Monday Macro View – Is U.S. immune to an oil supply shock?
In this week’s Monday Macro View, we explore whether the U.S. economy is truly insulated from another oil supply shock. The Frac Spread Count slipped to 190, while Frac Job Count still held above year-ago levels, keeping the activity backdrop constructive. But with oil-driven inflation, diverging producer behavior, and Fed policy all in play, is shale strength enough to protect the broader economy? Read Monday Macro View.*
Market Sentiment Tracker – Are we seeing actual demand destruction?
In this week’s Market Sentiment Tracker, we explore whether the latest global data is pointing toward real demand destruction or just uneven economic pressure. U.S. services new orders remained firmly expansionary, while parts of Europe showed weaker PMI and credit signals. But are these cracks isolated, or are they the first signs of a broader slowdown readers need to watch closely? Read all of this in our Market Sentiment Tracker*.
Key Takeaways: ProPetro and TechnipFMC
In this week’s Key Takeaways, we explore ProPetro’s Q1 2026 perspective* as shifting frac demand, tighter equipment availability, and evolving fleet preferences reshape the completions market. Management is leaning into cost discipline while advancing its electric fleet strategy, and early pricing signals are beginning to improve. But with volatility still elevated, can PUMP turn industry constraints into a stronger growth opportunity?
We also delve into TechnipFMC’s Q1 2026* perspective as offshore activity gains momentum and Subsea demand continues to reshape the company’s outlook. Management points to improving order trends, stronger services activity, and growing adoption of newer project models that could enhance execution. But with larger opportunities still developing, can FTI convert today’s offshore momentum into a longer growth cycle?
Special Article: Ranking Pressure Pumpers
In this week’s pressure pumping ranking, we explore the sector’s competitive picture. Utilization remains high, frac spread attrition is reducing available supply, and pricing discussions are beginning to improve. But as power opportunities, capital discipline, and fleet quality gain importance, which pressure pumpers are best positioned for the next phase of the cycle?
Free Read: Is oil market operating on borrowed time?
In this week’s Free Read, we explore whether the oil market is operating on borrowed time as supply disruptions meet a fragile set of offsets. Bypass pipelines, U.S. exports, Chinese inventory drawdowns, and SPR releases have helped keep prices calmer than expected. But how long can these buffers hold before the market is forced to confront the real size of the supply gap?
If You’re Still Relying on Lagging Data, You’re Already Behind. EFRACS shows where activity is moving before production reacts.
Get Access to EFRACS: efracs.com