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Scoop Stack Oil Output Slashed

Production in Oklahoma s Scoop Stack shale play is forecasted to hit 342,000 barrels of oil per day and 5.8 billion cubic feet per day this month, according to GlobalData s latest report. Production in Oklahoma’s Scoop Stack shale play is forecasted to hit 342,000 barrels of oil per day and 5.8 billion cubic feet per day this month, according to GlobalData’s latest report. The figures mark a 43 percent decline in oil and a 27 percent dip in natural gas from the play’s peak in September 2019, which saw highs of 604,000 barrels of oil per day and 7.9 billion cubic feet of gas per day, GlobalData highlighted. GlobalData outlined that this “sharp decrease” in production is linked to a “drastic” drop in rig count, “with companies reducing capital expenditure, as well as focusing capex in other plays”.

Texas Fuel Outlets Still Dealing with Shortages

One in every seven Texas gas stations is without fuel a week after the historic freeze crippled refineries and trucking. (Bloomberg) One in every seven Texas gas stations is without fuel a week after the historic freeze crippled refineries and trucking, prompting at least one major retailer in the second-largest U.S. state to seek outside help. The number of filling stations and convenience stores with empty tanks reached 15% across the Lone Star state as of Wednesday morning, according to the Texas Food & Fuel Association and retail tracker GasBuddy. Shortages are most acute in Lubbock, El Paso and Odessa in West Texas, GasBuddy analyst Patrick DeHaan said in email.

Oil Up with Global Market Tightening

ADNOC Shipping Arm Buys 6 Very Large Crude Carriers

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