Oklahoma down 2, now at 121; U.S. Rigs fall by 5 U.S. energy companies this week cut oil rigs for the first week...
Updated August 27, 2019. U.S. petroleum and natural gas production increased by 16% and by 12%, respectively, in 2018, and these totals...
In 2017, oil prices recovered significantly. Posting its second annual gain in a row, the commodity closed 2017 up more than 12%. The U.S....
Penn Virginia Corp. (NASDAQ: PVAC) will expand its core position in the Eagle Ford Shale with an $86 million bolt-on acquisition, the Houston-based...
As the price of oil rises, heavily-hedged shale producers may find it harder to meet investor demands for payback, boosting the value...
A surge in demand for frac sand brought a wave of company announcements this year of plans to build sand mines in...
OKC based Chaparral Energy, Inc. announced today that it has entered into a definitive purchase agreement to acquire acreage in Kingfisher County,...
Now that Christmas has come and gone, and my stomach somehow remains full from all the pecan pie and sweet potatoes I...
Work continues on pipeline projects designed to carry oil, condensate and natural gas away from wells being completed in Oklahoma’s STACK and...
With Trump’s Tax Plan in focus it is indisputable that 2017 was a solid year for the U.S. economy, with unemployment dipping,...
On Tuesday, crude oil prices plunged to their lowest levels since December 2021, with both major benchmarks falling nearly 4%. This sharp decline came in the wake of OPEC+ downgrading its demand forecast for 2024 and 2025, a move that overshadowed supply concerns arising from Tropical Storm Francine, as reported by Reuters.
Key market movements:
West Texas Intermediate (WTI) crude: Closed at $65.75 per barrel on the New York Mercantile Exchange, dropping $2.96 or 4.31% At one point, WTI futures fell over 5%, touching their lowest levels since May 2023
Brent crude futures: Settled at $69.19 per barrel on ICE Futures Europe, and fell $2.65 or 3.69%. Earlier in the trading session, Brent declined by more than $3 per barrel.
This significant price drop underscores the market's sensitivity to demand projections, particularly those from influential bodies like OPEC+. The revised forecast appears to have outweighed immediate supply disruption concerns, highlighting the complex interplay of factors influencing global oil prices.
Analysts will closely monitor how these price movements might impact production decisions and investment in the oil sector in the coming weeks.
Story from Bloomberg|By Anthony Di Paola| Libya’s crude exports continued to slump as UN-led...
A federal judge has hit the pause button on new oil and gas drilling...
Story By Andreas Exarheas |Rigzone.com| The U.S. Energy Information Administration’s (EIA) latest gasoline and...
By David Wethe | (Bloomberg) — The price to rent a deepwater drilling rig may...
Chevron CEO Michael Wirth recently criticized U.S. President Joe Biden’s administration for policies that...
Story by Bloomberg, via RigZone.com |Authors: J.Saul, N.S.Malik, M.Chediak| Energy companies in the US are...
A small group of California Republicans has introduced several bills ahead of a special...
Helium is the second most abundant element in the universe after hydrogen. It is a...
The oil and gas industry is inherently tied to geopolitical events and domestic policy...
By Irina Slav for Oilprice.com | Crude oil prices moved higher today after the...
The U.S. Department of the Treasury, through its Office of Foreign Assets Control (OFAC),...
Chris Matthews from Hart Energy, who covers the North American upstream shale energy industry...
Have your oil & gas questions answered by industry experts.