Oil Rig Count Increases Amid Price Rout
Baker Hughes reported that the number of oil and gas rigs in the US rose this week by 3 to 793, with the total oil and gas rigs clocking in Continue Reading
U.S. Net Petroleum Exports Hit Highest Ever In February
The United States was a net exporter of crude oil and petroleum products last month, with the four-week average net imports at a negative 907,000 barrels per day (bpd) in Continue Reading
Exxon Hits the Brakes on Permian After Virus Pummels Oil
It’s one of the first signs that the majors are throttling back on production in response to the recent price slump. (Bloomberg) — Exxon Mobil Corp. is slowing the pace Continue Reading
Global oil demand set to shrink first time in decade as coronavirus spreads
Oil demand is set to contract in 2020 as the coronavirus outbreak widened to 72 countries outside China as of Wednesday, threatening to put more pressure on the global economy Continue Reading
China independent refineries’ Feb crude imports fall to 6-month low at 2.8 mil b/d
Crude imports for China’s independent refineries fell 19.7% to a six-month low of 2.76 million b/d, or 10.9 million mt, in February, from a record-high of 3.43 million b/d in Continue Reading
In Major Upset, Texas Oil Regulator Loses Republican Primary
A gas flare burns in the Permian Basin area of Garden City, Texas. A member of the top energy regulator in Texas lost his place on November’s ballot to a Continue Reading
Kinder Morgan exec expresses uncertainty over future of Permian Pass natural gas pipeline proposal
Kinder Morgan cannot be sure its proposal to build a third natural gas pipeline serving the Permian Basin will move forward amid challenges securing commercial support and volatile energy markets, Continue Reading
US Oil Production Sets 2019 Record
Annual US crude oil production reached another record level at 12.23 million barrels per day in 2019, according to the EIA. Annual U.S. crude oil production reached another record level Continue Reading
Cash-strapped US shale producers pray for Opec aid
The sharp drop in the oil price since the coronavirus outbreak has left US shale producers hanging on for survival, and dependent on their big rivals in Opec to come Continue Reading
Coronavirus ‘to cut 2020 oil and gas investments by $30bn’
The outbreak of the coronavirus disease is to cause extensive staffing and supply shortages in the oil and gas industry, as well as a fall in investment of around $30 Continue Reading