Tag: crude oil

Oil soars on signs U.S. oil companies curtail production

U.S. oil surged $3.18 to $47.71 a barrel.  More »

Chevron CEO: $50 oil will not meet world’s energy need

For the quarter, the news was bleak: Chevron reported falling profits, slashed its budget and hinted at layoffs on the way. Longer-term, Watson was more optimistic.  More »

Cheap oil burns $390 billion hole in investors’ pockets

Now that oil prices have fallen below $45, any euphoria over cheaper energy will be tempered by losses that are starting to show up in investment funds, retirement accounts and bank balance sheets.  More »

Crude up slightly from 6-year low

WTI for March delivery gained 8 cents to $44.53 a barrel on the New York Mercantile Exchange.  More »

Enterprise Products profit slips slightly

Enterprise Products Partners L.P. said fourth-quarter net income fell slightly in 2014 compared to the same period last year.  More »

ConocoPhillips cuts spending again, reports earnings loss

The company will defer drilling and exploration plans in the U.S. and major project spending in general. It still expects to grow production by 2-3 percent, excluding Libya.  More »

Cameron profits rise as orders, backlog decline

Oil equipment maker Cameron International saw profits rise 15 percent in the fourth quarter on higher sales from its drilling and surface businesses, it reported Thursday.  More »

Shell cuts $15 billion of spending as profit misses expectations

Shell shares dropped as much as 4.4 percent in London and traded at 2,067 pence at 10:17 a.m.  More »

Occidental loses $3.4 billion on asset impairments

The company has cut its 2015 annual capital budget to $5.8 billion, down 33 percent from last year, as oil prices have been cut in half since June.  More »

Oil falls after U.S. crude stockpiles surge to weekly record

Crude supplies rose 8.87 million barrels to 406.7 million, the most in records compiled since August 1982 by the Energy Information Administration.  More »

Hamm: Oil prices could rise sooner than you think

The market doesn’t understand just how quickly oil companies will scale back their activities as oil prices plunge — and as a result, prices could rebound faster than many observers expect, Continental Resources CEO Harold Hamm said Wednesday.  More »

Hess misses earnings estimate on lower oil prices

Hess announced Monday it would cut its capital spending plan for the year 16 percent to $4.7 billion.  More »

BP will freeze pay for most of its employees

The announcement came today in an internal message to employees, said BP spokesman Brett Clanton.  More »

Hedge funds bet oil will fall further

U.S. crude supplies rose by 10.1 million barrels to 397.9 million in the week ended Jan. 16 and the country will pump the most oil since 1972 this year.  More »

U.K. lawmakers urge fracking moratorium

Hydraulic fracturing in shale for oil and gas should be put on hold in the U.K. because of risks to public health and the environment, a panel of lawmakers said.  More »
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