC+ Supply Path
Saudi Overproduction Casts Uncertainty on OPEC+ Supply Path In their latest July monthly oil market report (MOMR), OPEC reported that Saudi Arabia produce...
· Narciso Cano2 min read
Haynesville Gas Activity Rebounds as Gas Prices Rise - but Supply Questions Persist
Year-to-date (Jan 1–July 18), Henry Hub has averaged $3.66/MMBtu—up $1.25 versus the same period last year. Producers have been locking-in a...
· Jay Stevens3 min read
Soft Demand and Rising Supply Widen Global Oil Market Imbalances
The International Energy Agency’s (IEA) July 2025 Oil Market Report (OMR) presents a deteriorating picture for the global oil balance. World oil dema...
· Narciso Cano2 min read
Falling Henry Hub Prices Lead to Basis Improvements
Prompt Henry Hub prices have fallen more than 60c from June highs; meanwhile, several basis locations have improved. There is often an inverse relationship...
· Christian Drolshagen2 min read
Mild Spring Robs Gas Bulls of Demand
Following cooler-than-normal temperatures in January and February, Lower 48 weather has been net-bearish for natural gas operators and traders holding bull...
· Jay Stevens1 min read
Hurricanes Are an Increasing Risk for Natural Gas Price
Any major disruption in the Gulf is more likely to negatively impact demand rather than supply The September 2020 outage at Cameron LNG due to Hurricane...
· Ryan Alexander2 min read
EIA Lifts Near-Term Crude Price Forecasts
In their latest EIA Short-Term Energy Outlook (STEO), the agency raised its near-term oil price forecasts. The WTI price is now forecast to average $65.22/...
· Narciso Cano2 min read
OPEC+ Surprises with Supersized Production Quota Hike for August
At its latest meeting, OPEC+ announced a larger-than-expected production quota hike of 548 MBbl/d for August, surpassing the market’s expectation of ...
· Narciso Cano2 min read
Summer Natural Gas Prices Suffer with Ample Supply
Natural gas prices have materially declined since their peak back in February. The August contract shown below is well off 1Q highs of nearly $5.00/MMbtu. ...
· Jay Stevens1 min read
Solar Buildout Continues, Weighing on Gas Demand
Lower-48 solar generation continues to break records The buildout of renewable capacity will likely displace some gas power demand, specifically the les...
· Christian Drolshagen2 min read
Construction on Williams' MountainWest Overthrust Pipeline Expansion Continues
The MountainWest Overthrust Pipeline (System Map) has started construction on its 325,000 Dth/d westbound expansion from Wamsutter to Opal (NWP Rockies). O...
· Ryan Alexander1 min read
Oil and Gas Activity Contracts Amid Lower Price Outlook and Cost Pressures
Oil and gas business activity across Texas, northern Louisiana, and southern New Mexico declined in the second quarter of 2025, as uncertainty rose and…
· Narciso Cano3 min read
Tracking OPEC+ Supply: Headline vs. Reality
OPEC+ is in the process of bringing back over 2 MM barrels of additional production at a time when global balances forecast a surplus through 2026. However...
· Narciso Cano2 min read
Oil's Geopolitical Whiplash: Prices Return to Square One
Oil prices experienced a volatile swing following escalating tensions in the Middle East that evolved into direct conflict involving Israel, Iran, and the ...
· Jay Stevens2 min read
LNG Update: Maintenance Weighs on Volumes but Growth Continues
LNG feedgas demand has seen strong year-over-year growth in 2025, although maintenance has reduced volumes so far this summer Exports should reach a new...
· Christian Drolshagen3 min read
Global Oil Market Loosens as Forecasts Shift: IEA
The International Energy Agency’s (IEA) June 2025 Oil Market Report points to a loosening global oil balance through 2026, as softer demand and resil...
· Narciso Cano2 min read
EIA Projects U.S. Oil Production Decline Amid Weak Prices
The U.S. Energy Information Administration is now forecasting a decline in U.S. crude production in 2026, marking a notable shift from last month’s o...
· Narciso Cano4 min read
Ethane Prices Slip After US Export Cargo Denial
Mont Belvieu ethane prices plunged on Wednesday, June 4, after the US government notified Enterprise Product Partners that they would be denied permission to export three ethane cargoes to China.
· Jay Stevens3 min read
How to Hedge Oil and Gas When Prices Are Low
Don’t lock in a loss, but hedge to a realistic budget price. Prepare to act when prices strengthen because of short-term headlines. Keep as much ...
· Ryan Alexander3 min read
LNG Risks to the Bullish Gas Thesis
The bullish story for natural gas over the next few years is mainly driven by the substantial increase in LNG export demand. However, this view is not with...
· Christian Drolshagen3 min read
Waha Spring '26 Prices No Longer Near Zero
Finally some good (well, okayish) news for Waha prices! Waha fixed-price gas for Spring ’26 has risen closer to $1. Future price for April 2026 are...
· Matt Marshall2 min read
OPEC+ Output Plan Adds to Surplus Concerns
OPEC+ is rapidly restoring crude supply into a weakening market, raising output by 411 MBbl/d in June following a similar increase in May. While the move is intended to enforce quota discipline and align with President Trump's calls for lower prices, it comes as global demand growth slows. OPEC+
· Narciso Cano3 min read
U.S. Crude Output Nears Peak as Trade War Deepens Oil Price Slump
Oil prices have continued to decline in 2025, fueling growing concerns that U.S. crude oil production may have already peaked. A global trade war has sharply reduced oil demand growth forecasts, increasing the likelihood of a more pronounced oversupply in both 2025 and 2026. Both Brent and WTI have
· Jay Stevens2 min read
EIA Makes Substantial Forecast Changes
The US Energy Information Agency released its latest Short-Term Energy Outlook, which includes several notable changes compared to last month's outlook. He...
· Christian Drolshagen2 min read