(World Oil) – Oil headed for a weekly gain as traders awaited details on a U.S. campaign to isolate Iran’s economy, with no apparent end in sight to a conflict that has slashed Middle East exports. Treasury Secretary Scott Bessent said Thursday the administration would provide details of the initiative Monday after President Donald Trump described the push as an “economic
(BOE Report) – Venezuela’s dilapidated oil port terminals are imposing a de facto export cap on the country’s resurgent crude production, with tankers having to wait up to 30 days to load because of ageing infrastructure, power outages and quality issues, according to shipping data, sources and documents. The delays are putting roadblocks on a U.S. plan to quickly boost
(World Oil) – Continental Resources has agreed to acquire FireBird Energy II LLC, adding approximately 32,000 boed of oil-weighted production and expanding the company’s position in the Permian basin. FireBird, a portfolio company of Quantum Capital Group, holds approximately 54,000 net acres in the Midland basin adjacent to Continental’s existing operations. Current production is 69% oil, and the acquired assets include 307 gross operated development locations across
(Oil Price) – Saudi Arabia has boosted its crude oil exports from Egypt’s Mediterranean port of Sidi Kerir by about 33% in the month since the Houthis threatened Saudi oil shipments in the southern Red Sea and the Bab el-Mandeb Strait, tanker-tracking data compiled by Bloomberg showed on Friday. Saudi state oil giant Aramco, the world’s single largest crude oil exporter, has
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 5 last week, resulting in a total count of 588 rigs. Canada decreased by 2 over last week, resulting in a total Canadian count of 216 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Eagle Ford and the Permian experienced an increase this week.
