Category: Crude oil

U.S. rig count grows despite oil price slump

Future output in the U.S. is at risk with oil trading below $80 a barrel.  More »

Oil drop gives U.S. drillers argument to end export ban

With U.S. output at a 31-year high and imports at the lowest level since 1995, producers seeking the best possible price for crude are straining at having to keep sales at home.  More »

Brent heads for 5-year low as Saudi discounts spur competition

Futures slid as much as 1.1 percent in London and are headed for a second weekly decline.  More »

Oil prices go back on the decline

WTI for January delivery dropped 57 cents, or 0.9 percent, to end at $66.81 a barrel.  More »

Eagle Ford produces billionth barrel

More than 70 percent of that production has occurred in the last two years.  More »

300,000 Iraqi oil barrels signal glut will deepen

Just five days after OPEC decided to maintain production levels, Iraq, the group’s second-biggest member, inked an export deal with the Kurds that may add about 300,000 barrels a day to world supplies.  More »

WTI crude steady after U.S. stockpiles drop from five-month high

Oil fell 18 percent last month as the Organization of Petroleum Exporting Countries maintained its output target, letting prices fall to a level that may slow U.S. production growth.  More »

Oil prices not hitting petrochemical plant expansions

The same drilling bonanza that bestowed the chemical industry with cheap feedstock also flooded the world market with oil and gas at a time when the global demand for such products has started to flatten.  More »

Kinder Morgan remains optimistic at $70 US oil through 2015

Kinder Morgan doesn’t expect lower oil prices to have a major impact on its pipelines and storage business, the company said today.  More »

Oil rises after government report shows U.S. supply drop

West Texas Intermediate oil rose after a government report showed that U.S. crude inventories dropped as refineries bolstered operating rates.  More »

CEO says Exxon Mobil can be “successful” with $40 oil

West Texas Intermediate climbed Wednesday to $67.98 per barrel, while futures sank to $63/72, the lowest price in five years.  More »

Sub-$50 oil surfaces in North Dakota as regional discounts swell

Crude sold at the wellhead in the Bakken shale region in North Dakota fell to $49.69 a barrel on Nov. 28.  More »

Tanker’s fate unresolved after historic deal

Lawyers representing Baghdad and Erbil met for 20 minutes behind closed doors with a U.S. federal judge on Wednesday to discuss the case involving a tanker carrying Kurdish crude that has been trapped in legal limbo since late July but no action was taken.  More »

Brent rebounds from $70 as oil rout stutters

Crude is in a bear market as the U.S. pumps the most oil in more than three decades while global demand slows.  More »

Cheap oil is hitting these countries the hardest

The pain being felt in OPEC countries is likely being taken as good news in U.S. foreign policy circles.  More »
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