U.S. oil drillers cut most rigs since May 2016: Baker Hughes
(Reuters) – U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter Continue Reading
Oil Prices Hold Steady As U.S., Canadian Oil Rig Count Take Steep Dive
Baker Hughes reported a 1-rig decrease for oil and gas in the United States this week—a loss in rigs for the second week in a row, with a 10-rig decrease Continue Reading
Chevron Raises 2019 Budget To $20 Billion
For the first time in four years, Chevron will spend more in 2019 than in the current year, with total spending at US$20 billion, the company said in a statement Continue Reading
US Oil Rig Count Drops by 10
US drillers cut 10 rigs this week. The U.S. dropped 10 oil rigs this week, according to weekly data compiled by Baker Hughes, a GE Company (BHGE). This week’s drop Continue Reading
Chevron Boosts Spending on Shale Projects
Chevron raises its spending budget for the first time since 2014. (Bloomberg) — Chevron Corp. raised its spending budget for the first time since 2014 even as crude prices plummet, Continue Reading
U.S. shale producers see OPEC pullback helping 2019 profits
U.S. shale producers cheered OPEC’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing. Continue Reading
U.S. oil drillers cut most rigs since May 2016: Baker Hughes
U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter for the Continue Reading
Permian Oil Reserves May Be Twice As Big As We Thought
The U.S. Geological Survey has revised the technically recoverable reserves in the Wolfcamp Basin, in the Permian shale play, to 46.3 billion barrels of crude and 281 trillion cu ft Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending November 30, 2018 U.S. crude oil refinery inputs averaged 17.5 million barrels per day during the week ending November 30, 2018, Continue Reading
Beginning of the End for Canada’s Tar Sands or Just a Blip?
Alberta’s tar sands are among the most carbon-intensive sources of oil. The Canadian province announced it would temporarily curtail oil production in 2019 in the face of a saturated market Continue Reading