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A higher-than-expected build of 7.8 million barrels for the week ending on Jan. 29 pushed inventories to 502.7 million barrels.
Output from the Eagle Ford has been falling since March 2015.
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 […]
The price of oil turned higher after a two-day slump.
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.
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.
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.
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.
A recovery in oil prices depends on when supply and demand can get close to equilibrium. It could be a rocky ride.