# Battered oil majors give guidance on Permian production, IMO 2020 impacts - FreightWaves

> ExxonMobil, Chevron and Shell reported sharply lower year-over-year third-quarter earnings on lower crude realizations. Analysts expect US oil output to rise 7.2% in 2020, with Permian pipeline takeaway capacity growing 2.4 million barrels per day.

- Date: 2019-11-01 · published 2019-11-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/56259-battered-oil-majors-give-guidance-on-permian-production-imo-2020-impacts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising US crude supply and new pipeline capacity weigh on WTI and reduce crude-by-rail demand, which is bearish for crude and related energy costs.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-04-22 | [Oil’s collapse and its effect on diesel prices - FreightWaves](https://feedsoft.ai/events/53806-oil-s-collapse-and-its-effect-on-diesel-prices-freightwaves.md) | +33.7% | +249.4% |
| WTI | 2020-10-12 | [Oil falls nearly 3% as production comes back online](https://feedsoft.ai/events/50803-oil-falls-nearly-3-as-production-comes-back-online.md) | +0.7% | -8.6% |
| WTI | 2021-07-16 | [Oil prices anticipate increase in production \| Reuters](https://feedsoft.ai/events/46225-oil-prices-anticipate-increase-in-production-reuters.md) | +0.6% | -3.6% |
| WTI | 2018-12-22 | [The FreightWaves oil report: a tumbling market pushes prices down to levels of mid-2017 - FreightWaves](https://feedsoft.ai/events/61736-the-freightwaves-oil-report-a-tumbling-market-pushes-prices-down-to-levels-of.md) | -0.5% | +15.7% |
| WTI | 2023-04-27 | [Oil market has absorbed surprise production cut by OPEC+](https://feedsoft.ai/events/36572-oil-market-has-absorbed-surprise-production-cut-by-opec.md) | -7.7% | +0.1% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/battered-oil-majors-give-guidance-on-permian-production-imo-2020-impacts

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.