Tag: crude oil prices

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 »

AAA: Consumers now saving $100 per month on gasoline

Gasoline prices averaged $2.60 per gallon Friday — the lowest level since Dec. 27, 2009.  More »

CEO says Exxon Mobil can be “successful” with $40 oil

West Texas Intermediate climbed Wednesday to $67.98 per barrel, while futures sank to $63/72, the lowest price in five years.  More »

AAA: Expect gas prices to fall at least 15 cents over holidays

Gas prices are dropping to levels not seen in almost five years.  More »

Cheap oil is hitting these countries the hardest

The pain being felt in OPEC countries is likely being taken as good news in U.S. foreign policy circles.  More »

Crashing oil prices hurting Pennsylvania drillers

“It’s putting a monkey wrench into the industry’s economy,” said Lou D’Amico, president of the Pennsylvania Independent Oil and Gas Producers.  More »

What OPEC’s Thanksgiving meeting means for U.S. producers

The group will decide Thursday whether to maintain its current production quota of 30 million barrels of oil per day or reduce that figure in an effort to boost crude oil prices.  More »

OPEC’s choice in Vienna meeting will determine role in new oil order

The Organization of Petroleum Exporting Countries could reassert control by cutting output, ceding more market share to U.S. shale oil producers.  More »

Halliburton CEO expects shale to reverse oil price slump

Halliburton CEO Dave Lesar is joining the chorus of oil executives who say they aren’t worried about falling oil prices, and expect them to climb next year.  More »
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