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Friday, September 19, 2025

April 12, 2023

Diamondback looks to sell Permian basin assets for $1 billion- oil and gas 360

Diamondback looks to sell Permian basin assets for $1 billion

April 12, 2023

World Oil (Bloomberg) – Diamondback Energy Inc. is looking to sell non-core assets in the western Permian Basin as the oil producer looks to cash in on an increasingly active deal market in U.S. shale.   The company is working with a financial adviser to seek a buyer for assets around Pecos County, Texas according to people familiar with the

Exxon: Decarbonization business is set for huge growth- oil and gas 360

Exxon: Decarbonization business is set for huge growth

April 12, 2023

Oil Price Last month, Exxon Mobil (NYSE:XOM) pulled the plug on its 14-year-long algae biofuels project, becoming the last oil company to abandon what was once considered the fuel of the future. The whole idea was not without merit, though. Algae do have some clear advantages over other biofuel candidates, mainly because these photosynthetic microorganisms are super-efficient at converting sunlight into biomass, have high lipid content

OPEC+ cuts sent bullish bets on Brent soaring- oil and gas 360

OPEC+ cuts sent bullish bets on Brent soaring

April 12, 2023

Oil Price Money managers boosted their net bullish bets on Brent Crude by the second-largest amount on record following the surprise announcement from major OPEC+ producers that they would remove more than 1 million barrels per day (bpd) from the market between May and December. Speculators and traders added as many as 73,000 contracts to the net long position –

Oil up slightly as market awaits key US inflation data- oil and gas 360

Oil up slightly as market awaits key US inflation data

April 12, 2023

BOE Report Oil prices slightly rose on Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on future interest rate hikes.   U.S. West Texas Intermediate rose 77 cents, or 0.95% to $82.29 a barrel. Brent crude climbed 87 cents, or 1.02% to $86.28 a barrel. Prices had

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 0.6 million barrels

April 12, 2023

Weekly Crude Oil Storage as of April 7, 2023     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.6 million barrels from the previous week.  At 470.5 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year, according to the EIA crude oil and

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