Rig Count Falls As U.S. Oil Output Flatlines
Baker Hughes reported another dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 7 rigs , according to Continue Reading
Unfracked Wells Growing as Permian Pipe Scarcity Worsens
Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. (Bloomberg) Continue Reading
Signs of OPEC consensus on output pushing oil prices lower
Crude oil prices moved deep into negative territory in early Thursday trading amid expectations of a consensus agreement from OPEC on future production. The International Energy Agency has said the Continue Reading
Supreme Court supports recount, raises new questions
Iraq’s highest court largely backed a Parliament law requiring a manual recount of the May 12 elections, but political leaders disagree about how to interpret the ruling. Iraq’s Federal Supreme Continue Reading
Wood Mac: Expect moderate action from OPEC
Expect some sort of Goldilocks scenario from OPEC on future supplies, though talks under way in Vienna are increasingly contentious, a consultant group said. Ministers from the Organization of Petroleum Continue Reading
U.S. economy less exposed to oil price shocks
U.S. economy not as exposed to spikes in crude oil prices as it was in the 1970s, the Federal Reserve Bank of Dallas found. File Photo by John Angelillo/UPI June Continue Reading
OPEC, Russia Promise More Oil, but Can They Pump Enough?
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
Keeping OPEC/non-OPEC oil output cuts could lead to severe Q3 market tightness: Novak
Peak summer demand could drain global oil inventories to critical levels if the OPEC/non-OPEC coalition leaves its production cut agreement in place, Russian energy minister Alexander Novak said Tuesday. That Continue Reading
US energy to be targeted by Beijing for retaliatory action
China is lining up retaliatory tariffs against the US to hit one of its most successful export industries in recent years: energy. Sales of US oil, gas and coal to Continue Reading
Can Oil Pull Greece Out Of Poverty?
In its eighth year of paralyzing austerity, Greece is facing another hot summer. Political controversies will be even more heated than the blessed Peloponnese climate, as the Tsipras Government is Continue Reading