Category: Crude oil

Oil demand up fastest since 2010 on China, IEA says

Global oil demand will rise at the fastest pace in five years in 2015 as China leads gains in emerging economies, the International Energy Agency said.  More »

Shale shifting flows at America’s biggest oil port

With domestic production at a 28-year high, LOOP’s managers are thinking the previously unthinkable: They want to reverse the flows and send North American oil out as well as take foreign oil in.  More »

Oil rises for first time in 2 weeks

Crude for August delivery gained 64 cents to $102.93 a barrel.  More »

OPEC: As U.S. production surges, global oil demand to grow in 2015

Global oil demand is projected to grow in 2015 as the world economy continues to recover but with U.S. production surging, demand for oil from the Organization of Petroleum Exporting Countries will continue to slide, the oil producer’s group announced Thursday.  More »

Illinois has hired few workers to oversee fracturing

More than a year after a compromise paved the way for high-volume oil and gas extraction in Illinois, the agency in charge of overseeing the practice has hired just four of 53 new employees it says it needs as it continues working to complete rules drillers must follow.  More »

Oil on 2-week slide even with Mideast turmoil

The prolonged drop could lead to lower gasoline prices for U.S. drivers in the weeks ahead.  More »

Rallying Permian beats anew as heart of Texas oil

The Permian Basin, which helped define the Texas oil business for 50 years then hit the skids, is back big-time, and a new government report makes the point.  More »

Talisman, Statoil not selling Eagle Ford acreage

Talisman Energy and Statoil ASA’s effort to sell their joint venture in the Eagle Ford Shale has ended after offers came in lower than expected, Bloomberg News is reporting. Bloomberg reports.  More »

Oil slips closer to $103 as supply fears recede

Oil has been falling steadily since it hit a 10-month closing high of $107.26 on June 20 as the Iraqi government has slowly re-established stability.  More »

Swaps could be next way around oil export ban

Energy companies already have found one way to export some of the crude pouring out of Texas wells, despite a longstanding ban on selling U.S. oil overseas. Now they’re looking at another strategy.  More »

Macquarie fund buys terminals business in American expansion

A fund managed by Macquarie Group Ltd. agreed to take full control of a U.S. bulk liquid terminals operation for $1.03 billion in cash and stock as Australia’s largest investment bank expands its North American businesses.  More »

Moody’s: Iraqi violence isn’t likely to affect oil company credit ratings

Sectarian violence in Iraq probably won’t affect credit ratings of major oil companies operating there, Moody’s Investors Services predicts.  More »

Oil slips below $104 as Libya set to boost exports

U.S. crude for August delivery fell 53 cents to close at $103.53 a barrel.  More »

Industry raids universities for oil engineering talent

Universities are in a constant struggle to hire and retain enough professors to keep up with surging enrollment in petroleum engineering programs nationwide.  More »

Foreign investors turn eyes to ND oil patch

Foreign investors more familiar with projects in the emerging markets of Eastern Europe and tropical escapes of Southeast Asia are finding a new destination for their dollars and francs: Western North Dakota’s oil patch that’s home to booming towns, low unemployment rates and high incomes  More »