Category: Crude oil

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 »

End to oil collapse in sight for BofA, BNP Paribas

Some of the world’s biggest banks say the collapse in oil is just about over.  More »

Oil slump means canceled projects as investment declines

With oil approaching a four-year low, producers will be cautious about sanctioning investment, according to some experts.  More »

Brent, West Texas crude keep dropping

Brent crude extended its biggest one-day collapse in three years amid speculation OPEC will refrain from eliminating a glut.  More »

Putin loses his best friend: Expensive oil

The decline in oil prices may be depriving Russian President Vladimir Putin of his biggest ally.  More »

Exec sees Texas condensate exports soaring

Texas could be exporting 1 million barrels per day of an ultra-light oil known as condensate if oil companies have their way.  More »

Crude oil falls deeper into bear territory

West Texas oil for November delivery dropped $3.90 to $81.84 a barrel on the New York Mercantile Exchange, the lowest settlement since June 28, 2012.  More »

Permian crudes weaken after Sunoco pipeline spill

Crude extracted from the largest U.S. oil field weakened against the U.S. benchmark after producers lost access to Midwest markets when a 4,000-barrel spill in Louisiana forced the shutdown of a key pipeline.  More »