Category: Crude oil

Officials say oil spill has not reached Caddo Lake

Officials said Saturday that the oil has been contained without reaching Caddo Lake, which straddles the Texas-Louisiana state line and provides drinking water for some water systems.  More »

Oil rigs slump by most in two months after prices slide

Rigs targeting oil in the U.S. fell by the most in two months as producers curbed drilling following the biggest price rout since 2012.  More »

Brent oil and West Texas crude rise

WTI for November delivery gained 5 cents to $82.75 a barrel on the New York Mercantile Exchange. The futures are down 3.6 percent this week and 16 percent in 2014.  More »

Oil tankers to China jump to nine-month high amid crude rout

The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases.  More »

U.S. stocks rally on stimulus signs as energy shares jump

U.S. stocks rallied, trimming this week’s decline, as earnings beat estimates, consumer confidence reached a seven-year high and investors speculated that central banks will add more economic stimulus.  More »

Schlumberger CEO: Oil will recover, spur E&P spending

The slow but steady global economic recovery is still intact, and absolute oil demand has changed little despite fears of oversupply that have sent crude prices hurtling downward in recent days, Schlumberger’s chief executive told investors on Friday.  More »

Shale boom helping American consumers like never before

The drop in crude has pulled retail gasoline down more than 50 cents a gallon from the year’s high in April.  More »

WTI rebound above $80 holds as Goldman Sachs sees no oil glut

West Texas Intermediate is heading for its biggest one-day gain in a month.  More »

Shale boom weans U.S. from foreign oil, creates new opportunities

Although the U.S. is far from achieving anything close to full energy independence, the rapid resurgence in domestic oil and gas production has slashed the nation’s reliance on foreign oil in a short period of time and created new opportunities for refineries and pipeline companies, an energy analyst said Thursday.  More »

Eagle Ford expected to hit 1.6 million barrels next month

The Eagle Ford Shale is expected to make 1.61 million barrels of oil per day in November, up 42 percent from the year before, according to a new government report. The field is making around 1.58 million barrels of oil daily this month, according to the U.S. Energy Information Administration.  More »

Citigroup sees $1.1 trillion stimulus from oil plunge

Crude prices are plunging amid signs that OPEC won’t act to eliminate a surplus as global growth slows.  More »

Falling oil prices shake up global economies

Dropping oil prices are having complex effects on economies around the globe that are only starting to be felt.  More »
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