US drillers cut oil and gas rigs for first time in three weeks
(Reuters) U.S. energy firms this week cut the number...
(Reuters) U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, Baker Hughes said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by seven to 622 in the week to March 8, the lowest since Feb. 16. putting the total rig count down 124 rigs, or 16.6%, below this time last year.
Baker Hughes said U.S. oil rigsfell two to 504 this week, their lowest since Feb. 23, while gas rigs fell four to 115, their biggest drop since November.
IEA: Global oil market appears set for a stable year
Increased production from the Americas, combined with slower demand growth, will likely keep the global...
Increased production from the Americas, combined with slower demand growth, will likely keep the global oil market "relatively calm" and adequately supplied this year, according to International Energy Agency Head of Oil Industry and Markets Division Toril Bosoni. Demand growth is seen decelerating from around 2.3 million barrels per day in 2023 to a range of 1.2-1.3 million bpd this year, while non-OPEC+ nations are expected to drive supply to a record of approximately 103.8 million bpd, Bosoni said.
The US added 275,000 jobs in February, according to the government’s...
The US added 275,000 jobs in February, according to the government’s latest jobs report, which dropped yesterday. That’s more than was expected, signaling a still-hot labor market. But elsewhere, there were signs of cooling: The unemployment rate rose to 3.9%, and wage growth slowed down. This makes the report something of a choose-your-own-adventure tale for those hoping to use it to guess what Jerome Powell might be thinking about cutting interest rates.
Good morning. Tomorrow is the start of daylight saving...
Good morning. Tomorrow is the start of daylight saving time, which means a) an extra hour of light in the evening.
Apple reversed its earlier decision to block Epic Games’s developer account in Sweden. Permitting the account will let the Fortnite-maker create its own app store for European iPhones.
OpenAI reinstated Sam Altman to its board and said it has “full confidence” in his leadership following the conclusion of an investigation into what led to his brief ouster as CEO in November.
Eli Lilly’s Alzheimer’s drug donanemab has run into an unexpected delay in getting FDA approval.
Donald Trump posted a $91.63 million bond to keep E. Jean Carroll’s attorneys from trying to seize his assets as he appeals a ruling that he owes her $83.3 million for defamation.
Akira Toriyama, who created the best-selling anime Dragon Ball, has died at age 68. His work was so popular that it once caused a diplomatic incident between Japan and Mexico.
Rupert Murdoch is engaged to Elena Zhukova, a retired scientist who is reportedly the former mother-in-law of Russian oligarch Roman Abramovich. It’s the sixth engagement and will be the fifth marriage for the 92-year-old media mogul.
U.S. stocks close lower to book weekly declines after February jobs data
U.S. stocks ended lower on Friday after investors assessed February...
U.S. stocks ended lower on Friday after investors assessed February jobs data, with all three major indexes booking weekly declines, according to preliminary data from FactSet.
The Dow Jones Industrial Average closed 0.2% lower, while the S&P 500 fell around 0.7% and the technology-heavy Nasdaq Composite dropped 1.2%, preliminary FactSet data show.
The S&P 500 snapped back-to-back weekly gains after Friday’s employment report showed stronger-than-expected jobs creation in February, a slightly higher unemployment rate of 3.9% and cooler wage growth last month.
For the week, the Dow fell 0.9%, while the S&P 500 slipped 0.3% and the Nasdaq dropped 1.2%.
