Category: Crude oil

Iran may propose million-barrel daily OPEC cut in Saudi talks

Bijan Namdar Zanganeh and Saudi Arabia’s Oil Minister Ali Al-Naimi will talk on the sidelines of the OPEC meeting in Vienna.  More »

Russia considers joining OPEC oil output cuts in 2015

The world’s biggest crude oil producer may agree to reduce output by 15 million tons in return for tens of millions in OPEC reductions.  More »

Q&A: Oil eventually will lose its place as leading auto fuel

Henrik Madsen, the CEO of Norway’s international shipping and oil field equipment classifier DNV GL, says oil’s best value is as a chemical feedstock, and that eventually natural gas will replace it as a motor fuel.  More »

This 153-Year-Old oil well produces nonstop, in boom or bust

McClintock No. 1, the world’s oldest continually producing oil well, is still going after 153 years.  More »

Oil rises again on Chinese interest rates

WTI for January delivery advanced 66 cents to settle at $76.51 a barrel on the New York Mercantile Exchange  More »

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.  More »

Confused OPEC watchers are more divided than ever

To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome.  More »

Russian FM rejects intervention in oil production

Sergei Lavrov said both Russia and Saudi Arabia did not want oil production targets to be affected by “political or geopolitical designs.”  More »

Oil price has its first gain in four days

WTI for January delivery, the most-actively traded, rose $1.35, or 1.8 percent, to $75.85 a barrel on the New York Mercantile Exchange.  More »

Apache sells assets in Texas, Oklahoma, Louisiana for $1.4 billion

Apache Corp. has agreed to sell assets in Texas, Oklahoma and Louisiana in two deals worth $1.4 billion, the exploration and production company announced Thursday morning ahead of a presentation to analysts.  More »

Commentary: The shakeout in US shale

My favorite quote by H.L. Mencken is ‘a cynic is a man who, when he smells flowers, looks around for a coffin‘. A bit morose, I know, but this appeals to the contrarian in me. My second favorite is überly-applicable to US shale oil break-evens: ‘For every complex problem there is an answer that is […]  More »

Transocean idles three more rigs, stock falls

Transocean’s fleet of deep-water drilling machines has been under pricing pressure and has faced lower demand amid falling oil prices and a glut in equipment.  More »

Oil falls as investors speculate on OPEC production cut

“There’s an established bearish trend and nothing out there to stand in the way of a further move lower,” Tim Evans, an energy analyst at Citi Futures Perspective.  More »

Study: Houston economy can withstand low oil prices

The Texas and Houston economies can both handle significant declines in crude oil prices, according to a new report from financial services firm BBVA Compass.  More »

Iraq’s biggest oil plant to reopen after militants ousted

Iraqi troops will expel the militants from areas near a pipeline supplying the refinery 130 miles north of Baghdad.  More »