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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY
US shale executives are expecting record costs to increase according to the latest energy report by the Federal Reserve Bank of Dallas.
- Activity in the oil and gas sector rose in Q3 2023 with the business activity index increasing from 0 in Q2 to 10.9 in Q3 according to oil and gas executives responding to the Dallas Fed Energy Survey.
- The oil production index increased from 8.0 in Q2 to 26.5 in Q3 while the natural gas production index rose from 2.1 to 15.4.Most surveyed oil executives now expect drilling and fracking expenses to climb next year. The number of rigs drilling for oil are expected to remain unchanged in six months’ time according to 84% of the executives who operate firms in Texas, New Mexico and Louisiana.On average, respondents expect a WTI price of 88$/bbl at year end with a range of responses from 70$/bbl to 120$/bbl. Henry Hub natural gas is expected at 3.14$/mmbtu at year-end.
- “We are required to increase what we charge our customers for our services, which so far we have been able to do because of impending shortages of available equipment needed in our industry,” an unidentified respondent said in the report. “Bottom line, inflation pressures are not abating and are far from transitory.”
Source: Federal Reserve Bank of Dallas.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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