Business operations will continue while Breitburn negotiates a restructuring of its balance sheet, continuing talks with creditors that began a month ago, Chief Executive Hal Washburn said in a release. Continue Reading
U.S. shale oil output is expected to fall in June for the eighth consecutive month, according to a U.S. government forecast on Monday, as the squeeze from a two-year rout Continue Reading
Uncontrolled forest fires forced the evacuation of some 8,000 oil-sands workers late Monday, nearly two weeks after more than 80,000 other people fled blazes that destroyed part of a nearby Continue Reading
OPEC said the global oil market is oversupplied and signaled the glut may increase this year, as surging output from its members makes up for losses from other countries whose Continue Reading
Russia Oil Oil markets are only a few months away from a much closer balance as demand holds steady and supply drops off. Several reports from the three major energy Continue Reading
Most of the world’s largest oil companies have cut research spending sharply since 2013 as they strived to save money in the face of the slump in crude prices, raising Continue Reading
Oklahoma Earthquake Damage Fracking in Oklahoma, as well as elsewhere, has been on the decline, thanks to the oil price slump. Quakes, however, are continuing at alarming rates. A CBC Continue Reading
With the number of uncompleted wells continuing to rise in the Bakken Shale, it is doubtful the 1 million b/d production level can be maintained into next year, North Dakota Continue Reading
Global spending in exploration and production over the next two years is expected to be about half what it was between 2012 and 2014, OPEC said in a monthly report. Continue Reading
OPEC forecast U.S. production this year will fall to 13.56 million barrels a day. Shrinking U.S. output and massive cuts to investment in new projects will reduce the global oil Continue Reading
