Thursday, July 9, 2026
Cushing oil storage tanks -oilandgas360

Global Oil Inventory Data of Dubious Reliability: Dallas Fed

Revisions can substantially change overall picture Global inventories of crude oil are much in the news currently, and reducing them is the main goal of OPEC’s cut agreements. However, according to the Federal Reserve Bank of Dallas, all is not right with the numbers. According to the Texas-based number crunchers, global inventory data may not be as accurate as assumed.

Roughnecks at drill site.

U.S. Land Rigs Pierce 900 Once Again

Wyoming sees largest increase Drilling activity increased this week, according to Baker Hughes’ Weekly Rig Count. The total number of rigs active in the U.S. rose by eight to 923 this week, marking the third straight week of increasing activity. Seven of these rigs are based on land, while one offshore rig became active. There are now a total of

Finding Costs Drop to 10-Year Low - Oil & Gas 360

Fed Plans to Hike Rates, WTI Reaches Two-Year Highs

$58 WTI in intraday trading Minutes from the Federal Reserve’s October 31-November 1 meeting were released today, giving information about a rate hike in December. Bottom line: the Fed kept interest rates unchanged this meeting, but signaled a rate hike in December. “Many participants thought that another increase in the target range for the federal funds rate was likely to