U.S. oil drillers cut rigs for second week in a row: Baker Hughes
U.S. energy firms cut oil rigs for a second week in a row this week, prolonging a move by drillers over the past month to reduce the number of active Continue Reading
North Dakota oil output averages record 1.39 million b/d in October
North Dakota’s oil output averaged over 1.39 million b/d in October, up nearly 32,600 b/d from September and another monthly production record, the North Dakota Pipeline Authority reported Friday. The Continue Reading
Occidental Wants to Keep Rigs Running amid Oil Price Drop
Occidental Petroleum Corp. will look for ways to cut costs other than dropping rigs, in response to the recent slump in oil prices, according to Chief Executive Officer Vicki Hollub. Continue Reading
US Oil Rig Count Drops for Second Week in a Row
US drillers cut four rigs this week. For the second week in a row, the U.S. dropped oil rigs, according to weekly data compiled by Baker Hughes, a GE Company. Continue Reading
Last Week, The US Ended Its Reliance On Foreign Oil
For the first time in 75 years, the U.S. became a net exporter of oil last week. From Bloomberg : The shift to net exports caps a tumultuous week for Continue Reading
International Energy Agency Oil Market Report
Highlights (13 December 2018) *Please note that these Highlights are from the latest Oil Market Report, which is released in full to subscribers only – according to this schedule each month. Nonsubscribers Continue Reading
Hess Corp sees oil output growing 10 percent per year through 2025
Pumpjacks taken out of production temporarily stand idle at a Hess site while new wells are fracked near Williston, North Dakota November 12, 2014. REUTERS/Andrew Cullen/File Photo HOUSTON (Reuters) – Continue Reading
US EIA reports largest propane draw of season, demand hits 2.6 million b/d
US propane inventories showed the largest draw of the season so far as total demand rose to 2.6 million barrels in the week ended December 7, Energy Information Administration data Continue Reading
US Shale Becomes Oil Industry’s Safe Haven
Big oil is investing more in U.S. shale, not less, after the recent tumble in crude prices. (Bloomberg) — Big Oil is investing more in U.S. shale, not less, after Continue Reading
Big Oil Doubles Down On Shale Despite Price Drop
It’s the time of the year when oil companies start announcing their budgets for next year and besides a steady albeit guarded optimism, one thing stands out: oil majors are Continue Reading