By: Kevin Crowley & Rachel Adams-Heard at Bloomberg – One of the biggest Texas shale explorers warned it will halt all drilling...
By Ryan Dezember and Vipal Monga, Wall Street Journal –ENERGY: Canceled orders were mounting when Texland Petroleum LP recently decided to shut in each of...
NEW YORK (Reuters) – Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to...
Jordan Blum – S&P Global Platts – HOUSTON — US commercial crude storage could hit its capacity in mid-May as refinery demand and...
Reuters – Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time...
AXIOS – Pain in the U.S. oil patch from the coronavirus outbreak is no longer on the horizon. It’s here, and several...
Williston Herald – A University of North Dakota economist anticipates that it won’t take as long for the Bakken to recover from...
CNBC – Some of the world’s largest oil producers will meet to discuss a historic production cut later this week, with energy...
Wal van Lierop – Forbes – The COVID-19 pandemic has shuttered the world’s economies, overwhelmed healthcare systems and taken loved ones from...
NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries in half. In...
(Bloomberg) OPEC+ is expected to revive some curtailed crude production in April following US President Donald Trump’s appeals to the group to lower prices, said Jason Prior, Bank of America Corp.’s head of oil trading.
“We expect some production to be brought back to market,” Prior said in an interview Monday. The group, led by Saudi Arabia and Russia, may restore around 150,000 barrels a day of production starting in April, he said.
Trump has been pushing OPEC+ — which halted some output in 2022 — to lower oil prices in a bid to pressure Russia to end the war in Ukraine. Prices of West Texas Intermediate, which peaked in mid-January to $80 a barrel, have since retreated and are now close to $70.
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U.S. stocks ended mostly lower Monday, with the S&P 500 failing to land in positive territory after wavering between gains and losses during the trading session.
The S&P 500 fell 29.88 points, or 0.5%, to close at 5,983.25.
The technology-heavy Nasdaq Composite dropped 237.08 points, or 1.2%, to finish at 19,286.92.
The Dow Jones Industrial Average rose 33.19 points, or 0.1%, to end at 43,461.21.
The S&P 500 was dragged down by a sharp loss in its biggest sector, information technology, which slumped 1.4% as shares of Big Tech companies including Nvidia Corp. and Microsoft Corp. dropped.
Investors' worries over tariffs also appeared to weigh on the market, after President Donald Trump indicated on Monday that tariffs on Canada and Mexico will take effect next week after their 30-day pause concludes.
The U.S. stock market struggled to recover from Friday's selloff, which had left all three major benchmarks down for the week.
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by Bloomberg [via RigZone.com] |Veena Ali-Khan, Mia Gindis| Oil notched its biggest weekly gain...
By DANIEL JONES, US CONSUMER EDITOR | Daily Mail | and REUTERS | Exxon Mobil...
Ukraine’s ongoing drone campaign has become a major headache for Moscow, targeting one of...
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By Claire Hao, Staff Writer| Houston Chronicle| Vistra plans to build two new natural gas...
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