Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
By Deb Riechmann, Associated Press WASHINGTON (AP) — The United States and other nations face many challenges and opportunities in the Arctic, a frozen frontier where melting ice is creating new shipping lanes, opening up access to massive oil, gas and mineral deposits, threatening coastal villages and posing possible future security threats. Key questions and […]
As a former oil industry executive and a member of the House Natural Resources Committee, Texas Rep. Bill Flores is at the center of big debates about offshore drilling, hydraulic fracturing and domestic energy supplies. He also is a big trader in energy stocks.
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