Oil glut predicted to continue next year
Tuesday, October 13, 2015
According to a report from the International Energy Agency, the oil glut will persist into 2016. FuelFix reports that demand growth will slow globally.
Worldwide oil consumption is predicted to be 95.7 million barrels per day in 2016. Last month, OPEC countries produced 31.72 million barrels of oil per day.
If international sanctions are lifted, more Iranian oil will add to the oversupply. Currently, the country produced 2.9 million barrels per day, but could produce 3.6 million barrels per day if an agreement related to its nuclear program is finished.
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.