OPEC Cuts Production In January, 2023 -- February 2, 2023

Saudi: cuts production.

Active rigs: 47.

The Far Side: link here.

WTI:  $76.49.

Natural gas: $2.558.

Friday, February 3, 2023:
39073, conf, Crescent Point, CPEUSC Samples 2-35-26-159N-100W-MBH,
38582, conf, Whiting, Connor TTT 11-26-1H,

Thursday, February 2, 2023:
39074, conf, Crescent Point, CPEUSC Szarka 4-36-25-159N-100W-MBH,
39071, conf, Resonance Exploration, Resonance Fylling 3036H,
39034, conf, CLR, Rhonda 11-28H,
38409, conf, Whiting, Kannianen 11-5TFHU,
38164, conf, Hess, BB-Budahn A-150-95-0403H-11,

RBN Energy: portfolio players take on critical roles in rapidly commoditizing global LNG market. 

Russia’s invasion of Ukraine last February upended long-standing expectations about natural gas supplies to Europe and resulted in elevated global gas prices as countries bid for LNG to fill the void.

But U.S. suppliers can only produce so much LNG, and how much of it ends up in Europe versus Asia or other gas-consuming regions in 2023 and beyond will depend largely on market forces — in other words, who needs the LNG more and is willing to pay up for it.

At the center of these market-based decisions about LNG cargo destinations are large portfolio players like Shell, BP, TotalEnergies and Naturgy and short-side portfolio players like Japan’s JERA. In today’s RBN blog we look at these two types of players, the roles they play, and their contributions to energy security.