U.S. Oil-Rig Count Climbs by 15, Baker Hughes Says
The number of rigs drilling for oil in the U.S. rose by 15 in the past week to 566, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
U.S. Shale Won’t Pilfer OPEC, Russian Markets, Former Energy Minister Says
A former Russian energy minister on Friday dismissed concerns U.S. shale oil companies may try to use production cuts by Russia and nations in the Middle East to swoop in Continue Reading
Chevron’s Q4 Earnings Miss Estimates By A Mile
Chevron Corporation ( NYSE:CVX ) reported on Friday earnings of US$0.22 per share for the fourth quarter, compared with a loss of US$0.31 per share for the fourth quarter of Continue Reading
Oil Heads for Second Weekly Gain as OPEC Continues Output Cuts
Oil headed for a second weekly increase as OPEC and other producing nations continued with output cuts to reduce bloated global inventories and stabilize the market. Front-month futures rose 0.4 Continue Reading
Oil prices stable as U.S. output gains offset OPEC-led cuts
Oil prices were stable on Friday, with rising crude output from the United States offsetting efforts by OPEC and other producers to prop up the market by cutting supplies. Brent Continue Reading
Oil Climbs Despite Higher U.S. Inventories
Oil futures rose Thursday, as traders shrugged off another big jump in U.S. oil inventories and remained focused on promised production cuts. U.S. crude futures gained $1.03, or 1.95%, to Continue Reading
Baker Hughes says only higher oil prices will spur international spending
Oilfield services provider Baker Hughes Inc, which is being acquired by General Electric Co, said crude oil prices would need to rise by roughly another 15 percent to spur producers Continue Reading
Oil oversupply double world’s needs for 50 years
The world has access to more than twice as much oil as it will need between now and 2050, which will dampen the long-term outlook for prices, according to BP. Continue Reading
BP: Global Energy Demand to Grow by a Third
Global energy demand will grow by around a third, driven by a burgeoning Asian middle-class, according to BP’s latest energy outlook. “Global demand grows by around a third in the Continue Reading
Is The Oil Crisis Over? Oil Majors Report Positive Cash Flow
Rising oil prices and spending cuts over the past two to three years have improved the cash flow position for many of the oil majors, lessening the prospects of a Continue Reading