Two years ago, when Saudi Arabia launched an unprecedented campaign to crush high-cost oil producers, in the process effectively putting an end to the OPEC cartel (at least until last Continue Reading
John Wood Group plc has cut its workforce by 36 percent over a two year period, the oilfield services company revealed Tuesday. “Following a sustainable overhead cost reduction of $148 Continue Reading
U.S. crude oil production increased for the second consecutive month in November 2016, the first time this has occurred since early 2015. Increased drilling activity in the Permian region, which Continue Reading
In the past, forecasters had a relatively simple method of estimating whether demand for oil would increase or decrease and by how much. For the most part, they simply looked Continue Reading
Mexico’s plans to develop its shale oil resources have finally taken a step forward following years of largely fruitless efforts by the state owned company Pemex. Canada’s Renaissance Oil and Continue Reading
While the Permian field has enjoyed a continued boom, with a rising rig count and an increase in investment activity, other U.S. onshore shale and tight oil fields haven’t been Continue Reading
In the land where oil jobs were once a guaranteed road to security for blue-collar workers, Eustasio Velazquez’s career has been upended by technology. For 10 years, he laid cables Continue Reading
A report from Houston-based consulting firm Graves & Co. shows that the industry has suffered more than 440,000 jobs lost since the beginning of the most recent downturn. The recent Continue Reading
The biggest gasoline market in the U.S. is bursting at the seams. Traders are lining up to export gasoline and diesel from New York Harbor, an area that normally relies Continue Reading
A gasoline glut brought on by drivers buying less at filling stations is emerging as one of the biggest threats to the yearlong oil-price rally. U.S. gasoline consumption plummeted last Continue Reading
