The IEF-@SPGCI Oil & Gas upstream investment report is out! Annual upstream oil and gas capital expenditures will need to rise by 22 percent by 2030 to ensure adequate supplies due to growing demand and cost inflation. ief.org/focus/ief-repo…

Annual oil and gas upstream capex grew by $63 bn in 2023 and is expected to grow by another $26 bn this year to $603 bn, the highest since 2014.

Upstream investment will need to rise to $738 bn by 2030 and a cumulative $4.3 tn needs to be invested between 2025 and 2030 to meet market needs, even as demand growth slows toward a plateau.

Investment is needed to offset production declines and meet future demand growth. Without new drilling, conventional oil output would fall by 21% by 2035 and non-conventional crude, including 🇺🇸US shale, would drop 80%.

Oil demand outlooks diverge, creating uncertainty for investors. Despite similar GDP outlooks, IEA and OPEC’s 2025 oil demand forecasts diverge by 2 mb/d. By 2030, IEA and OPEC base case scenarios diverge by 7 mb/d.

#Oil and #gas industry will need cumulative investments worth $4.3 trillion from 2025 to 2030 to meet growing demand and maintain market stability, according to an analysis by International Energy Forum arab.news/p5eut

A must read thread. 🔥

Our team is growing! Energy Master Allyson Cutright seeks a padawan/grasshopper to join the team. Passion for energy, data, data visualization, and excellent taste in memes required! workforcenow.adp.com/mascsr/default…

Great opportunity to join our team! Do you love data, visualizations, and energy markets? Apply!

The Strategic Petroleum Reserve (SPR) has become a recurring political football, often mentioned without any facts or context. So here are some helpful facts and analysis to amend the situation. 🧵

Reshaping of the global oil market in one chart.

Florida's transportation fuels supply primarily comes via tanker and articulated tug-barge from refineries along the U.S. Gulf Coast. Any jump in transportation fuels demand happens BEFORE a hurricane arrives as people evacuate. The port of Tampa reopened after Helene ~9/28.

One chart to rule them all... 2024 in review - U.S. oil and natural gas

Move over Walter and Jesse. It's Lea and Eddy's turn to cook... NM crude oil production has more than 2x since 2019 with 80% of the growth occurring on federal lands in Lea and Eddy Counties. Nearly 70% of NM crude oil production occurs on federal land vs. 27% of total U.S.

Why does access to Federal lands for oil & gas matter? Between 2020-2024, 48% of U.S. crude oil production growth occurred on Federal lands. See: API's 2024 Federal Onshore Oil & Natural Gas Trends report. api.org/products-and-s…

It’s true we have an abundance of natural gas in several parts of the U.S., particularly in the Marcellus (PA, OH, WV) and West Texas — but lack the pipeline capacity to deliver it to regions that need it. Not just in the depths of winter, but throughout the year. 🧵

🚨Attention job seekers! Mr. Miyagi seeks a Daniel LaRusso Yoda seeks a Luke Skywalker Rocky seeks a Creed Morpheus seeks a Neo Agent K seeks a Agent J Leon seeks a Mathilda Master Shifu seeks a Po Patches O'Houlihan seeks someone to throw wrenches at... Join the API Economics

Calling early career energy analysts, the API Econ and Research team is hiring! Come learn about energy markets, charts, and "how to use pop culture references to make energy markets understandable" from a team of masters. Check it out and Apply! workforcenow.adp.com/mascsr/default…

American Petroleum Institute 's very own Allyson Cutright and Jeff Barron are published in the latest edition of the Association for Materials Protection and Performance's U.S. Pipeline Industry Report. content.ampp.org/industry-repor…

“Pipeline infrastructure is re-emerging as a critical enabler of affordable, reliable, and secure energy. The next decade will be defined less by whether pipelines are built and more by whether they can be built fast enough.” — API’s Allyson Cutright and Jeff Barron in AMPP’s