US oil output from major shale-producing regions, including Eagle Ford, Permian, and Bakken, is set to increase in April to levels not seen since late 2023, according to the EIA. Gunvor predicts a significant rise in US crude output for 2024, exceeding 400,000 barrels per day, and foresees oil prices ranging from $85 to $90 in the third quarter, even without OPEC+ cuts.
Oil to Trade at $85-$90 Next Quarter Even Without OPEC+ Cuts, Gunvor Says Saudis have no choice but to be swing producer, analyst says Plentiful supply has kept prices in check despite wars #oott https://t.co/P7ph3WibDF
Oil prices likely will trade at about $85-$90 a barrel in the third quarter even if OPEC+ producers and allies decide not to extend current supply cuts, said Gunvor’s global head of research and analysis. https://t.co/1f3gxfUkCr
Oil prices likely will trade at about $85-$90 a barrel in the third quarter even if OPEC+ producers and allies decide not to extend current supply cuts, said Gunvor’s global head of research and analysis. https://t.co/aJNszJwBC4
🛢️ Output in the top U.S. shale field, the Permian basin of West Texas and New Mexico, will rise between 300,000 bpd and 400,000 bpd this year, he said in remarks at the CERAWeek energy energy conference. https://t.co/nuJCMuTyrh
🔴 GUNVOR SEES OIL PRICES AT $85-$90 IN Q3 EVEN WITHOUT OPEC+ CUTS.
🔴 GUNVOR SEES 2024 US CRUDE OUTPUT RISING BY MORE THAN 400K B/D.
🔴 US EAGLE FORD OIL OUTPUT DUE TO RISE IN APRIL TO ITS HIGHEST SINCE NOVEMBER 2023 - EIA.
🔴 EIA: US BAKKEN OIL OUTPUT DUE TO RISE IN APRIL TO ITS HIGHEST SINCE DECEMBER 2023.
🔴 EIA: US PERMIAN OIL OUTPUT DUE TO RISE IN APRIL TO ITS HIGHEST SINCE DECEMBER 2023.
🔴 EIA: US OIL OUTPUT FROM TOP SHALE-PRODUCING REGIONS DUE TO RISE MARGINALLY IN APRIL TO HIGHEST SINCE DECEMBER 2023.