Category: Crude oil

This 153-Year-Old oil well produces nonstop, in boom or bust

McClintock No. 1, the world’s oldest continually producing oil well, is still going after 153 years.  More »

Oil rises again on Chinese interest rates

WTI for January delivery advanced 66 cents to settle at $76.51 a barrel on the New York Mercantile Exchange  More »

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.  More »

Confused OPEC watchers are more divided than ever

To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome.  More »

Russian FM rejects intervention in oil production

Sergei Lavrov said both Russia and Saudi Arabia did not want oil production targets to be affected by “political or geopolitical designs.”  More »

Oil price has its first gain in four days

WTI for January delivery, the most-actively traded, rose $1.35, or 1.8 percent, to $75.85 a barrel on the New York Mercantile Exchange.  More »

Apache sells assets in Texas, Oklahoma, Louisiana for $1.4 billion

Apache Corp. has agreed to sell assets in Texas, Oklahoma and Louisiana in two deals worth $1.4 billion, the exploration and production company announced Thursday morning ahead of a presentation to analysts.  More »

Commentary: The shakeout in US shale

My favorite quote by H.L. Mencken is ‘a cynic is a man who, when he smells flowers, looks around for a coffin‘. A bit morose, I know, but this appeals to the contrarian in me. My second favorite is überly-applicable to US shale oil break-evens: ‘For every complex problem there is an answer that is […]  More »

Transocean idles three more rigs, stock falls

Transocean’s fleet of deep-water drilling machines has been under pricing pressure and has faced lower demand amid falling oil prices and a glut in equipment.  More »

Oil falls as investors speculate on OPEC production cut

“There’s an established bearish trend and nothing out there to stand in the way of a further move lower,” Tim Evans, an energy analyst at Citi Futures Perspective.  More »

Study: Houston economy can withstand low oil prices

The Texas and Houston economies can both handle significant declines in crude oil prices, according to a new report from financial services firm BBVA Compass.  More »

Iraq’s biggest oil plant to reopen after militants ousted

Iraqi troops will expel the militants from areas near a pipeline supplying the refinery 130 miles north of Baghdad.  More »

Goldman says OPEC in dilemma as output cut seen helping U.S.

While the slide in prices into a bear market increases the chances of a reduction, trimming output by more than 500,000 barrels a day would mean further cuts are needed starting 2016 as higher prices prompt more U.S. drilling.  More »

Oil slide prompts Iran’s oil minister to visit UAE

OPEC producers have stepped up their diplomatic visits before the group’s meeting in Vienna, potentially seeking a consensus on how to react to oil prices at a four-year low.  More »

U.S. drillers shift oil rigs to tap most reliable fields

The oil-rig count has fallen from a peak of 1,609 on Oct. 10 as companies slow drilling in response to a 26 percent slide in crude prices over the past four months.  More »
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