Why oil prices can’t rise very high, for very long
Oil prices are now as high as they have been for three years. At this writing, Brent is $74.14 per barrel and West Texas Intermediate is at $68.76. These prices Continue Reading
Which countries have the biggest oil reserves?
Oil is created from the decomposition of organic materials , which are under extreme heat and pressure over a period of millions of years. Oil is more common than you Continue Reading
Iran switches from dollar to euro
Iran’s feud with the US is set to get worse after Tehran announced yesterday that it will start reporting foreign currency amounts in euros rather than US dollars, as part Continue Reading
Shell’s Profits Soar From Strong Asian Demand
Oil major Shell has snapped up over 8 million barrels of June-loading crude oil grades from the Middle East and Russia and has resold some of the cargoes in Asia, Continue Reading
Private Chinese Chemical Giant Gets Largest-Ever Oil Import Quota
Hengli Petrochemical, a unit of private Chinese chemical giant Hengli Group, has obtained state approval to import 400,000 bpd of crude oil—the largest quota ever handed to a private Chinese Continue Reading
U.S. drillers add oil rigs for third consecutive week: Baker Hughes
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices Continue Reading
GE’s Baker Hughes first-quarter profit tops view on oilfield services growth
General Electric Co’s Baker Hughes posted a quarterly profit that beat Wall Street estimates on Friday as improving oil prices prompted companies to ramp up oil and gas production. U.S. Continue Reading
GasBuddy: With gas prices this high, it’s no wonder Trump is concerned
The surge in gas prices coming from higher crude oil prices means OPEC is canceling out the gains of U.S. consumers from a tax break, GasBuddy said Friday. U.S. retail Continue Reading
Schlumberger sees growing supply challenges
The oil and gas industry may need a significant amount of new investments to offset a looming supply shortage, the head of oil services firm Schlumberger said. Companies like Schlumberger Continue Reading
Bottlenecks curb output for shale player Sanchez
Despite gains in its drilling program, U.S. shale player Sanchez Energy said first-quarter production was impacted by incidents outside of its control. Total first quarter production for the company averaged Continue Reading