Permian Oil Giant Suffers Large First Quarter Loss
Apache Corp became the latest oil major to report a negative net result for the first quarter, booking a loss of $4.5 billion, or $11.86 per share for the period. Continue Reading
Analysis: US oil and gas rig count falls 34 to 398 as Permian collapse extends
The US oil and gas rig count fell 34 to a total of 398 in the week ended May 6, as Permian basin drilling activity continued to decline, rig data Continue Reading
Hess expands 2020 spending cuts, reduces rigs in Bakken
Highlights Bakken output expected to decline Charters VLCCs to store Bakken Defers Payara activities in Guyana New York — Hess is expanding its 2020 spending cuts in response to low Continue Reading
U.S. Jobs Report to Offer Clearest Data Yet on Economic Toll: Live Updates
We’re about to learn more about how devastating the pandemic has been for American workers. Even by the standards of the coronavirus pandemic, Friday’s report on employment in the United Continue Reading
New Breed of Pickups Mixes Horsepower and Battery Power
The electric future, as dreamed up in the 1990s, centered on groundbreaking cars like General Motors’ EV1 : tiny, faceless transportation pods, their sci-fi bubble shapes a testament to aerodynamic Continue Reading
Some Shale Drillers Are Restarting Production At $25 Oil
U.S. oil prices slumped into negative territory less than a month ago as storage space fills up fast. And yet it appears that some producers are ready to start drilling Continue Reading
As Local Health Systems Buckle, Russia’s Oligarchs Take Charge
As the coronavirus pandemic gained pace in Russia this spring, a billionaire steel magnate, Aleksei A. Mordashov, called four regional governors and urged them to lock down the cities where Continue Reading
Why Is Russian Crude So Expensive?
One of the main reasons why the coronavirus-induced price slump feels so odd is that it is accompanied by a prolonged price war that has simultaneously dropped crude differentials, in Continue Reading
Oil Anchored Near $24 on Lingering Concerns About Global Glut
Oil was anchored near $24 a barrel as investors weigh the prospect of a demand recovery against a huge glut that’s testing global storage capacity limits. Futures were stable in New York Continue Reading
OIL FUTURES: Oil snaps upward streak as demand outlooks dim
US unemployment to likely top 20 million in April Product futures slide as demand declines US crude production slide accelerates, backstopping prices Oil futures settled lower Wednesday as renewed demand Continue Reading