Category: Crude oil

Chevron to delay capital spending announcement

Chevron, the second largest U.S. integrated energy company, announced Tuesday that its budget won’t be made public until early next year.  More »

Crude oil climbs back from 5-year lows

WTI for January delivery rose 77 cents, or 1.2 percent, to settle at $63.82 a barrel.  More »

Feds blast BP’s request to cut billions in spill fines

The outcome of this latest legal tussle between the British oil giant and federal prosecutors could mean a difference of $11 billion on BP’s final bill for spilling millions of barrels of oil into the ocean four years ago.  More »

Exxon: North America to be energy exporter by 2020

The company’s forecast outlined an about 35 percent growth in energy demand across the world through 2040, driven mostly by a growing population and the rise of an energy-hungry middle class in developing countries.  More »

WTI to average $63 a barrel next year, feds predict

The price for U.S. benchmark oil is $15 lower than in last month’s report.  More »

EIA: US production to increase 115K barrels in January

Next month’s total will be nearly 2,000 bpd more than December’s rise.  More »

Kuwait sees oil stuck at $65 for six months until OPEC moves

OPEC decided on Nov. 27 to maintain its output target, prompting a drop in European benchmark Brent crude to less than $70 a barrel for the first time since May 2010.  More »

North Dakota regulators to vote on oil shipment rules

Oil industry officials have said the state already has proper regulations in place.  More »

Crude rebounds from five-year low

Crude is trading in a bear market as the highest U.S. production in three decades exacerbates a global glut.  More »

Global gasoline prices don’t look the same as in the U.S.

Weak global demand and a flood of cheap oil from North American producers are sending the price of gasoline plummeting, but the savings won’t look the same around the globe as they do in the U.S.  More »

Oil plunges to 5-year low

Both Brent and WTI tumbled 18 percent in November as OPEC decided to maintain its 30 million-barrel-a-day output target.  More »

Oil prices may delay Oklahoma income tax cut

A law signed in April by Gov. Mary Fallin requires for the cut to take effect an increase in state revenue, provided in part by tax collections that rise and fall with oil prices.  More »

ConocoPhillips cutting capital spending by 20 percent

The cut reflects lower spending on major projects, several of which are nearing completion.  More »

Oil slumps to five-year low as OPEC decision spurs forecast cuts

Oil is trading in a bear market amid signs that U.S. output is expanding even after the decision by OPEC, which is responsible for about 40 percent of global supplies.  More »

Hedge funds betting that OPEC-led oil rout is near end

Oil’s collapse accelerated after the 12-nation Organization of Petroleum Exporting Countries decided Nov. 27 to maintain output levels, underscoring the price war in crude.  More »