Tuesday, August 18, 2026
U.S. crude, distillate stockpiles rise unexpectedly -EIA- oil and gas 360

U.S. crude, distillate stockpiles rise unexpectedly -EIA

Reuters U.S. crude oil and distillate inventories rose unexpectedly and fuel demand slipped last week, the Energy Information Administration said on Wednesday, as a sharp outbreak in coronavirus cases hit U.S. consumption. U.S. crude production ticked higher and refined products supplied, a proxy for fuel demand, declined. The market has recovered from the doldrums of April, when U.S. prices briefly

Baker Hughes posts second quarterly loss as oil slump slams demand- oil and gas 360

Baker Hughes posts second quarterly loss as oil slump slams demand

Reuters Baker Hughes Co (BKR.N) posted its second consecutive quarterly loss on Wednesday and said it would continue reining in costs to prepare for a longer period of oil price volatility.   Oil producers stopped drilling new wells and drastically cut their budgets following a collapse in crude oil prices this year that clipped demand for services offered by Baker