US oil rig count up 9 to 712 in week ended Friday: Baker Hughes
The US oil rig count rose by 9 to 712 in the week ending Friday, up from 318 a year ago, Baker Hughes said in its weekly report. The US Continue Reading
In Fight Against U.S. Shale Oil, OPEC Risks Lower for Longer
Saudi Arabia signals curbs will be rolled into next year Oil market attention shifts to potential oversupply in 2018 When Khalid Al-Falih arrived at Davos in late January, the Saudi Continue Reading
OPEC Raises Forecast for Rival Oil Output
OPEC on Thursday boosted its forecast for 2017 oil-production growth from countries outside the cartel by more than 60%. It is the latest evidence that surging U.S. production is dragging Continue Reading
OPEC Raises 2017 Estimate for Supply Growth From Rivals by 64%
Non-OPEC to grow 950,000 barrels a day in 2017, led by U.S. Outlook for non-OPEC now 4 times higher than at outset of cuts OPEC boosted estimates for growth in Continue Reading
U.S. Shale Spending Dwarfs Competition: Grows 10 Times Faster
While OPEC has just two weeks left until the May 25th meeting to decide on an extension of its production cuts, U.S. shale is back to drilling and planning capital Continue Reading
Oil bulls draw hope from fall in U.S. crude stocks:
U.S. crude stocks have shown a sustained decline over the last five weeks, giving oil bulls new inspiration that the market is rebalancing. Commercial crude inventories have fallen by 13 Continue Reading
Democratic senators snubbed with Atlantic energy move
A move to open up parts of the Atlantic to oil and gas activity by the Trump administration went against regional interests, a letter shows. The U.S. Interior Department said Continue Reading
U.S. crude oil inventories drop sharply as imports decline: EIA
U.S. crude stockpiles posted their biggest one-week drawdown since December last week as imports dropped sharply, while inventories of refined products also fell, helping boost oil prices that have been Continue Reading
Flows of gasoline and diesel into the Midwest fall as demand flattens and production grows
Over the past 10 years, increased refining activity and relatively flat demand in the Midwest—Petroleum Administration for Defense District 2 (PADD 2)—have allowed refiners in the region to meet a Continue Reading
All Washed Up? Shale Oil and Gas Drowns Out US Gulf of Mexico Shallows
More than 10,000 jobs in the US Gulf of Mexico may be lost, never to return, as shallow water drilling lands in the doldrums where experts say it will remain. Continue Reading