Permian Basin Economic Indicators
Employment in the Permian Basin in the second quarter increased while wages remained stable. Oil prices fell as production reached a new high, but the rig count declined. Home prices in Midland–Odessa increased, and sales dropped dramatically.
August 21, 2023
Energy Indicators
The annual U.S. Energy and Employment Report (USEER) from the Department of Energy shows solar dominated electricity generation employment in 2022 and petroleum lead fuels employment.
August 16, 2023
Research Department Working Papers
How to Construct Monthly VAR Proxies Based on Daily Futures Market Surprises
This paper provides a new approach to constructing monthly proxies from daily surprises that takes account of the link between daily and average monthly price data and revisits the question of how to use OPEC announcements to identify news shocks in VAR models of the global oil market.
July 31, 2023
Research Department Working Papers
Global Transportation Decarbonization
A number of policy proposals call for replacing fossil fuels in the name of decarbonization, but these fuels will be difficult to replace due to their as-yet unrivaled bundle of attributes: abundance, ubiquity, energy density, transportability and cost.
July 31, 2023
Energy Indicators
Oil and gas executives expect West Texas Intermediate (WTI) crude oil to end the year as high as $80 a barrel. Employment growth in the oil and gas sector is increasing at a slower rate compared with last year’s period of heightened energy prices, but it is still at robust levels.
July 13, 2023
Surveys
Dallas Fed Energy Survey
Activity in the oil and gas sector was unchanged in second quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey.
June 22, 2023
Energy Indicators
Oil prices were affected little by Saudi Arabia’s decision to cut 1 million barrels a day (mb/d) in July. Crude and other liquids inventories in developed nations have been declining over the past year but are expected to rise through the end of 2024.
June 16, 2023
Permian Basin Economic Indicators
Permian Basin employment slipped 0.2 percent over the first three months of 2023 even though the mining, logging and construction sector grew 8.5 percent. The region’s rig count is down as the price of oil has declined from its peak last summer.
June 02, 2023
Energy Indicators
In a surprise move at the beginning of the month, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced a voluntary reduction in production quotas of nearly 1.7 million barrels per day (mb/d).
May 25, 2023
Energy Indicators
In a surprise move at the beginning of the month, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced a voluntary reduction in production quotas of nearly 1.7 million barrels per day (mb/d).
May 17, 2023