U.S. Rig Count Slips Amid Retreat In Crude Prices
The number of total active drilling rigs in the United States dropped by 5 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
This decade’s oil boom is moving offshore – way offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
This decade’s oil boom is moving offshore – way offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
The World’s Energy Problem Is Far Worse Than We’re Being Told
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… Citizens around the world can Continue Reading
Diesel Pinch Looms
The global diesel market looks set to get even tighter. The global diesel market looks set to get even tighter as power generators and industrial users seek relief from surging Continue Reading
US Shale Could Erase Debt by 2024, Freeing Up Cash for Gas Pivot
US shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas Continue Reading
Oil Prices Rise On Major Crude Inventory Draw
The American Petroleum Institute (API) reported a large draw this week for crude oil of 5.632 million barrels, while analysts predicted a draw of 448,000 barrels. The build comes as Continue Reading
Oil Climbs as Easing US Stockpiles Adds to Tightening Outlook
Oil storage tanks in Cushing, Oklahoma. Photographer: Daniel Acker/Bloomberg Oil rallied for a second day as an industry report signaled another drawdown in US crude inventories, adding to a tightening Continue Reading
U.S. Strategic Petroleum Reserve Falls To 35-Year Low
The United States’ Strategic Petroleum Reserve (SPR) now has only 453.1 million barrels in its inventory, following another significant drop in the past week that puts the emergency reserve at Continue Reading
U.S. oil & gas rig count falls for third week in a row, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs for a third week in a row even as they slowly increase production to pre-pandemic levels Continue Reading