Drones attacked Abqaiq facility in Saudi Arabia and the Khurais oil field run by Saudi Aramco early Saturday morning, the kingdom’s interior ministry said, sparking a massive fire at a crude processing plat essential to global oil supplies. The closure will impact nearly 5 million barrels of crude processing per day, affecting 5 percent of the world’s […]
The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 3.1 million barrels for the week ended April 12, according to… — Read on http://www.marketwatch.com/story/oil-prices-edge-up-api-data-reportedly-show-an-unexpected-decline-in-us-crude-supply-2019-04-16Read more "Oil prices edge up; API data reportedly show an unexpected decline in U.S. crude supply – MarketWatch"
Oil prices rise as API data reportedly show a surprise decline in U.S. crude supplies – MarketWatch — Read on http://www.marketwatch.com/story/oil-prices-rise-as-api-data-reportedly-show-a-surprise-decline-in-us-crude-supplies-2019-02-26Read more "Oil prices rise as API data reportedly show a surprise decline in U.S. crude supplies – MarketWatch"
Weatherford International’s stock is trading below $1 a share. Schlumberger expects growth in its shale business to flatten or decline. General Electric reduced its ownership stake of Baker Hughes. Halliburton’s stock market value has fallen below what it was at one of the worst points of the last oil bust. Energy services companies are facing […]Read more "Oilfield services companies face another tough slog – HoustonChronicle.com"
NEW YORK (Reuters) – Oil prices jumped nearly four percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply. Brent crude futures rose $2.23 to settle at $61.69 a barrel, […]Read more "Oil surges almost 4 percent on trade truce, expected supply cuts | Reuters"
If OPEC thought the 26 percent drop in oil prices since October might rein in U.S. shale production like the last sharp drop did four years ago, it might have to think again. U.S. shale firms are more profitable than ever after a strong third quarter, according to a Reuters analysis of results for 32 […]Read more "U.S. shale surge boosts industry finances, puts deals in spotlight | Reuters"
The Houston economy has largely recovered from the two-year oil downturn that began in 2014 and economic indicators suggest solid growth ahead for the region, according to analysis by a University of Houston economist. The local economy, after struggling in recent years, is again adding jobs at a strong pace, supported by oil prices above […]Read more "Forecaster: Houston economy has recovered from downturn – HoustonChronicle.com"
The American oil industry is in the best condition it has been in decades. Shale drilling has unlocked billions of barrels of oil across the Lower 48, and companies are getting good enough at extracting it that many can pull it out of the ground for less than $50 a barrel compared with upwards of […]Read more "U.S. Oil Producers Are “Missing Out” on $100 Million a Day in Revenue"
3 U.S. oil prices retreated in electronic trading Tuesday after the American Petroleum Institute reported that U.S. crude supplies increased by 1.249 million barrels for the week ended Sept. 14., according to sources. The build comes after a sizable decline of 8.6 million barrels for the week ended Sept. 7. Phil Flynn, senior market analyst […]Read more "Oil prices pare gain in electronic trade after API report shows weekly crude build – MarketWatch"
U.S. oil prices extended their rally into the electronic trading session Tuesday after the American Petroleum Institute reported that U.S. crude supplies dropped by 8.6 million barrels for the week ended Sept. 7, according to sources. The API data, however, showed supplies of gasoline up 2.1 million barrels and distillate stockpiles climbed by 5.8 million […]Read more "API data reportedly show a hefty decline in last week’s U.S. crude supplies – MarketWatch"