(Oil & Gas 360)- It was Thanksgiving Day 2014 when the U.S. oil industry was confronted with its biggest challenge in decades following Saudi Arabia’s attempt to leverage an oil glut of the time to preserve market share while squeezing American oil producers with their higher cost structure. The ploy worked…for a while. Not only did oil prices fall more
(Oil Price) – Global natural gas demand rose by 6.1 billion cubic meters (bcm) in September from a year earlier, and inventories jumped to a record high, the Joint Organizations Data Initiative (JODI) said in its monthly oil and gas overview on Monday. Worldwide natural gas production also rose year-over-year by 7.65 bcm in September, according to the latest data after 52 countries
(Oil Price) – The United States is the world’s largest oil producer, pumping some 13 million barrels every day. Yet the U.S. is also the biggest consumer of crude, a major exporter, and a country with an empty strategic petroleum reserve. Continental Resources founder Harold Hamm called the U.S. “unusually vulnerable” to an oil shock. Just a month ago, such
