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CIR Research Desk

CIR Research Desk

OPEC at a 26-Year Low, Kuwait at Zero: What Monday's Close Tells Operators About This Week

OPEC at a 26-Year Low, Kuwait at Zero: What Monday's Close Tells Operators About This Week

OPEC's April production hit a 26-year low at 20.04 million bpd. Kuwait exported zero crude for the first time since the Gulf War. Trump-Xi talks in Beijing this week are the market's live variable.

KGS Hits Record Quarter, Pivots to Data Centers — WTI Gaps Up $2 on Iran Rejection

KGS Hits Record Quarter, Pivots to Data Centers — WTI Gaps Up $2 on Iran Rejection

WTI gaps up $2 after Trump rejects Iran framework. Kodiak Gas Services Q1: record $190M EBITDA and a 2-gigawatt data center power ambition. Frac sector reset ahead.

WTI Gives Back $10 on the Week: What the Rig Count Says About Operator Conviction at $95

WTI Gives Back $10 on the Week: What the Rig Count Says About Operator Conviction at $95

WTI lost nearly $10 on the week as US-Iran signals kept markets off-balance. Baker Hughes data shows operators added 2 oil rigs anyway. CIR reads Friday's numbers.

Week in Review: Devon-Coterra Closes, WTI Retreats From $110

Week in Review: Devon-Coterra Closes, WTI Retreats From $110

Devon-Coterra closed May 7, creating the largest Delaware Basin operator. WTI ran to $110 before pulling back to $95. Friday's brief: the week in review, the price reset, and what comes next.

Devon-Coterra Is Closed, Permian Resources Is Investment Grade, and WTI Holds $109

Devon-Coterra Is Closed, Permian Resources Is Investment Grade, and WTI Holds $109

Devon Energy's 8-K landed in EDGAR Thursday afternoon: a two-page Item 2.01 filing confirming the merger with Coterra Energy is done. Coterra shareholders received 0.70 shares of Devon for every share held, and the combined company began trading as a unified entity before Thursday&

Delaware Basin's New Giant: Devon-Coterra Closes as SM Energy Proves the Integration Thesis

Delaware Basin's New Giant: Devon-Coterra Closes as SM Energy Proves the Integration Thesis

Devon-Coterra closes today. SM Energy delivers its first post-Civitas beat. WTI at $109 with Hormuz disruption intact. Here's where US upstream stands Thursday morning.

Murphy Oil Q1 2026: Eagle Ford Efficiency, Chinook Deepwater, and Vietnam on the Horizon

Murphy Oil Q1 2026: Eagle Ford Efficiency, Chinook Deepwater, and Vietnam on the Horizon

Murphy Oil spent the first quarter proving that a mid-cap independent with a genuine international portfolio still plays differently than the Permian-only operators that have dominated CIR coverage this earnings season. The company reported Q1 production of 174,236 BOEPD — exceeding the high end of its guidance range