Movement in prices and US upstream spending

In the Short-Term Energy Outlook report released in February, the US Energy Information Administration projected that the average West Texas Intermediate crude oil price will fall to $93/bbl in 2013 and to $92/bbl in 2014 from $94/bbl in 2012. The correlation between historical US upstream spending and inflation-adjusted oil prices is strong. The modestly reduced WTI oil price in the coming year and unfolding operational and logistical challenges in many new oil plays are dampening upstream spending growth in the US. Cramped cash flow due to low natural gas prices is also a constraint, especially for many US-based independents. With natural gas prices still depressed, oil and liquids-r...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected