Oil Drops as Prospects Fade for OPEC Deal
Pipelines at the Zueitina oil terminal in Libya. OPEC members Nigeria, Libya and Venezuela want… Oil prices fell Tuesday as hopes for any deal between the Organization of the Petroleum Continue Reading
Oil prices fall as Venezuela says market is 10 percent over supplied
Oil prices fell on Tuesday after Venezuela said that global crude supplies needed to fall by 10 percent in order to bring production down to consumption levels, confirming analyst views Continue Reading
Oil Prices Rise on Libya Unrest
Oil prices edged higher Monday after fighting engulfed Libya’s key Eastern crude-oil ports over the weekend. Brent crude for November delivery rose 1.14% to $46.28 a barrel on London’s ICE Continue Reading
Shifting Strategies: Big Oil Looking At Low-Cost Fields
Oil workers Oil supermajors have come to realize that shrunk capex plans will make their exploration efforts profitable in lower-cost, lower-risk areas, and have changed drilling tactics to the ‘less Continue Reading
Venezuela says global oil supply exceeds demand by 10 percent
Global oil supply of 94 million barrels per day needs to fall by about a tenth if it is to match consumption, Venezuela’s Oil Minister Eulogio Del Pino said on Continue Reading
Venezuela Crises Compound as Oil Industry Falls Into Disarray
One oil rig was idle for weeks because a single piece of equipment was missing. Another was attacked by armed gangs who made off with all they could carry. Many Continue Reading
North Dakota shale on slow recovery
North Dakota shale activity slowly increasing, though some players are still waiting around for oil to hit $60 per barrel, state official said. Photo by David Gaylor/Shutterstock BISMARCK, N.D., Sept. Continue Reading
Easy resolution unlikely for contentious Dakota pipeline
A potential rerouting of a long-anticipated pipeline at the center of a protest in North Dakota would be a laborious and costly task, possibly delaying a startup by months and Continue Reading
Texas economy still under pressure
The number people in Texas who want to work full time but can’t find jobs in the oil-rich economy remains above recessionary levels, a report found. The Federal Reserve Bank Continue Reading
The United States is both a major importer and exporter of motor gasoline
The United States simultaneously imports and exports gasoline because of regional differences in gasoline supply and demand balances. The two regions with the largest supply and demand imbalances are the Continue Reading