Chinese Refineries Shatter Records In June
Chinese Refineries Shatter Records In June
China’s refineries processed a record amount of crude oil last month, at 14.8 million bpd, up by 3.9 percent from May when run rates also broke records, Reuters reported, citing data from the national statistics bureau.
2021/07/16 10:02
OPEC Sees Global Oil Demand Exceeding 100 Million Bpd In 2022
OPEC Sees Global Oil Demand Exceeding 100 Million Bpd In 2022
World oil demand is expected to surpass the 100 million barrels per day (bpd) mark in the second half of 2022, thanks to solid economic growth and expectations of continued success in containing the pandemic, OPEC said on Thursday.
2021/07/16 09:59
Oil Slips On Prospect Of Rising OPEC+ Supply
Oil Slips On Prospect Of Rising OPEC+ Supply
Oil prices dropped early on Thursday as the market assesses the prospect of higher crude supply from the OPEC+ group after a reported compromise between key OPEC members Saudi Arabia and the United Arab Emirates (UAE).
2021/07/16 09:57
Goldman Bullish On Oil Despite Saudi-UAE Agreement
Goldman Bullish On Oil Despite Saudi-UAE Agreement
Goldman Sachs has reiterated its $80 price forecast for Brent crude despite reports that Saudi Arabia and the United Arab Emirates had reached a deal on oil production that will extend the OPEC+ deal until the end of next year.
2021/07/16 09:51
Oil Stabilizes After Saudi-UAE Compromise Removes Major Uncertainty
Oil Stabilizes After Saudi-UAE Compromise Removes Major Uncertainty
Oil prices steadied on Wednesday morning before the EIA inventory report after a reported compromise between Saudi Arabia and the UAE over baseline production levels removed a major uncertainty that was hanging over the market.
2021/07/15 19:56
EIA Inventory Report Sends Oil Prices Higher
EIA Inventory Report Sends Oil Prices Higher
Crude oil prices inched higher today after the Energy Information Administration reported a crude oil inventory draw of 7.9 million barrels for the week to July 9.
2021/07/15 19:54
Kuwait Looks At Huge Wealth Fund To Move Beyond Oil
Kuwait Looks At Huge Wealth Fund To Move Beyond Oil
Kuwait’s life-after-oil fund may have become one of the world’s biggest sovereign wealth funds thanks to the country’s healthy oil industry, as it continues to prepare for a life after oil as it invests heavily in the sector while it still can. The Future Generations Fund, managed by the Kuwait Investment Authority or KIA, is thought to be worth around $700 billion at present, according to sources in the country, after closing at $670 billion at the end of the fiscal year in March, making it the world’s largest oil fund after those of Norway and China.
2021/07/15 19:47
The Refining Industry Is Struggling To Adapt To The Future
The Refining Industry Is Struggling To Adapt To The Future
The upstream oil and gas business is recovering from one of the worst slumps in recent memory as oil prices sit at around $75 per barrel and global demand rises.However, the downstream segment's suffering is set to linger—and not only in the short term. Lower refining margins and structural overcapacity are the near-term challenges ahead for the oil refining industry.
2021/07/14 17:02
Oil Has Become The Hottest Commodity On Wall Street
Oil Has Become The Hottest Commodity On Wall Street
Now, commodities are back with a vengeance, and nowhere is this vengeance clearer than in oil. Crude has become the hottest commodity for traders in the past few weeks as surging demand has topped all expectations, sparking a run on oil futures.
2021/07/14 16:44
Our 2021 review deals a major blow for the size of the world’s remaining recoverable oil resources – but it also shows that oil production and consumption can align with climate goals.
World’s Recoverable Oil Resources Shrinks By 9%
Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our 2021 review deals a major blow for the size of the world’s remaining recoverable oil resources – but it also shows that oil production and consumption can align with climate goals.
2021/07/14 16:24
Oil prices have continued to rally this year as economies recover from impaired pandemic levels, however, calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration.
Spreads And Inventory Levels Suggest Oil Prices Will Go Even Higher
Oil prices have continued to rally this year as economies recover from impaired pandemic levels, however, calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration.
2021/07/14 16:04
High Oil Prices Threaten The Global Economic Recovery
High Oil Prices Threaten The Global Economic Recovery
Since oil prices exceeded $70 per barrel earlier this year, analysts, economists, and central banks have been fretting about whether higher crude prices could disrupt the momentum in global economic recovery from the pandemic.
2021/07/14 15:59
Chinese Refineries Shatter Records In June
Chinese Refineries Shatter Records In June
China’s refineries processed a record amount of crude oil last month, at 14.8 million bpd, up by 3.9 percent from May when run rates also broke records, Reuters reported, citing data from the national statistics bureau.
OPEC Sees Global Oil Demand Exceeding 100 Million Bpd In 2022
OPEC Sees Global Oil Demand Exceeding 100 Million Bpd In 2022
World oil demand is expected to surpass the 100 million barrels per day (bpd) mark in the second half of 2022, thanks to solid economic growth and expectations of continued success in containing the pandemic, OPEC said on Thursday.
Oil Slips On Prospect Of Rising OPEC+ Supply
Oil Slips On Prospect Of Rising OPEC+ Supply
Oil prices dropped early on Thursday as the market assesses the prospect of higher crude supply from the OPEC+ group after a reported compromise between key OPEC members Saudi Arabia and the United Arab Emirates (UAE).
Goldman Bullish On Oil Despite Saudi-UAE Agreement
Goldman Bullish On Oil Despite Saudi-UAE Agreement
Goldman Sachs has reiterated its $80 price forecast for Brent crude despite reports that Saudi Arabia and the United Arab Emirates had reached a deal on oil production that will extend the OPEC+ deal until the end of next year.
Oil Stabilizes After Saudi-UAE Compromise Removes Major Uncertainty
Oil Stabilizes After Saudi-UAE Compromise Removes Major Uncertainty
Oil prices steadied on Wednesday morning before the EIA inventory report after a reported compromise between Saudi Arabia and the UAE over baseline production levels removed a major uncertainty that was hanging over the market.
EIA Inventory Report Sends Oil Prices Higher
EIA Inventory Report Sends Oil Prices Higher
Crude oil prices inched higher today after the Energy Information Administration reported a crude oil inventory draw of 7.9 million barrels for the week to July 9.
Kuwait Looks At Huge Wealth Fund To Move Beyond Oil
Kuwait Looks At Huge Wealth Fund To Move Beyond Oil
Kuwait’s life-after-oil fund may have become one of the world’s biggest sovereign wealth funds thanks to the country’s healthy oil industry, as it continues to prepare for a life after oil as it invests heavily in the sector while it still can. The Future Generations Fund, managed by the Kuwait Investment Authority or KIA, is thought to be worth around $700 billion at present, according to sources in the country, after closing at $670 billion at the end of the fiscal year in March, making it the world’s largest oil fund after those of Norway and China.
The Refining Industry Is Struggling To Adapt To The Future
The Refining Industry Is Struggling To Adapt To The Future
The upstream oil and gas business is recovering from one of the worst slumps in recent memory as oil prices sit at around $75 per barrel and global demand rises.However, the downstream segment's suffering is set to linger—and not only in the short term. Lower refining margins and structural overcapacity are the near-term challenges ahead for the oil refining industry.
Oil Has Become The Hottest Commodity On Wall Street
Oil Has Become The Hottest Commodity On Wall Street
Now, commodities are back with a vengeance, and nowhere is this vengeance clearer than in oil. Crude has become the hottest commodity for traders in the past few weeks as surging demand has topped all expectations, sparking a run on oil futures.
Our 2021 review deals a major blow for the size of the world’s remaining recoverable oil resources – but it also shows that oil production and consumption can align with climate goals.
World’s Recoverable Oil Resources Shrinks By 9%
Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our 2021 review deals a major blow for the size of the world’s remaining recoverable oil resources – but it also shows that oil production and consumption can align with climate goals.
Oil prices have continued to rally this year as economies recover from impaired pandemic levels, however, calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration.
Spreads And Inventory Levels Suggest Oil Prices Will Go Even Higher
Oil prices have continued to rally this year as economies recover from impaired pandemic levels, however, calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration.
High Oil Prices Threaten The Global Economic Recovery
High Oil Prices Threaten The Global Economic Recovery
Since oil prices exceeded $70 per barrel earlier this year, analysts, economists, and central banks have been fretting about whether higher crude prices could disrupt the momentum in global economic recovery from the pandemic.

Zhongyuan Oilfield opens a new mode of intelligent brain 2.0 for oil wells

2020/06/17 16:40
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On June 17, at the Wen 72-129 well site of Wenliu Oil Production Plant in Zhongyuan Oilfield, production workers were debugging the parameters of the wellhead multi-parameter sensing device. This device is the latest monitoring device after upgrading. Compared with traditional digital pressure gauges and thermostats, this device overcomes the problems of poor performance, complex structure, and easy damage, and greatly improves work efficiency. At the same time, the “smart brain” of oil wells has been upgraded again. At present, the device has been widely promoted in oil fields. Since the application of this device, Wenliu Oil Production Plant alone has saved more than 1 million yuan in maintenance costs for digital pressure gauges and thermostats.