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Oil Well Strippers Suffering From Low Oil Prices

Green Car Congress

DECEMBER 10, 2015

With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil.

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EIA: China’s use of methanol in liquid fuels has grown rapidly since 2000; >500K bpd in 2016

Green Car Congress

FEBRUARY 23, 2017

The report estimates consumption to have been more than 500,000 barrels per day (b/d) in 2016. Consumption of MTBE and other derivatives in China was estimated at 230,000 b/d in 2016. MTG units involve high capital costs and are only cost-competitive when oil prices are high.

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