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The acquisition from Paloma will add approximately 62,000 net acres spanning across Canadian, Grady, McClain, Caddo, Custer, Dewey, Blaine, and Kingfisher counties,...
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By- Anastasia Hufham – The Salt Lake Tribune – A new lawsuit targeting Trump-era oil and gas leases in Utah takes aim...
Story By Jennifer A. Dlouhy |Bloomberg, via RigZone.com| A federal judge upheld the Biden administration’s approval of ConocoPhillips’ 600-million-barrel Willow oil development...
By: Erin Douglas – Texas Tribune – A 5.2 magnitude earthquake was recorded in West Texas early Wednesday near the border of...
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By: Reuters – Investors dumped crude oil futures and options for the second week running as the economic outlook worsened and the...
(Reuters) - Oil prices rebounded slightly on Wednesday on short-covering a day after they fell near a two-week low on OPEC's reduced demand forecast, but gains were limited as the dollar hit a seven-month high.
Brent crude futures settled up 39 cents, or 0.5%, to $72.28 a barrel. U.S. West Texas Intermediate crude (WTI) futures gained 31 cents, or 0.5%, to $68.43.
On Tuesday, the benchmarks closed at their lowest level in nearly two weeks after the Organization of the Petroleum Exporting Countries lowered its global oil demand growth forecasts for 2024 and 2025, citing weak demand in China, India, and other regions. It was the producer group's fourth straight downward revision for 2024.
"The forecast is no doubt bearish and the market is still digesting it," said Bob Yawger, director of energy futures at Mizuho, adding the market bounced back as some speculative investors tried to recoup losses.
Both U.S. and global oil production are set to rise to slightly larger record highs this year than prior forecasts, the U.S. Energy Information Administration said.
U.S. oil output is now expected to average 13.23 million barrels per day (bpd) this year and global production is set to reach 102.6 million bpd.
Over the past five years, BP has attempted to make a bold move to...
(Reuters) – Oil prices were little changed on Wednesday, pressured by a large surprise...
APA Corporation, a Houston-based oil and gas exploration company, is expanding its partnership with...
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