Skip to content
Northwest Trail

Northwest Trail

  • Return to earlier searches using Google ‘Journeys’ now available in Chrome News
  • TRAI Slashes Rate Of Mobile Number Portability By 79% Internet
  • Offshore Wind Energy Market Size Overview 2024 Business
  • Nuro Reveals Autonomous Delivery Van Automobile
  • The owner of Tinder modifies his forecast because of the ongoing problems with Omicron. News
  • Ocado’s new steak pack structure eliminates 8 tonnes of plastic yearly Business
  • Playing WMV on MACOS Technology
  • Scientists have devised a useful chemical data management model News

Dallas Federal Reserve president to see cut in oil and gas capital spending

Posted on March 2, 2020 By MartinSmith

The Federal Reserve of Dallas which has Permian basin in their economic region has been expecting the sector of oil and gas to cut their spending on capital by 10-15% in the year 2020.

Rob Kaplan who is the president of the district has said that this decline in the production growth of oil is going to have a major impact on the companies of energy services. A few of these companies have announced their restructurings as well as layoffs however he is expecting to witness a lot more of this as the year 2020 is going to be one where cost cutting and consolidation is going to happen

See also  Laughter Get Murkier... Renuka Moves Breach Of Privilege Motion

The oil production in United States has been estimated to grow by a level of 700,000 bpd form the fourth quarter of 2019 to the fourth quarter of 2020. The forecast is assuming a decline of the as much as 700,000 barrels per day in the non-OPEC production and a drop in the same level by OPEC too.

See also  In the European MRO industry, the influence of e-commerce has been studied

Kaplan has also cited the forecast of the IEA that the demand in the world is going to growth by 1 million bpd a day in the year 2020 to a level of 102.2 million bpd. He also pointed that the risks related to coronavirus are going to calm the demand down and present a risk which is more meaningful to the growth in demand since China has accounted for close to 14% of the consumption all over the world.

See also  Anticancer Ruthenium Compounds with a Water-Soluble Formula

The IEA has forecast that the impact of virus may reduce the demand by close to 400,000 bpd in first quarter and this is going to be first decline which has taken place after the Great Recession.

###

News Tags:Dallas Federal Reserve president to see cut in oil and gas capital spending

Post navigation

Previous Post: Dallas Fed President says that labor market might be at the full employment levels
Next Post: G20 Officials Call For Unified Action To Tax Leading Tech Companies

Related Posts

  • A travel planning app developed by Google has been shut down News
  • The Myth of Walking 10,000 Steps a Day Has Been Disproved by Scientists Health
  • PCs that don’t support Windows 11 have a watermark on their desktops that’s difficult to remove News
  • Apple iPhones Gets Discounts On Valentine’s Day News
  • Netflix and Prime video to reduce streaming equality News
  • The Next U.S. Moon Landing Program Will Be Managed by Private Companies News
  • Automobile
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Internet
  • News
  • Sports
  • Technology
  • Uncategorized
  • Vacuum Belt Dryer Market Forecast: Strategic Insights and Future Trends 2032
  • Vegetable-Oil-Based Cutting Fluids Market Landscape: Trends, Innovations, and Projections 2032
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024
  • Construction Materials Market: Trends, Analysis, and Future Outlook 2032
  • Offshore Wind Energy Market Size Overview 2024
  • Carotenoids Are Being Used by the Food and Beverage Industry Health
  • Retail stores announce change of operating hours Health
  • Uncertainty still exists over the coronavirus impact on unemployment News
  • Researchers have discovered a new additive material that might one day make fuel cell powered vehicles a reality Business
  • Plant Phenotyping Market Analysis 2020 to 2028 Business
  • A New Record for Thin-Film Photovoltaic Cell Efficiency Has Been Set News
  • Lok Sabha Elections 2019—BJP’s Options In Andhra Pradesh News
  • Global Automotive Composite Market
    Global Automotive Composite Market Insights Report 2022-2028 Automobile

Copyright © 2025 Northwest Trail.

Powered by PressBook News WordPress theme