Oil and Gas Outlook: Rising...or is it - Mineral Royalties #oilexploration #oilandgas #crudeoil
The oil and gas industry's outlook is undergoing significant shifts. With a decrease of over 100 drilling rigs year over year, the sector is experiencing a reduction in exploration activities. Meanwhile, the rapid decline in the DUC (drilled but uncompleted) inventory has contributed to the recent rise in oil production. Although crude oil inventories are on a downward trajectory, they still hover around the lower range of the 5-year average. Notably, countries within the OPEC+ alliance, including Saudi Arabia, are actively working to bolster oil prices beyond the $80 mark, underscoring the need for higher revenues.
These combined dynamics have led many experts to predict a sustained upward trajectory for oil prices throughout the remainder of this year and into 2024. As drilling rig counts decrease and DUC inventories shrink, there's a growing emphasis on optimizing existing resources. The ongoing efforts by OPEC+ nations to support elevated oil prices further reinforce the outlook of a price hike in the coming years. However, the industry remains subject to various global factors, making the prediction of oil's future direction a complex endeavor.
https://www.eia.gov/petroleum/weekly/index.php
https://www.eia.gov/todayinenergy/detail.php?id=48537
To learn how to own a royalty income property, contact us now.
Thank you for watching.
Visit our website. https://mineralroyaltiesgroup.com/
Listen to and like this video then Subscribe to this channel.
Do you have a strategy to protect your wealth from #recession #inflation #stagflation #hyperinflation #energycrisis?
We offer FREE reviews if you are evaluating an oil well drilling or re-work deal.
Give us a call or send us an email.
Uncover ways to use Self Directed IRA and 1031 Exchange #funds to #purchase a mineral property.
#oilandgas #energy #renewableenergy #offshore #oilfield #petroleum #naturalgas #energytransition #fracking #drilling #sustainability #cleanenergy #energyindustry #energyefficiency #fossilfuels #climatechange #carbonfootprint #oilprices #energynews #energysecurity
This video is meant for educational or entertainment purposes only. This video is not a solicitation. I am not a lawyer, CPA, or financial advisor and I am not giving legal, financial, or tax advice.
-
1:00
MineralRoyalties
1 year agoThe Future of the Oil Industry - Mineral Royalties
9 -
1:00
MineralRoyalties
11 months agoOil: A Vital Resource - Mineral Royalties
60 -
19:03
Financial Survival Network
7 months agoTrillion Energy: Gas Production Increasing and Oil Exploration Has Begun
18 -
19:10
George Gammon
4 years agoShocking Future Of OIL PRICES! (Revealed)
9 -
11:00
The Money GPS
1 year ago $0.05 earnedOil Prices DROP: Is $40 a Barrel Coming Soon?
1801 -
44:03
The Rich Dad Channel
8 months agohe Future of Oil & Gas Industry - Mike Mauceli, Linnea Lueken
3.74K2 -
5:53
The Economic Ninja
1 year agoOil Prices Spike As Keystone Pipeline Leak ( What's Next )
135 -
17:04
kingdomexplora
3 years agoOil Prices - While OPEC ramps up production, U.S. oil output is projected to fall
593 -
24:19
Kitco NEWS
4 months ago2024 Oil Market Outlook: Insights into Brent Price Levels
350 -
10:21
StockTradingTips
1 year agoOXY Price Predictions - Occidental Petroleum Corporation Stock Analysis for Monday, June 6th
23