Category: Crude oil

BP CFO: $70 oil would threaten Big Oil projects

The Big Oil industry’s prized projects won’t face major cuts unless oil prices fall below $70 a barrel, BP’s chief financial officer told investors on Tuesday.  More »

Barclays cuts oil-price forecasts on world supply surplus

Barclays Plc cut its oil-price forecasts for the second time this month, citing expectations that OPEC won’t cut supplies sufficiently to remove a global surplus.  More »

Goldman Sachs: Expect U.S. crude to fall to $70 next year

The decline is due to oil production growing at a faster pace than demand, leading to global oil market that’s oversupplied.  More »

PE firm Warburg Pincus raises $4B for energy investments

A private equity shop that lured the former U.S. Treasury Department chief to the firm last year has collected $4 billion for its first energy fund to pour cash into U.S. oil explorers and other companies.  More »

Carrizo snaps up Eagle Ford acreage for $250M

The debt-funded deal closed late last week, but Carrizo said it is scheduled pay the bulk of the purchase price by February.  More »

U.S. gasoline falls to lowest since 2010, Lundberg says

Oil has fallen by 24 percent from this year’s peak in June.  More »

Keystone foes energized as price pinches oil sands allure

TransCanada Corp. proposed the pipeline in September 2008 when oil was more than $100 a barrel.  More »

Oil speculators bet wrong as rebound proves fleeting

After rising as analysts speculated prices had reached a floor, WTI sank again after stockpiles climbed nationally.  More »

A lot’s changed since 1980s, but lower oil prices still cause unease

Oil prices have fallen this year, and that’s causing people in the oil capital to remember a much deeper slump 30 years ago.  More »

Blackfeet urge government to cancel energy leases

Blackfoot tribal leaders from Canada and Montana are calling on the U.S. government to cancel oil and gas leases on sacred land near Glacier National Park, as a lawsuit works its way through the federal courts.  More »

Don’t assume Saudi crude drop was move to bolster prices

Brent crude jumped yesterday after a person familiar with the country’s oil policies said the amount it supplied to markets fell in September by 328,000 barrels a day.  More »

Oil producers unite to lobby for crude exports

Fourteen of the nation’s largest independent oil companies are banding together to lobby for the right to export crude around the world. It’s a sign the industry is revving up for a big, coordinated push to dismantle those trade restrictions next year.  More »
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