A record cut to the number of active U.S. drilling rigs and billions of dollars of spending reductions by companies since last year’s price plunge has yet to translate into a slump in barrels produced.
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.
On Dec. 20, Mexican President Enrique Pena Nieto signed constitutional reforms into law to open Mexico’s energy sector to private investment. The reforms will allow international companies for the first time in decades to share in the risks and rewards of oil and gas production. Mexican lawmakers hope the reforms will attract much needed capital […]
Dilbit is made up of bitumen, a thick, sticky hydrocarbon harvested in Canada that is too hard at room temperature to flow through pipelines on its own. To ready it for pipeline transport, companies dilute the bitumen with natural gas liquids or other substances.
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