Small Crude Draw Fails To Boost Oil Prices
The American Petroleum Institute (API) reported an inventory draw in crude oil. This week, the API estimated the inventory draw for crude oil to be 747,000 barrels. U.S. crude inventories Continue Reading
Oil firms face workforce crunch as renewables beckon -survey
The oil and gas industry risks a huge workforce shortage as more than half of workers in the sector seek to move into the renewable energy industry, a survey published Continue Reading
Shale Oil’s Newfound Production Discipline Begins to Pay Off
Shale drillers’ newfound commitment to production discipline appears to be paying off as crude plunges toward a bear market. While West Texas Intermediate crude is poised for the biggest monthly Continue Reading
Oil firms face workforce crunch as renewables beckon -survey
The oil and gas industry risks a huge workforce shortage as more than half of workers in the sector seek to move into the renewable energy industry, a survey published Continue Reading
Shale Drillers Aren’t Heeding Biden’s Call for More Oil Supply
Shale explorers in the U.S. are showing no sign of accelerating the pace of deployment for drilling rigs, despite criticism from the Biden administration that they’re holding back on production Continue Reading
Baker Hughes: US rig count up 6 to 569
The US drilling rig count increased by 6 units to reach 569 rigs working for the week ended Nov. 24, according to Baker Hughes data. The count is up 249 Continue Reading
U.S. to sell 32 mln bbls from 4 sites as part of strategic sale
The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) Continue Reading
Shale oil’s slower investment sparks new tension with White House
As the Biden administration and allies scramble to deliver more oil to market through stockpile releases, shale producers are tapping the brakes on reinvestment, according to new data, a sign Continue Reading
U.S. energy secretary: companies making huge profits, should increase oil supply
U.S. Energy Secretary Jennifer Granholm on Tuesday urged U.S. energy companies to increase oil supply amid “enormous profits” as President Joe Biden seeks to bring down the price of gasoline Continue Reading
Shale Patch Sees Limited Impact from Biden’s Unusual Oil Release
The Biden administration’s unprecedented , coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the Continue Reading