Reuters LONDON – Oil prices fell on Wednesday as faltering fuel demand because of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package. Brent crude LCOc1 was down 49 cents, or 1.8%, at $26.66 a barrel at 1400 GMT after touching a low of $25.68. U.S. crude CLc1 was down 42 cents, or 1.75%, at $23.59 after a
By Tyler Losier, Energy Reporter, Oil & Gas 360 Black Bay Energy Capital forms partnership with Total Operations and Production Services Black Bay Energy Capital, a private equity firm focused primarily on the oilfield services and equipment sector, has formed a partnership with, and made an investment in, Total Operations and Production Services (TOPS). TOPS, which operates in the Permian
From Reuters Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. Investors were
From Reuters Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell. The company, like many other U.S. oil producers, is extracting more crude from its wells in the prolific shale basins against the backdrop of pressure to cut back on spending
From Reuters Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand. During the session, Brent traded at a low of $58.81 a barrel, down more than 22% from its peak in April. That decline puts the
From Reuters Oil prices have continued to drift lower after plunging last week, highlighting the risk for traders trying to exploit mean-reversion strategies by buying futures contracts after a sharp fall in prices. Front-month Brent futures prices tumbled by more than 7% on Thursday, a percentage change equivalent to more than three standard deviations for all daily price moves since
From CNBC A year ahead outlook report from Bank of America Merrill Lynch expects Brent crude to regain its recent losses in 2019 and settle at $70 a barrel. But amid mounting global uncertainty on everything from trade and monetary policy to politics, that forecast is far from consensus. After a dramatic summit of OPEC and non-OPEC members over the
Inventory declines have brought prices to three-year highs The International Energy Agency (IEA) released its monthly Oil Market Report today, outlining the group’s analysis of the overall oil market. In March 2018, OECD stocks declined by 27 million barrels to 2,819 million barrels – 214 million barrels below year-ago levels. This is the lowest level in three years, the IEA
The EIA’s Jeff Barron joined the EnerCom Dallas conference last week, both as an attendee and as a presenter. At lunch time Thursday he laid down a detailed, analytical presentation that spoke volumes to the analysts, institutional investment officers and the oil and gas management teams in the room. Barron serves the U.S. Department of Energy’s Energy Information Administration (EIA)
Hi-Crush Partners LP (ticker: HCLP) reported its Q4 and full year 2017 results. Revenues for the fourth quarter of 2017 totaled $216.5 million on sales of 2,985,115 tons of frac sand. This compares to $167.6 million of revenues on sales of 2,456,195 tons of frac sand in the third quarter of 2017. “Hi-Crush’s performance in the fourth quarter is the
The International Energy Agency (IEA) released a new Oil Market Report (OMR) today. In its OMR, the IEA said countries across the globe have been steadily consuming more and more oil over the past few years. The IEA said that global oil demand growth for 2018 has increased slightly to 1.4 million barrels per day (mb/d), partly due to an
Natural gas production is expected to increase in 2017, after seeing its first decline in over a decade in 2016 Natural gas production is expected to increase during the course of 2017, according to the Energy Information Administration (EIA). The agency expects the U.S. to produce 73.7 Bcf/d this year, up approximately 2% from last year. The increase in production
