Texas energy regulators began debating Tuesday whether the state should impose 20% crude oil output cuts on producers to help stabilize prices amid the global coronavirus pandemic. The issue is Continue Reading
The US Energy Department is negotiating with nine companies to rent about 23 million barrels of oil storage capacity in its SPR. (Bloomberg) — The U.S. Energy Department is negotiating Continue Reading
Any argument that the Texas Railroad Commission (RRC) should not even consider proration is simply misinformed. That’s what RRC commissioner Ryan Sitton believes, according to a statement posted on the Continue Reading
Oil and gas production in the United States has peaked and is already in decline. The latest data from the EIA’s Drilling Productivity Report sees widespread production declines across all Continue Reading
China’s oil imports may have declined in March, a Reuters poll of 31 economists showed on Monday, while experts expect China’s economy to have sharply contracted in the first quarter Continue Reading
President Trump promised the U.S. would curtail oil output in a pact with major producers over the weekend. There isn’t much for him to do: The dismal economics and strained Continue Reading
Baker Hughes Co. said it is pursuing a restructuring plan that will result in about $1.8 billion in charges and expects to book a roughly $15 billion goodwill impairment charge Continue Reading
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
Shortly after Mexico won a historic “Mexican standoff” with Saudi Arabia on Sunday afternoon, and was exempt from a historic 9.7mmb/d oil production cut by OPEC+ member states (which Mexico Continue Reading
US shale oil production will fall to 8.53 million b/d in May, down 183,000 b/d from April, with declines seen in every major basin, the Energy Information Administration said Monday. Continue Reading
