EIA estimates that by 2018, the average oil price will be $ 50 / barrel...
EIA now forecasts Brent crude oil spot prices to average $51/bbl in 2017 and $52/bbl in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be $2/bbl lower than Brent prices in 2017 and 2018.
Permian oil producers hedging 65% of their output at $50/bbl...
Crude oil-weighted operators in the Permian basin have hedged 65% of their remaining 2017 oil production at $50/bbl and 50% of their remaining gas production at $3/Mcf, according to analysis from IHS Markit Ltd.
Indonesia offers 15 oil and gas blocks to potential companies...
Indonesia’s crude oil production declined over the last decade due to the natural maturation of producing oil fields combined with a slower reserve replacement rate because of decreased exploration/investment.
OPEC took the initiative to meet with US shale oil and gas companies...
OPEC Secretary General recently said that OPEC took an active "ice breaking", meeting with major US shale oil and gas companies during the World Oil Congress in Istanbul, Turkey, was productive.
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