yellow oil barrel

Commentary: the US crude conundrum

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The current US oil market is in the midst of a slugfest reminiscent of a Rocky fight, as competing influences face off against one another, says Voices poster Matt Smith.. In one corner we have rising US shale oil production, while in the opposing corner we have a precipitously falling rig count.
Prime Minister Vladimir Putin of Russia visits an oil rig in the Caspian Sea operated by Lukoil, April 28, 2010. (Alexei Druzhinin/Pool via The New York Times)

U.S., Russia fight over Europe’s energy future

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It’s all about heat and electricity for tens of millions of Europeans.
Caroline Lucas, a Green Party member in the UK Parliament, stands outside the main entrance to the Cuadrilla exploratory drilling site in Balcombe, England, as anti fracking demonstrations continue near the drill site, Sunday Aug. 18, 2013. (AP Photo / Gareth Fuller, PA)

U.K. lawmakers urge fracking moratorium

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Hydraulic fracturing in shale for oil and gas should be put on hold in the U.K. because of risks to public health and the environment, a panel of lawmakers said.
(Ty Wright/Bloomberg)

BHP backing away from U.S. drilling

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BHP Billiton Ltd., the biggest overseas investor in U.S. shale, will cut the number of its rigs there by about 40 percent as plunging petroleum prices add to concerns about lower iron ore earnings.
Categories: Crude oil, Shale, Texas
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(Image: Fotolia)

Canadian drilling services firm files bankruptcy

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A Canadian company that expanded into South Texas in 2012 with a pioneering waterless technique to fracture shale rock has filed for bankruptcy protection as it seeks to reorganize.
Driller Paul Allison operates the independent Barrett Brothers Number 1 drilling rig in Presideo County between Alpine and Marfa, Texas.

U.S. rig count sees biggest drop in six years

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This week’s plunge marked the third-biggest one-week drop since Baker Hughes began tracking rig data in 1987.
(AP Photo/Williston Herald, Jerry Burnes, File)

Ratings agencies warn of U.S. oil company, Venezuelan defaults

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Fitch Ratings said it expects the default rate for U.S. energy junk bonds to rise from 0.7 percent over the next few years, though it didn’t forecast a specific rate.
(Brittany Sowacke/Bloomberg)

Swift Energy cuts annual budget 75 percent

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Swift shares have fallen 79 percent since June 20, when oil prices peaked in 2014.
(AP Photo/Richard Drew, File)

NY fracking ban seen as having little impact on supply

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Scientists say New York’s available reserves of natural gas in the sprawling Marcellus Shale are minuscule compared to what can be extracted in other states such as Pennsylvania and West Virginia.
(RJ Sangosti/The Denver Post via Getty Images)

North American oil spending to plunge $58 billion, Barclays says

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North American oil producers and oil field service firms are expected to cut deep into the U.S. shale boom.