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Energy Information Administration

Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. The fastest oil-inventory growth on record at the main U.S. hub may be about to end, easing concern that storage limits will be strained. Photographer: Daniel Acker/Bloomberg

Crude ends with a gain, after volatile day of trading

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U.S. benchmark oil futures had opened lower on the day but traded to a gain shortly before the report was released. After the inventory data came in, prices reversed course and fell by 98 cents or 2.16 percent to $44.43 per barrel.
An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Government report: Gasoline prices won’t climb if U.S. exports its oil

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The EIA analysis also throws some cold water on the entire pro-export crusade, suggesting that widely selling U.S. crude abroad would do little to boost either domestic oil prices or production.
(AP Photo/Charles Rex Arbogast, File)

EIA revises US oil production estimates lower; June output sank

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The federal government believes daily U.S. crude production fell to 9.3 million barrels in June, down by 100,000 barrels in the prior month, as low oil prices continue to discourage drilling.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Drillers added just one oil rig this week

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The Baker Hughes rig count, considered a proxy for oil field activity, showed rigs drilling for oil increasing from 674 last week to 675 this week.
(Lucas Schifres/Bloomberg)

Low natural gas prices this summer set to linger into winter

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The result of increased production has been a stalemate between demand and supply in 2015 — natural gas prices today are about 5 percent lower than they were on Jan. 1.
(Shane Bevel/Bloomberg News)

Crude oil gains on inventory news

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The gain came as the U.S. EIA said Wednesday that crude oil inventories fell by 1.7 million barrels in the week ending August 8. Commercial stores of crude oil now stand at 453.6 million barrels.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Crude gains on inventory decline

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Crude oil shot up Wednesday, after a government report showed an unexpected decline in stores of oil last week.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

How much oil does Texas really produce? The EIA now says it has a better way to count

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The goal is to arrive at data that can better track how Texas’ production is responding to the volatile price swings on the crude oil markets, said Gary Long, a petroleum engineer at the EIA who works on production data.
Supporters of a successful effort in 2012 to renationalize Argentina's largest oil company, YPF, wave flags. (AP Photo/Natacha Pisarenko)

Argentina, China ripe for more shale development, EIA says

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Outside of North America, Argentina and China are the only two nations that are producing commercial quantities of natural gas trapped in deep-seated shale formations, and they both have the capacity to grow their output substantially, the U.S. Energy Information Administration said in a report Friday.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

EIA: Oil layoffs aren’t finished yet

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The U.S. petroleum industry lost about 6.5 percent of its jobs from October to April, or about 35,000 of its 538,000 workers, the Energy Information Administration said Tuesday.