US rig count drops by 25 to 1,183 in week ended November 28
The US rig count dropped by 25 on the week to 1,183 for the period ended November 28, posting small reductions in most of the eight large domestic oil and Continue Reading
Shale Patch Will Likely Cut Budgets Next Year
Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said. (Bloomberg) — Shale explorers will Continue Reading
U.S. crude stockpiles build for tenth straight week: EIA
U.S. crude oil stockpiles rose for a 10th week in a row last week even as refineries boosted output and exports increased, the Energy Information Administration said on Wednesday. Crude Continue Reading
Analysis: US crude stocks build for 10th week, defying expectations
Rebounding refinery utilization and stepped-up export activity failed to blunt US crude stock growth, which extended for a 10th consecutive week, US Energy Information Administration data showed Wednesday. Receive daily Continue Reading
Natural Gas Prices Fall Below Zero In Texas
Surging U.S. oil production in the Permian basin has helped crash oil prices. But the Permian is also home to skyrocketing natural gas production, and output is growing so fast Continue Reading
The romance of drilling for oil has peaked
When the price of crude oil goes through one of its periodic downturns, as it is doing now, it sends a shiver through the oil industry. History promises that higher Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending November 23, 2018 U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending November 23, 2018, Continue Reading
Oil Prices Steady After API Reports Crude Build, Gasoline Draw
The American Petroleum Institute (API) reported a crude oil inventory build of 3.453 million barrels for the week ending November 23, compared to analyst expectations that we would see a Continue Reading
Donald Trump may come to regret cheap oil
The day before Thanksgiving, US president Donald Trump thanked the Kingdom of Saudi Arabia for making oil cheaper. “Like a big tax cut for America,” is how he described it. Continue Reading
North Dakota OKs processing plant expansion in effort to reduce natural gas flaring
The North Dakota Public Utilities Commission approved a 150 MMcf/d expansion to Kinder Morgan’s Roosevelt gas processing plant in McKenzie County, increasing the total of significant new plants or expansions Continue Reading