By Mella McEwen,Oil Editor |Midland Reporter Telegram| Endeavor Energy Resources announced on Friday the passing of its founder and chairman of the board,...
Governor Gavin Newsom’s recent proposal to require California refiners to maintain a minimum fuel reserve may seem like a bold move to...
Story by Andreas Exarheas| RigZone.com| Hedge funds and Commodity Trading Advisors (CTAs) reduced their longs across the four main Brent and WTI...
Chevron has achieved a significant milestone in oil production, announcing on Monday that it has successfully pumped oil from a field operating...
Rachel More and Anna Wlodarczak-Semczuk |REUTERS| BERLIN| Poland received a European arrest warrant from the Germans in Berlin, concerning the 2022 attack...
The Colorado Energy and Carbon Management Commission (ECMC), the state body overseeing oil and gas operations, has taken a significant step by...
Story by Andreas Exarheas| RigZone.com| Geopolitical risks in the Middle East have risen to their highest level since the start of the...
The owner of the dormant Three Mile Island nuclear power plant is actively exploring the possibility of restarting the reactor, which was...
In the sweltering heat of July 2018, Dale Redman, an oilfield service executive with a flair for the extravagant, made a move...
Story By Tsvetana Paraskova|Oilprice.com| While U.S. crude oil production breaks record highs, the number of upstream and oilfield services jobs is flatlining...
U.S. energy firms this week cut the number of oil rigs operating for a second week in a row to the lowest since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday.
The combined oil and natural gas rig count, traditionally an early indicator of future output, fell by two to 616 in the week to Nov. 10, the lowest since February 2022, which puts the total rig count down 163, or 21%, below this time last year.
The number of active rigs has dropped since December due to weaker energy prices and as many firms return profits to investors and pay down debt rather than spending to boost production. However, U.S. oil and gas production is still set to hit record highs this year as demand grows and the industry boosts efficiency to offset the impact of the lower prices.
The number of oil rigs fell by two to 494 this week, while gas rigs were unchanged at 118.
The energy sector is moving higher this morning, supported by strength in the crude complex and in the major equity futures. Wall Street futures inched higher as investors assessed Federal Reserve Chair Jerome Powell's hawkish commentary and looked forward to key economic data next week for more cues on the monetary policy path.
WTI and Brent crude oil futures are trading higher for the second-consecutive session due to comments made by the US Fed Chair on more interest rate hikes and on Israel's ongoing attacks on Gaza, fueling supply fears. However, weakening China's Price Index, which fell 2.7 percent yearly and 0.2 percent monthly in October, and the rise in US crude oil stockpiles by an estimated 11.9 million barrels limited price upswings. Meanwhile, OPEC+ is set to meet on Nov. 26 to establish production policy, and the focus will be on whether Saudi Arabia extends a 1 million barrel-per-day voluntary cut set to expire at the end of this year.
Natural gas futures slid for the fifth-straight day on record output and forecasts for mild weather through late November that should limit heating demand and allow utilities to keep injecting gas into storage for a couple more weeks.
By Adam Smeltz | UNIVERSITY PARK, Pa. – Oil produced from shale reservoirs drove...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
Key Highlights Global oil inventories are expected to grow more than 2 million b/d...
The race to lower costs and accelerate production timelines in the Permian Basin has...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
By Andreas Exarheas | RigZone.com |The U.S. Energy Information Administration (EIA) cut its West...
The U.S. Geological Survey has released a fresh look at the Phosphoria Total Petroleum...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
Mergers and acquisitions in the U.S. oil and gas sector surged in 2024, more...
US crude inventories drop by 6 million barrels, exceeding forecasts Uncertainty over Ukraine peace...
Have your oil & gas questions answered by industry experts.