Twitter round-up: David Sheppard’s tweet on WTI crude oil prices top tweet in March 2020

24 April 2020 (Last Updated June 19th, 2020 12:50)

Offshore Technology lists ten of the most popular tweets on exploration in March 2020, based on data from GlobalData’s Influencer Platform.

Twitter round-up: David Sheppard’s tweet on WTI crude oil prices top tweet in March 2020

Crude oil prices featured heavily in top tweets chosen from influencers as tracked by GlobalData’s Influencer Platform, which is based on a scientific process that works on pre-defined parameters. Influencers are selected after a deep analysis of the influencer’s relevance, network strength, engagement, and leading discussions on new and emerging trends.

Top tweets on exploration in March 2020

1. David Sheppard’s tweet on fall in WTI crude oil prices

David Sheppard, a reporter, tweeted about the fall in price of West Texas Intermediate (WTI) at Cushing to less than -$20. He added that the fall in prices of WTI Midland to less than $7 a barrel was far worse and predicted a total collapse in the industry.

Username: David Sheppard

Twitter handle: @OilSheppard

Retweets: 774

Likes: 793

2. Ed Crooks’ tweet on oil price crash reviving interest in renewable energy

Ed Crooks, Vice Chair at Wood Mackenzie, tweeted that the fall in oil prices could divert capital towards renewable energy projects.

He added that when crude was priced at $60 per barrel, the returns from oil were higher. As oil prices have fallen, returns from wind and solar are now on par with the returns from oil.

Username: Ed Crooks

Twitter handle: @Ed_Crooks

Retweets: 130

Likes: 200

3. Anas Alhajji’s tweet on consequences of fall in crude oil prices

Anas Alhajji, an energy markets expert, tweeted on the consequences of oil price fluctuations. He noted that if oil prices remain at the current levels until November, global oil production will decline by 1.8 million barrels per day. Production from the OPEC members is also expected to fall, he added.

Alhajji noted that the consequences of these developments will result in a drawdown in storage followed by a shortage. He added that demand will return to normal within a short duration and increase above normal.

Username: Anas Alhajji

Twitter handle: @anasalhajji

Retweets: 54

Likes: 121

4. Dick Winchester’s tweet on oil price collapse

Dick Winchester, a strategy consultant and adviser, tweeted that the oil price collapse is the result of Russian president Vladimir Putin’s unwillingness to support a proposal made by Saudi Arabia to lower production to maintain the price of oil.

Winchester added that Putin’s goal was to damage western oil markets and boost Russian oil market share.

Username: Dick Winchester

Twitter handle: @DickWinchester

Retweets: 40

Likes: 75

5. Samir Madani’s tweet on shale breakeven costs

Samir Madani, an oil and gas consultant, shared results of surveys carried out by the Federal Reserve of Dallas on the lowest breakeven prices needed to restart shale oil production. The oil price at the time of the survey in mid-March was at breakeven for new wells in the shale plays.

The survey asked more than 62 exploration and production companies the WTI oil prices needed to profitably drill a new well. Companies responded with prices ranging between $46 per barrel and $50 per barrel. Companies operating non-shale plays responded with prices ranging between $25 per barrel and $100 per barrel.

Username: Sam

Twitter handle: @Samir_Madani

Retweets: 31

Likes: 56

6. Summer Said’s tweet on Saudi Arabia’s plans to cut oil production

Summer Said, a journalist, tweeted on Saudi Arabia proposal to the OPEC, which requires the group to reduce oil production by 600,000 barrels per day. Under the proposal, Saudi Arabia will also cut production by 400,000 barrels per day.

Username: Summer Said

Twitter handle: @summer_said

Retweets: 48

Likes: 54

7. Svein T veitdal’s tweet on shortage of storage space for oil

Svein T veitdal, owner and director of Kilma2020, shared an article on how the COVID-19 pandemic is leading to a shortage in storage space for oil across the world. Oil storage levels in majority of the world’s storage facilities have reached more than 70% due to fall in demand.

The oversupply of oil is expected to further increase in April as Saudi Arabia and OPEC’s deal to hold production ends. Saudi Arabia plans to ramp up production to grab a bigger share of the market, the article adds.

Username: Svein T veitdal

Twitter handle: @tveitdal

Retweets: 43

Likes: 32

8. Anjli Raval’s tweet on oil production becoming uneconomic

Anjli Raval tweeted an article, which states that 10% of global oil production will become uneconomic if the price of Brent holds at $25 per barrel for a longer period of time.

Such a situation is expected to force companies to lower production and shut-in projects in a bid to stay afloat, the article adds.

Username: Anjli Raval

Twitter handle: @AnjliRaval

Retweets: 32

Likes: 42

9. Anas Alhajji’s tweet on decline in rig count

Anas Alhajji tweeted on the possible decline in rig count in the US to 450, if the crude oil prices remain the same until June 2020. He added that crude oil production will decline by at least 500,000 barrels per day during the same period.

Username: Anas Alhajji

Twitter handle: @anasalhajji

Retweets: 47

Likes: 191

10. Samir Madani’s tweet on clearing refined oil products

Samir Madani urged oil producing nations having a huge stockpile of refined products to halt oil production and ship the existing products. He urged them to sell all the current stock of oil and only resume production when demand increases.

Username: Sam

Twitter handle: @Samir_Madani

Retweets: 12

Likes: 50