The U.S. is working on ways to expand storage space to add several hundred million more barrels to it, Treasury Secretary Steven Mnuchin said at a White House briefing, as Continue Reading
The US oil and gas rig count fell 59 to 432 during the week ended April 29, rig data provider Enverus said Thursday, as upstream players continued to idle oil Continue Reading
Receive daily email alerts, subscriber notes & personalize your experience. Register Now ConocoPhillips will increase its near-term oil production cuts beyond the 225,000 b/d gross originally signaled two weeks ago, Continue Reading
The orange flames that dot the Permian Basin have sparked criticism from investment bankers and shale pioneers who say the energy industry is wasting a valuable resource by burning off Continue Reading
In just over a month, scores of drilling rigs have been dismantled and tucked away in storage yards. Pump jacks, those piston pumps that lift crude out of the ground, Continue Reading
It is very common today to read about shutting-in of producing oil and gas wells to reflect the reality there are fewer and fewer places to store oil right now. Continue Reading
U.S. shale oil producers have so far held up admirably, hanging on for dear life amidst the biggest oil demand collapse in history. American producers continued to pump at record Continue Reading
The United States has been on the opposite side of the OPEC oil cartel for decades in a great battle between the free market and supervised production levels. All that Continue Reading
Some oil fields are set to suffer chaotic stoppages despite efforts by OPEC+ to mitigate the impact of coronavirus on global markets, the International Energy Agency warned. “Lockdown measures have Continue Reading
The Trump administration may announce as soon as Thursday a plan to offer loans to the ailing oil industry possibly in exchange for a financial stake, according to two people Continue Reading
