By: Ed Hirs – Forbes – When does $9 equal $40? When the alchemists in the oil patch present their numbers to...
By: Jack Money – The Oklahoman – The three-member Oklahoma Corporation Commission on Wednesday denied a request to limit the amount of...
Houston Chronicle – Most analysts predict the oil price crash that has led to steep losses, thousands of layoffs, and a growing...
By: Jack Money – The Oklahoman – Congress is being lobbied to consider economic stimulus packages for energy industry states, including Oklahoma....
By: Albert Wynn – Bloomberg Law – We put natural gas in the spotlight as the nation has begun reopening state by...
Forbes – Much has been reported about the many impacts the COVID-19 pandemic has had on the U.S. oil and gas industry,...
Forbes – Oil service companies are struggling as French giant Schlumberger announced on Wednesday that it will book a $1.4 billion charge against its...
Roger Conrad – Forbes – The whole thing took almost a year and a half from start to finish. But Atlantic Coast...
By: Christopher M. Matthews and Andrew Scurria – The Wall Street Journal – Banks are slashing credit lines to shale drillers, as...
Houston Chronicle – More than 100,000 U.S. oil and gas jobs have been lost during the economic downturn brought on by the...
(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.
by Andreas Exarheas | RigZone.com |In a release sent to Rigzone this week, Enverus announced...
By Tsvetana Paraskova for Oilprice.com | U.S. oil producers flocked to hedge higher prices...
Story By Andreas Exarheas | RigZone.com |The U.S. Energy Information Administration (EIA) revealed its...
By a 6–0 vote, the Texas Supreme Court has handed a major victory to...
A-list actors are turning their attention to Wall Street, and this time, the plot...
The oil and gas sector is undergoing a major digital overhaul, and data is...
Amid rising global tensions following U.S. strikes on Iranian nuclear sites, former President Donald...
By Tsvetana Paraskova for Oilprice.com | Equinor and its partners have decided to invest...
(Reuters) -An $88 million satellite backed by billionaire Jeff Bezos that detected oil and...
Story By Andreas Exarheas| RigZone.com |Executives from oil and gas firms have revealed where...
Global energy markets are watching a delicate balancing act unfold. Between renewed signals of...
Have your oil & gas questions answered by industry experts.