Category: Crude oil

Midland, Cushing price difference not letting up, report says

A new government report says West Texas Intermediate crude traded in the Permian Basin market of Midland has averaged almost $6.70 per barrel less than the U.S. benchmark price set at a hub in Cushing, Oklahoma.  More »

Buckeye Partners opening Port of Albany terminal to Canadian oil sands shipments

The Houston-based MLP said the rebuilt terminal will open this spring and would be ready for rail shipments of tar sands oil by the third quarter of 2014.  More »

OPEC yet to decide on supply cuts as crude prices extend retreat

OPEC has yet to decide to cut its production target, the United Arab Emirates’ energy minister said, as crude prices extend a slide since June amid a boom in U.S. shale oil and signs of slower demand growth in China.  More »

Oil-rich Rockefellers plan to divest from fossil fuels

After building their fortune on oil, the Rockefeller family is joining growing chorus of philanthropies, foundations, religious groups and pension funds pledging to sell assets tied to fossil fuels, the New York Times reported Sunday.  More »

NOV completes leadership, business unit shuffle

National Oilwell Varco saw a lot of change in 2014, following the naming of its new CEO and the reorganization of its business units.  More »

U.S. crude falls for third day on dollar strength

Oil for October delivery dropped 66 cents to end at $92.41 on the New York Mercantile Exchange.  More »

Medlock: Without oil exports, drilling rigs could flee U.S.

It will take a “train wreck” of falling prices, declining oil production and idle drilling rigs before the United States lifts its longstanding ban on exporting crude, Rice University economist Kenneth Medlock predicted Wednesday.  More »

Continental Resources appoints new president to replace Bott

Jack Stark replaces outgoing W.F. “Rick” Bott, who resigned Sept. 11.  More »

Libya halts biggest oilfield amid rebel attacks

The disruption “serves as a reminder that despite recovering export rates and the National Oil Corp.’s reassurances of stable supplies, the country remains in a state of civil war, where anything can happen,” Andrey Kryuchenkov, an analyst at VTB Capital in London, said.  More »

Want to improve your business acumen? Take some tips from Gordon Ramsay

Believe it or not, you can learn a lot from reality television.  More »

Oil rises on prospect of OPEC output cut

Oil for October delivery rose $1.96 to $94.88 a barrel.  More »

Crude bounces back on dollar’s decline

Oil for October delivery climbed 65 cents to end at $92.92 a barrel.  More »