- OPEC forecasts:
- world demand for crude oil rising by 1.4 million bopd in 2020
- world demand for crude oil flirting with the 100 million b/d threshold
- OPEC will grow production by 2.4 million bopd
- EIA now says US shale production will not grow as fast as originally forecast
- US oil production should rise by 1.36 million bopd to 12.32 million bopd
- about 140,000 bopd less than original forecast
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Back to the Bakken
- 34941, SI/NC, Hess, EN-Kulczyk-154-94-2029H-2, Alkali Creek, no production data,
- 34176, IA/795, CLR, Ravin 8-1H2, Dimmick Lake, t--; cum --;
| $57.72 | 8/1/2019 | 08/01/2018 | 08/01/2017 | 08/01/2016 | 08/01/2015 |
|---|---|---|---|---|---|
| Active Rigs | 58 | 63 | 60 | 34 | 74 |
RBN Energy: Bakken gas muscling out western Canadian supply from Chicago market. Archived.
The battle between Bakken and Western Canadian natural gas supplies for the Chicago market seems to be advancing toward a final showdown of sorts. Associated gas production from the crude-focused Bakken has been rising sharply, but capacity on the Bakken’s two gas takeaway pipelines — Northern Border and Alliance, also utilized by Western Canadian Sedimentary Basin (WCSB) supplies — has been maxed out for a few years now. The result is that Bakken gas is increasingly encroaching on — and pushing back — imports from the WCSB. Bakken gas flows already overtook Canadian gas receipts on Northern Border a year ago. Since then, the gas-on-gas competition and the resulting pipeline constraints have escalated, and things are likely to get worse. Today, we break down the forces at play in the competition for market access.
