Sunday, June 21, 2026
Trump administration working to ease drilling industry cash crunch- oil and gas 360

Trump administration working to ease drilling industry cash crunch

Reuters WASHINGTON – The Trump administration is seeking to ease a severe cash crunch in the drilling industry by raising loan limits available under a coronavirus stimulus package and by barring lenders from discriminating against drillers, according to Energy Secretary Dan Brouillette. The measures come as oil and gas companies working in shale basins from Texas to Wyoming struggle to

Crude oil held in sea storage hits new record at 160 million bbls: sources- oil and gas 360

Crude oil held in sea storage hits new record at 160 million bbls: sources

Reuters LONDON – Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say. Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed

U.S. rig count had an increase of 1 this week, at 255- oil and gas 360

U.S. rig count decreased by 73 this week, at 529

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had a decrease of 73 over last week, resulting in a total count of 529 rigs. Canada had a decrease of 5 over last week, resulting in a total Canadian count of 30 rigs. Breakdown by region Of the regions tracked by Baker Hughes, no regions saw