A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

U.S. crude inventories break decades-old record after huge build

on
A higher-than-expected build of 7.8 million barrels for the week ending on Jan. 29 pushed inventories to 502.7 million barrels.
Eagle Ford, Bakken shale production on the decline

Eagle Ford, Bakken shale production on the decline

on
Output from the Eagle Ford has been falling since March 2015.
(AP file photo/George Osodi)

Tension returns to Nigeria to threaten crude exports

on
Fifty-seven years after the birth of founding member Lol Tohurst, and the crude complex is still exploring whether ‘The Cure’ for low oil prices is…low oil prices. Last night’s API report had a considerably bearish tilt, yielded a solid build of 3.8 million barrels to crude stocks, while Cushing stocks edged up also. It was […]
Categories: Africa, Crude oil
Tags: | |
(Spencer Platt/Getty Images)

Strong company earnings, oil recovery send stocks higher

on
The price of oil turned higher after a two-day slump.
U.S. regulators expect their review of the proposed Halliburton-Baker Hughes merger to last into the new year.  (AP Photo)

Halliburton poised to offer Baker Hughes deal concessions to EU

on
The company said Wednesday that it would offer the remedies soon, after the EU pushed back the deadline for reviewing the deal by 20 working days to June 23.
(Jeff Kowalsky/Bloomberg News)

Marathon Petroleum profits dip more than 75 percent

on
The Pennsylvania-based refining and pipeline company reported a $168 million net income gain for the final three months of the year, down from $805 million.
Equipment is housed at National Oilwell Varco's distribution center in La Porte, Texas. (NOV)

NOV records $1.5 billion net loss for the fourth quarter

on
The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also recorded $1.63 billion in pre-tax impairment charges.
dollar falling graph

S&P takes aim at energy companies

on
The ratings actions are an acknowledgment that $30 oil could shake the foundations of even oil and gas’ largest companies.
(AP Photo/Log Cabin Democrat, Courtney Spradlin)

Arkansas water utility pushes for Exxon Mobil fines, rules

on
In a letter to the Pipeline and Hazardous Materials Safety Administration on Monday, Central Arkansas Water said Exxon Mobil doesn’t understand the weight of the situation.
Tourist fridge magnets sit for sale outside a souvenir store in Isfahan, Iran, on Thursday, Aug. 27, 2015. Iran expects its economic growth to accelerate next year as the removal of sanctions under a nuclear agreement offsets a global slump in oil prices, a top aide to President Hassan Rouhani said. Photographer: Simon Dawson/Bloomberg

Cheap oil buoys consumers, shakes up global governments

on
A recovery in oil prices depends on when supply and demand can get close to equilibrium. It could be a rocky ride.