Category: Crude oil

Crude price slump exposing oil field risk takers

For the biggest explorers, the impacts of slumping prices are dramatic.  More »

North Dakota lawmakers to get update on state’s oil outlook

The presentation to the House Appropriation Committee is slated for Thursday morning at the state Capitol in Bismarck.  More »

Renowned trader sees $40 oil as ‘absolute price floor’

Crude could trade in the $40-a-barrel range in 2015, close to “an absolute price floor,” the head of Astenbeck Capital Management wrote in a Jan. 2 letter.  More »

Oil investors pour most money into funds in 4 years

Investors are piling into oil ETFs even after West Texas Intermediate crude, the U.S. benchmark, tumbled the most since 2008 last year amid signs of rising supply and weak demand.  More »

Crude rebounds amid strong U.S. refinery demand

WTI for February delivery increased 72 cents to settle at $48.65 a barrel on the New York Mercantile Exchange.  More »

Small Texas oil company files for bankruptcy protection

Austin-based WBH Energy Partners told a Texas federal bankruptcy court this week that its partner in North Texas oil and gas leases had warned it may foreclose on the private firm’s stake in the leases this month after it failed to pay its $12 million share of operational expenses.  More »

Shrinking foreign oil bill sends US trade deficit lower

Economists predict that the oil market will continue to reduce the U.S. trade deficit and potentially bolster the overall economy.  More »

Oil driller says its high-tech rigs can’t compete with cheap crude

An Oklahoma oil driller expects 40 to 50 of its souped-up drilling machines to come off the market over the next month.  More »

Harold Hamm’s ex-wife rejects $975 million divorce check

The check delivered to her legal team would have paid off the full amount awarded to Sue Ann Arnall in a November divorce ruling.  More »

Crude price struggles continue as gasoline, distillate inventories rise

Stocks of gasoline rose by 8.1 million barrels to 237.2 million barrels for the week ending Jan. 2, leaving stores about 4.5 percent higher than the same period last year.  More »

Global crude pares loss after biggest drop since 2009

Crude slumped by 48 percent last year, the most since the 2008 financial crisis, as the U.S. pumped at the fastest pace in more than three decades and the Organization of Petroleum Exporting Countries decided to maintain its output ceiling.  More »

How $50 oil changes almost everything

The biggest collapse in energy prices since the 2008 global recession is shifting wealth and power from autocratic petro-states to industrialized consumers.  More »

BP details job cuts, capital spending declines in latest economic impact report

Numbers from the British oil giant’s annual economic impact report showed that capital spending fell to $9.1 billion in 2013.  More »

Analyst: No reason oil will stop at $50

Though oil producers have started slowing down drilling plans for 2015, U.S. production is not losing steam, and the imbalance between global oil supply and demand persists.  More »

Follow API’s State of American Energy speech

Jack Gerard of the American Petroleum Institute will speak at 12 p.m. in a live webcast.  More »