Oil prices take a breather, OPEC+ sticks to output plans
LONDON (Reuters) – Oil prices fell on Thursday amid profit-taking, but remained underpinned by tight...
LONDON (Reuters) – Oil prices fell on Thursday amid profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases.
Brent crude was down 73 cents, or 0.8%, to $88.74 a barrel at 1345 GMT, after rising 31 cents on Wednesday. U.S. West Texas Intermediate crude was down 84 cents, or 0.9%, at $87.42 a barrel, having gained 6 cents the previous day.
Tech Stocks Set to Drop After Facebook Profit Disappoints
The rally in U.S. stocks looked set to stumble as investors hammered shares of Facebook owner...
The rally in U.S. stocks looked set to stumble as investors hammered shares of Facebook owner Meta Platforms premarket and awaited earnings from Amazon.com,Ford Motor and Snap.
Futures for the technology-focused Nasdaq-100 dropped 1.9% Thursday, signaling tech stocks would come under pressure. The tumble came as investors wiped 22% off the stock price of Meta, which painted a gloomy outlook in its earnings report, in premarket trading.
Economic Report: U.S. jobless claims drop 23,000 to 238,000 as omicron wave recedes
New requests for U.S. unemployment benefits fell for the second week in a row to 238,000, as the record...
New requests for U.S. unemployment benefits fell for the second week in a row to 238,000, as the record omicron wave receded and more people were able to go back to work.
Hannathon Reportedly Offering Midland Basin Acreage Valued around $500 Million
Private U.S. oil and gas producer...
Private U.S. oil and gas producer Hannathon Petroleum LLC has retained an investment bank to sell around 18,000 net acres in the Northern Midland Basin of Texas, according to marketing documents seen by Reuters.
The assets could be valued at around $500 million in a sale, a source familiar with the matter said. The source requested anonymity as the sale plan is confidential.
Shale operators have leaned heavily on dealmaking in recent months as a strong rebound in oil and gas prices has given companies a window to sell assets at attractive prices. The global crude oil benchmark on Jan. 31 traded at over $91/bbl, up 62% from a year earlier.
Oilfield Servicers bullish about N. American business
Oilfield services majors Schlumberger, Halliburton and Baker...
Oilfield services majors Schlumberger,Halliburton and Baker Hughes expect to benefit from an up-to-25% projected jump in spending by North American drillers in 2022, which should allow more room to increase services pricing. "Tight oil supply and demand growth beyond the pre-pandemic peak are projected to result in a substantial step-up in capital spending," Schlumberger CEO Olivier Le Peuch said.
