OilPrice.com. Over the past two years, global energy companies have enjoyed record profits amid high commodity prices, with the International Energy Agency...
Story Credit: Kevin Robinson-Avila, Albuquerque Journal, N.M. Canadian company Eavor Inc. drilled an 18,000-foot well bore this past fall in southwest New...
(Bloomberg) — A billionaire seeking to build a resort with luxury homes in the Texas Hill Country is facing off against neighbors...
Story by Michael Hawthorne, Chicago Tribune. Oil refineries are dumping massive amounts of toxic chemicals, heavy metals and pollution into the Great...
By: Bloomberg – US President Joe Biden is nearing a critical decision on a massive proposed oil project in northwest Alaska that...
By: Hellenic Shipping News – Argentina posted record production of shale oil in December, the energy ministry said on Tuesday, as the...
From Hart Energy. Halliburton Co. reported a 21% hike in quarterly net income to $656 million on Jan. 24, beating analysts’ estimates...
By: The Dallas Morning News – Consolidation in the Texas Oil Patch is gaining momentum this week after Dallas-based Matador Resources Co....
Story Credit: Yahoo News. At a White House press briefing on Monday, Energy Secretary Jennifer Granholm was asked by Yahoo News to...
By: Reuters – President Joe Biden will veto a bill by U.S. House of Representatives Republicans on the Strategic Petroleum Reserve (SPR)...
(Reuters) - Oil prices rose nearly 2% on Monday as signs of strong demand more than offset the impact of a higher-than-expected OPEC+ output hike for August and fresh concerns about the potential impact of U.S. tariffs.
Brent crude futures settled up $1.28, or 1.9%, at $69.58. U.S. West Texas Intermediate crude settled up 93 cents or 1.4%, at $67.93. Early in the session, Brent had fallen as low as $67.22 and WTI's session low was $65.40.
"The supply picture definitely looks to be elevating; however, the stronger demand is remaining above expectations as well," said Dennis Kissler, senior vice president of trading at BOK Financial.
Travel industry statistics released last week showed that a record number of Americans had planned to travel for the Fourth of July holiday by road and air.
On Saturday, the Organization of the Petroleum Exporting Countries and allies in OPEC+ agreed to raise production by 548,000 barrels per day in August, exceeding the 411,000-bpd hikes they made for the prior three months.
The OPEC+ decision will bring nearly 80% of the 2.2 million-bpd voluntary cuts from eight OPEC producers back into the market, RBC Capital analysts, led by Helima Croft, said in a note.
However, the actual output increase has been smaller than planned so far and most of the supply has been from Saudi Arabia, analysts said.
U.S. stocks ended lower on Monday after President Donald Trump released letters to trading partners including Japan, South Korea, Laos and Myanmar, announcing tariffs ranging from 25% to 40%.
The Dow Jones Industrial Average went down 422.17 points or 0.9% to close at 444,06.36, recording its largest one-day point and percentage decline since June 13.
The S&P 500 fell 49.37 points or 0.8% to finish at 6,229.98, snapping its back-to-back gains.
The Nasdaq Composite declined 188.59 points or 0.9% to end at 20,412.52, also snapping back-to-back gains.
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Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
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The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Trying to catch up in oil and gas production is difficult enough. It becomes...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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