Occidental Petroleum Corp ( OXY.N ) on Tuesday became the latest to join a growing list of hard-pressed North American oil producers slashing spending and drilling after crude prices slumped Continue Reading
Alaska, New Mexico and other states that benefited most from the nation’s energy boom may soon need to patch holes in their budgets due to a 45% dive in U.S. Continue Reading
Most shale oil wells drilled in the United States are unprofitable at current oil prices, Rystad Energy has warned. The Norwegian consultancy said, as quoted by Bloomberg, that drilling new Continue Reading
U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war. Saudi Aramco said that it would increase oil production to 12.3 million barrels per Continue Reading
In the wake of one of history’s largest oil price declines in a single day, a Rystad Energy impact analysis shows that US drilled but uncompleted wells (DUCs) will be Continue Reading
Oil stocks have suffered a lot over the past half decade. First it was the 2014 oil price crash. Just as the oil industry emerged from the collapse, the energy Continue Reading
America’s shale producers already had a profitability problem. It just got a lot worse. At a stroke, Saudi Arabia and Russia and their battle for market share have made almost all U.S. shale Continue Reading
It’s one for the history books. Oil opened on Monday down roughly 25 percent , the sharpest decline in decades, and broader financial markets fell so precipitously that the circuit Continue Reading
On Friday, the oil market’s worst fears came true: OPEC+ failed to agree on how to deal with the coronavirus’ effect on oil demand, sending oil prices plunging. But with Continue Reading
The world has become accustomed to ever-increasing production from U.S. shale reservoirs. As you can see in the chart in the next section production from these tight reservoirs has increased Continue Reading
