(Alexander Zemlianichenko Jr./Bloomberg)

Wood Mackenzie: Just 0.1 percent of global crude output shuttered by cheap oil

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Though crude is cheaper than during the financial crisis seven years ago, global oil prices haven’t fallen far enough yet to force oil producers to shut in more than 0.1 percent of the world’s daily supply.
President Barack Obama gestures while giving State of the Union address before a joint session of Congress on Capitol Hill in Washington, Tuesday, Jan. 12, 2016. Vice President Joe Biden and House Speaker Paul Ryan of Wis. listen at rear. (AP Photo/Susan Walsh)

Obama to seek $10-a-barrel oil tax

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The White House hopes the proposal will drive a debate about the need to get energy producers to help fund efforts to fight climate change.
(Johnny Hanson/Chronicle)

Texas leads the way in another rig count decline

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South Texas’ Eagle Ford shale saw four more rigs go dark this week, while West Texas’ Permian Basin lost another three rigs, according to according to weekly data released by oil field services firm Baker Hughes.
dollar falling graph

Brent oil falls on Iran oil expectations

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Iran will probably start increasing exports by selling barrels it stockpiled on tankers in the Persian Gulf in anticipation of the deal.
API President Jack Gerard  (Bloomberg)

Top oil lobbyist touts U.S. energy production, emissions reductions

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The head of the oil industry’s top lobbying group says the U.S. is an emerging global energy powerhouse, and can can grow even stronger if the federal government imposes fewer regulations.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

These are the energy stories Houston cared about in 2015

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With crude prices stuck firmly below $40 a barrel, and energy companies predicting another austere year in 2016, here’s a look back at some of the most popular stories that appeared on FuelFix.com this year.
TPH report: At $50 oil, Eagle Ford production could dip 13 percent

Eagle Ford Shale counties top Texas production for October

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Communities in the Eagle Ford Shale topped the state’s list of the biggest crude oil, condensate and natural gas producers in October, according to preliminary data released this week by the Texas Railroad Commission. Karnes County continues to pump more crude oil than any other county, with nearly 6.39 million barrels produced in October.
The Dallas Fed estimates the U.S. has lost 70,000 oil jobs during the 14-month price slump.

Dallas Fed says U.S. has lost 70,000 oil jobs in the past year

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The Dallas Fed also says in a new report that the nine oil industry bankruptcies in the final three months of the year are the most in one quarter since the Great Recession.
Over thirty oil drilling rigs idling in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, in the Permian Basin on  May 18, 2015. (Courtney Sacco/Odessa American via AP)

Rig count tumbles three as oil prices refuse to budge

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Another three rigs went dark this week as producers found little financial incentive to continue chasing crude while prices remain stuck below $40 a barrel.
The sun sets beyond an oil pumping unit, also known as a "nodding donkey" or pumping jack, at a drilling site operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

Crude plunges as IEA warns of lower oil demand in 2016

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In its monthly oil market report, the IEA said the world’s “unrelenting oversupply” of oil is expected to grow, adding 300 million barrels to the storage tanks around the world, albeit a lower level than this year.