Category: Production

Crude rigs at lowest level in two years after another decline

Drillers were slow to pare back the number of rigs working, but have now idled 258 crude oil rigs since a steady slide began seven weeks ago.  More »

Commentary: What I think about when I think about crude

Some of the factors Voices blogger Matt Smith thinks about when he thinks about oil.  More »

U.S. shale oil growth hurts Canadians as well as OPEC

A surge of light oil from North Dakota and Texas is cutting into the earnings of Canadians who turn heavy oil sands into a lighter crude that fetches more from refiners.  More »

What to watch for in the State of the Union

As President Barack Obama delivers his penultimate State of the Union address Tuesday night, will he be the president who took aim at the oil industry’s tax breaks in 2009 or the one who celebrated natural gas just three years later?  More »

Alaska faces lean budget times as oil prices plunge

Alaska heavily relies on oil revenue to fund the cost of state government, but the fall in prices has contributed to an estimated 80 percent decline in the state’s share of production taxes from last year.  More »

Meeting between Iran and Saudi Arabia foreign ministers delayed

A meeting between the foreign ministers of OPEC’s Iran and Saudi Arabia was delayed in part due to discord over falling crude prices, said Hossein Amir-Abdollahian, Iran’s deputy foreign minister for Arab and African affairs  More »

Canadian oil company cuts more than $2 billion from 2015 budget

It joins a slew of competitors of various sizes, from Marathon Oil to Continental Resources to ConocoPhillips, who have all cut their planned 2015 capital budgets as well.  More »

Oil could drive down ethanol profits, but industry shielded

Oil prices may have dipped below $50 a barrel for the first time since April 2009, but ethanol plants across the nation continue to operate at a brisk pace in order to satisfy a domestic and export demand that hasn’t weakened.  More »

Iran and Venezuela seek oil price stability

Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon  More »

Shell to cut 5 to 10 percent of 3,000 oil sands jobs

A Shell official characterized the move as unrelated to the drop in commodity prices and intended to keep the company efficient and competitive.  More »

Suit seeks EPA decision on oil field chemical disclosure

Nine environmental groups sued to force the EPA to make a decision on a petition asking the agency to require oil and gas producers to disclose toxic chemical emissions.  More »

Pioneer alters hedging strategy to protect against cheap oil

The company is converting 85 percent of its 2015 derivatives contracts to fixed-price swaps that cover oil production at an average of $71.18 per barrel.  More »

Southwestern — unlike peers — plans to boost 2015 spending

Firms like Continental Resources, Apache Corp., ConocoPhillips and Marathon Oil have all announced big cuts this winter to their planned capital expenditures.  More »

Survey: Texas manufacturers worried about oil price slide

Several manufacturing executives expressed pessimism over how falling oil would affect business next year.  More »

U.S. Production > OPEC Influence

The U.S. energy revolution has dramatically impacted the extent to which the OPEC oil cartel can influence the global oil marketplace, fundamentally shifting the geopolitics of energy. Truly, from a U.S. perspective, this is one of the greatest stories of the 21st century. Massive amounts of domestic oil and natural gas production, coupled with increasing […]  More »
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