Tag: crude oil prices

World’s biggest oil trader says crude price can’t drop much more

Oil prices will range from $50 a barrel to $70 a barrel in the second half of this year, Ian Taylor, the firm’s chief executive officer, said in an interview.  More »

Schlumberger CEO lays out his plan to weather the crude crash

The growing re-fracturing business is one that could boost Schlumberger’s suffering bottom line amid tumbling commodity prices.  More »

Saudi Aramco signs $10 billion loan as oil companies raise funds

Saudi Aramco, the world’s biggest oil exporter, is the latest oil company in the region to take advantage of low borrowing costs to raise funds.  More »

Oil rigs fall by lowest number since December

Total rigs drilling for both oil and natural gas fell by 21 to 1,048, with gas rigs down 9 to 233, and miscellaneous rigs unchanged at 2.  More »

Dallas Fed: Texas job growth to slow, Houston to see the biggest impact

Declines in the oil and gas industry, tight labor markets and weakening exports led to the revision, the Federal Reserve Bank of Dallas wrote Tuesday.  More »

Carbo Ceramics cuts jobs, dividend as oil plunges

The Houston firm, which makes ceramic proppant used in hydraulic fracturing, didn’t say how many jobs would be cut.  More »

U.S. gas prices jump 13 cents a gallon; could go higher

Industry analyst Trilby Lundberg said Sunday that a rebound in the price of crude oil caused the run-up at the pump.  More »

Small oil company to quit drilling amid falling crude

The move makes American Eagle Energy, worth $17 million on the stock market Wednesday, the first U.S. oil producer to completely stall its drilling plans in the face of the 50-percent slide in crude prices since this summer.  More »

Oil crash exposes new risks for U.S. shale drillers

West Texas Intermediate crude, the U.S. benchmark, dropped about 50 percent since June amid a worldwide glut.  More »

Oil rebounds from five-year low as Saudi comments add volatility

West Texas Intermediate, the U.S. grade, climbed as much as 2.6 percent in New York and Brent 2.2 percent in London.  More »

Saudi Arabia says OPEC won’t give up oil-market share

Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil Minister Ali Al-Naimi said.  More »

Chevron abandons Arctic drilling plans

Chevron told Canada’s National Energy Board Wednesday that it would pull out of Beaufort Sea.  More »

Militant fighting, price plunge threaten Iraq’s oil production goal

Iraq is supposed to add more new oil production by the end of this decade than any other OPEC member.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Lower price at the pump doesn’t mean much more driving, report says

But the relationship between prices and number of drivers used to be closer.  More »
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