U.S. Rig Count Increases Sharply Amid Rising Crude Output
US drillers added 13 rigs to the number of oil and gas rigs this week, according to Baker Hughes, adding 10 active oil rigs and 3 active gas rigs. The Continue Reading
Defense and energy can co-exist offshore, industry says
Oil and gas operations in parts of the U.S. Gulf of Mexico can coexist with national defense priorities, industry supporters said of a Pentagon review. The U.S. Department of Defense Continue Reading
U.S. drillers add oil rigs for sixth consecutive week: Baker Hughes
U.S. energy companies added oil rigs for a sixth week in a row as crude prices continue to soar to multi-year highs after new sanctions on Iran are anticipated to Continue Reading
Oil: Deficit to put market on the offensive – Deutsche Bank
Deutsche Bank’s Michael Hsueh noted the possibility of a 2019 oil market deficit could soon put the oil market on the offensive, unless OPEC intervention begins to compensate for growing Continue Reading
Texas oil drilling permits rose 34 percent in April
Texas’s energy regulator issued a third more oil and gas drilling permits in April than a year ago, according to data released on Thursday, as higher prices continue to spur Continue Reading
ETP Plans 600,000 Bpd Oil Pipeline From Permian To Texas Coast
Energy Transfer Partners said on Thursday it plans to build a crude pipeline from the Permian basin in Texas to the Houston Ship Channel and Nederland, Texas, which will have Continue Reading
Permian Bottleneck Provides Huge Opportunity For Oil Traders
Oil production in the fastest-growing U.S. shale play, the Permian, continues to boom, while takeaway capacity has not kept up. Pipeline availability issues have led to a major discount on Continue Reading
U.S. Pullout From Iran Nuclear Deal May Unsettle Oil Markets
President Trump’s decision to withdraw from the Iran nuclear deal has so far had no more than a muted effect on oil and gasoline prices. But that could easily change. Continue Reading
IEA: Return Of Iran Sanctions Could Impact Oil Market Balance
The restoration of sanctions on Iran—the world’s fifth-largest oil exporter—may have implications for the market balance, the International Energy Agency (IEA) said in a statement on Wednesday, adding that it Continue Reading
US oil producers battle to meet Iran shortfall
As President Donald Trump’s decision to reinstate sanctions on Iran sends oil prices higher, consumers and the administration might hope that US producers could come to the rescue with increased Continue Reading