LONDON – Oil prices rose on Thursday on expectations OPEC and allied oil producers will deepen output cuts in an effort to prop up prices and prevent a glut next year.
A ministerial panel of key OPEC members and …
Oil gained as the U.S. and China were moving closer to a trade deal and before OPEC+ decides on its output-cut policy later this week.
Futures added as much as 1.8% in New York. The U.S. and China …
Citing rising demand and production costs, Katy frac sand company U.S. Silica is raising the price of its non-frac sand products.
In a Tuesday morning statement, U.S. Silicia that it is raising prices for most of its products …
Houston oilfield service company Halliburton plans to close an office just west of Oklahoma City where more than 800 employees are losing their jobs.
In a Monday morning letter filed with the Oklahoma Office of Workforce Development, Halliburon …
Bank of America Merrill Lynch 2020 Market Outlook: Profits Rise, Economy Slows, Globalization Peaks, and Business-as-Usual Investing Comes to an End
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LONDON – Oil prices fell on Tuesday after U.S. President Donald Trump said that a trade deal with China could be delayed until after the next U.S. presidential election, though losses were capped by expectations for deeper output cuts …
DUBAI- Saudi Aramco is worth up to $1.7 trillion at the price range set by the oil giant on Sunday, below the $2 trillion sought by Saudi’s crown prince but putting it in the running to become the world’s …
Reuters
U.S. energy producers plan to slash spending for a second straight year in 2020 as companies struggle to extract profits from the U.S. shale boom.
While U.S. crude output hit a record 13 million barrels per day (bpd) this …
LONDON- The Organization of the Petroleum Exporting Countries and its allies face stiffening competition in 2020, the International Energy Agency said on Friday, adding urgency to the oil producer group’s policy meeting next month.
“The OPEC+ countries face a …
Oil prices edged up on Wednesday after the Organization of the Petroleum Exporting Countries said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.
Also supporting …
Source: Houston Chronicle
Oil held its biggest gain in almost seven weeks after improved U.S. and Chinese economic data aided the demand outlook, while optimism increased that the U.S. and China will resolve their trade dispute.
Futures rose as much …
Source: Reuters
CARLSBAD, New Mexico (Reuters) – In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of …
Source: Reuters
LONDON (Reuters) – Darkening clouds over the global economy have led two of the world’s top oil firms to warn investors that promised growth in returns could be at risk for the first time since the 2014 oil …
Source: Reuters
LONDON (Reuters) – OPEC oil output has bounced in October from an eight-year low as a rapid recovery in Saudi Arabian production from attacks on oil plants more than offset losses in Ecuador and voluntary curbs under a …
Source: Houston Chronicle
Oil slid the most in two weeks after Saudi Arabia boosted crude output by more than a million barrels a day against the backdrop of renewed worldwide trade woes.
Futures fell as much as 2.5% in New …
Source: Reuters
LONDON (Reuters) – Oil prices eased on Friday but were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible action from OPEC and its allies to extend output cuts outweighed …
Source: Reuters
(Reuters) – Oilfield services firm Patterson-UTI reported a smaller-than-expected loss on Thursday, as cost cuts helped it limit the impact of an ongoing decline in North American shale activity.
An investor push toward higher returns instead of growth …
Source: Houston Chronicle
WASHINGTON – Plans to shrink the U.S. Strategic Petroleum Reserve by 40 percent over the next eight years risks a spike in global energy prices, a top official at the International Energy Agency warned the Senate Thursday.…
Source: Reuters
NEW YORK (Reuters) – Oil prices were narrowly mixed on Tuesday, retracing early losses on optimism about a potential Brexit deal and signals from OPEC that further supply curbs are possible, but prices remained under pressure from U.S.-China …
Source: CNBC
The U.S. has come to a “very substantial phase one deal” with China in the high-stakes trade negotiations between the two economic superpowers, President Donald Trump said Friday.
“Phase two will start almost immediately” after the first phase …
Houston oilfield service giant Halliburton has laid off 650 employees in four western states from New Mexico to North Dakota.
In a notice filed on Monday with the Colorado Department of Labor and Employment, Halliburton reported that the …
Source: Reuters:
Oil prices slid on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, though unrest in Iraq and Ecuador lent some support to crude prices.
Both Brent crude …
Source: Reuters
Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, putting new pressure on the U.S. sanctioned country and on …
Source: Houston Chronicle
Barry Marks can hear the Permian Basin slowing down.
It’s right there on country-music station 96.1 FM in Odessa, Texas, where commercials for shale-patch jobs used to fill the airways. Those kinds of radio ads have fallen …
Source: Reuters –
Iran’s supreme leader on Tuesday ruled out talks with Washington after President Donald Trump blamed Tehran for a crippling attack on Saudi Arabia’s oil facilities.
Saudi King Salman called on governments around the world to confront the …
China’s decision on September 11 to waive tariffs on an array of U.S. exports came as welcome news to a variety of American businesses, as did the Trump Administration’s reciprocal action of delaying new tariffs on Chinese goods …
OPEC and its allies will discuss whether there is a need for deeper cuts in oil production when they hold a ministerial meeting on Thursday, Iraq’s oil minister said.
The Organization of the Petroleum Exporting Countries and allied …
Fuel prices fell by another 5 cents per gallon last week in the Houston area, bringing gasoline costs to their lowest levels since March.
The average price for a gallon of regular unleaded in the Houston …
Oil prices rose above $61 a barrel on Friday as the head of the U.S. Federal Reserve said it would “act as appropriate” to sustain an economic expansion that has been pressured by uncertainty over global trade.
Global …
A former Trump administration official who oversaw oil and gas drilling on federal lands resigned last week to work for Papua New Guinea-based Oil Search Ltd, which is expanding its Alaska operations, the Washington Post reported on Wednesday.…
