Category: Crude oil

The calm before an M&A storm

Upstream oil and gas companies are waiting out volatility in the commodities markets right now, but many are expected be on the hunt for acquisitions after the dust in the crude market settles, according to an analysis by energy consulting firm Wood Mackenzie.  More »

Putin says Russian economy must brace for $40-a-barrel oil

The Russian central bank published a worst-case economic scenario Dec. 15 that envisioned oil prices averaging $60 a barrel until the end of 2017.  More »

Oil drops to 5-year low on concern supply glut to worsen

Saudi Arabia, the largest producer in OPEC, will stick to its policy to maintain output, Oil Minister Ali Al-Naimi said.  More »

Saudi Arabia says OPEC won’t give up oil-market share

Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil Minister Ali Al-Naimi said.  More »

Enbridge shuts oil pipeline to U.S. after spill in Canada

The 796,000 barrel-a-day pipe carries heavy, medium and light sour crude from Edmonton, Alberta, to Superior, Wisconsin.  More »

Crude resumes slide on concern supply outpacing demand

Trading volatility for both Brent and West Texas Intermediate increased to a four-year high.  More »

Marathon Oil will cut more than $1B from 2015 budget

Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.  More »

Crude oil futures rebound with stocks as selloff pauses

Brent, the benchmark for half the world’s oil, advanced from a five-year low. West Texas Intermediate shrugged off an increase in supplies at Cushing, the delivery point for Nymex futures.  More »

Colorado drillers warn of closures with fines

An attorney for the Colorado Oil and Gas Association industry group told regulators penalties should be waived for minor infractions.  More »

U.S. talking oil exports just when world needs it least

As members of Congress promise more hearings on repealing the restrictions on oil exports, the world is awash in the stuff.  More »

Oil climbs from 5-year low; oil drop seen as excessive

Brent, the benchmark for half the world’s oil, gained as much as 1.2 percent after closing at the lowest level since May 2009 yesterday.  More »

Rosetta Resources to cut 2015 spending

The company also said it would pare back the number of drilling rigs it will use and announced plans to refocus more of its budget on the Permian Basin.  More »

More than 500 rigs may shut down as oil slides, analysts say

Rigs could begin to see less work starting early next year, following a 40 percent drop in the number of new U.S. drilling permits issued from October to November.  More »

Militant fighting, price plunge threaten Iraq’s oil production goal

Iraq is supposed to add more new oil production by the end of this decade than any other OPEC member.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »
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