Category: Production

Oil prices retreat after OPEC reports 810,000-barrel boost in March

OPEC predicted output from U.S. oil fields would stall out and eventually fall later this year as producers park hundreds of drilling rigs.  More »

Saudi Arabia adds half a Bakken to global oil market in a month

Prices collapsed almost 50 percent last year as Saudi Arabia led OPEC in maintaining production in the face of a global glut.  More »

OPEC surge ahead of Iran exports could stall oil recovery

The International Energy Agency says Russia, India and others gobbled more cheap crude last month but oil-exporting states including Saudi Arabia pushed out more crude than in almost two years, a bid to remain kings in the oil market as Iranian exports loom.  More »

Shale output is falling faster than expected

Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013.  More »

Cheap crude won’t slow U.S. oil fields by much, EIA says

The EIA said low oil prices would only cut the nation’s daily production by 700,000 barrels from 2022’s projected 10.4 million barrels.  More »

Shale boom to start busting as U.S. output set to fall

The shale oil bonanza that made millionaires from Texas to North Dakota is slowing down for the first time in years, a sign that painful industry cutbacks are starting to have an impact.  More »

Bullish bets on oil increase

e funds boosted net-long positions on West Texas Intermediate crude by 30 percent in the seven days ended April 7, the biggest jump since October 2010, U.S. Commodity Futures Trading Commission data show  More »

Saudi Arabia sees crude price rising as it boosts oil production

OPEC kept output targets steady at its meeting in November, focusing on maintaining market share rather than supporting prices. The group meets next in June.  More »

Louisiana oil port, made for import, rents domestic storage

The Louisiana Offshore Oil Port recently auctioned 11.3 million barrels of monthly storage space and has scheduled another auction Tuesday, The Advocate reported.  More »

Moody’s downgrades Sabine amid financial woes

Moody’s Investors Service said $1.85 billion of the Houston oil producer’s debt is at higher risk of default after financial disclosures in its annual report Tuesday indicated it has an “unsustainable capital structure.”  More »

Iran moves closer to restoring oil exports on nuclear accord

Minutes after the deal was announced, Brent crude, the global benchmark, fell as much as 5.4 percent.  More »

North Dakota orders 5 companies to reduce oil production in state

The five companies were ordered this month to reduce production to 100 barrels per day at certain wells or risk facing daily penalties.  More »

Sabine Oil & Gas working to avoid defaulting on its debt

All told, Sabine had $2.82 billion in debt as of March 15, with $326.8 million in cash on hand.  More »

Exxon Mobil starts production at its new deepwater project in the Gulf

Total production of the project is expected to reach about 300 million cubic feet of gas and 3,000 barrels of liquids per day from two wells.  More »

U.S. crude production sets record in 2014

The shale boom in 2014 fueled the most dramatic rise in U.S. oil production since the government began keeping records more than a century ago.  More »
Page 1 of 2312345...1020...Last »