Tuesday, December 16, 2025
Wall Street turns positive on Exxon after a brutal year. But some experts warn it could get much worse- oil and gas 360

Wall Street turns positive on Exxon after a brutal year. But some experts warn it could get much worse

CNBC U.S. oil giant Exxon Mobil endured a dreadful year by virtually every measure in 2020. The Irving, Texas-based company reported four consecutive quarters of losses, incurred the biggest write-down in its modern history, laid off thousands of employees, saw its market value plunge more than 40% and was dropped from the blue-chip Dow Jones Industrial Average. CEO Darren Woods has since said the last 12 months “presented

Brent near $60 as OPEC+ cuts tighten oil market- oil and gas 360

Brent near $60 as OPEC+ cuts tighten oil market

Reuters LONDON – Brent crude prices are approaching $60 a barrel, a one-year high, driven in large part by OPEC+ cuts that are set to keep the oil market in deficit this year. The coronavirus pandemic ravaged oil demand as economies around the world had to shut down for extended periods of time to curb the spread of the virus.

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count increased by 8 this week, at 392

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had an increase of 8 over last week, resulting in a total count of 392 rigs. Canada had a decrease of 3 over last week, resulting in a total Canadian count of 171 rigs. Breakdown by region Of the regions tracked by Baker Hughes, 3 regions, the

Lack of overhauls at U.S. refiners could stall industry recovery- oil and gas 360

Lack of overhauls at U.S. refiners could stall industry recovery

Reuters NEW YORK/HOUSTON – U.S. oil refiners are predicting a strong recovery in fuel demand in the second half of this year as vaccination rates increase and workers are expected to resume commuting and taking vacations. But oil processors appear to be skimping on routine spring overhauls that typically prepare refineries for peak summer output. Maintenance cutbacks could make it

Oil hits highest in a year on growth hopes, OPEC+ cuts- oil and gas 360

Oil hits highest in a year on growth hopes, OPEC+ cuts

Reuters NEW YORK – Oil prices hit its highest in a year on Friday, closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies. Oil was also supported as U.S. stock markets hit record highs on signs of progress towards more economic stimulus, while a closely watched jobs report