Oil Prices Mixed Amid Rising Global Overhang  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Thursday, February 28, 2019 The WTI and Brent moved in different directions Thursday. The West Texas Intermediate (WTI) and Brent crude oil benchmarks moved in different directions Thursday. The April WTI contract price gained 28 cents Thursday to settle at $57.22 per barrel. It peaked at $57.43
Energy Outlooks an Antidote for Post-Factual Age  | Rigzone
by  Andreas Exarheas | Rigzone Staff | Thursday, February 28, 2019 Energy outlooks are an antidote for this post-factual age, according to OPEC Secretary General Mohammad Sanusi Barkindo. Energy outlooks are an antidote for this post-factual age. That’s what Mohammad Sanusi Barkindo, OPEC secretary general, said in a speech at the Ninth IEA-IEF-OPEC Symposium on
Shale Firms Face Investor Frustration  | Rigzone
(Bloomberg) — Shockwaves in the c-suites of shale companies are showing investor frustration with an industry that continues to outspend cash flow. Independent drillers such as Alta Mesa Resources Inc. and Centennial Resource Development Inc., whose leaders were once rewarded for amassing vast portfolios of drilling rights, are now being punished for failing
Saudis Slice Crude Supply to US Gulf  | Rigzone
by  Bloomberg | Sheela Tobben | Thursday, February 28, 2019 Saudi Arabia sliced its crude supply to plants located on the U.S. Gulf Coast by more than half from a year ago. (Bloomberg) — Saudi Arabia sliced its crude supply to plants located on the U.S. Gulf Coast, the world’s largest refining center, by more
Why Just Looking at Oil Reserves is Oversimplified  | Rigzone
by  Jude Clemente | Rigzone Contributor | Thursday, February 28, 2019 With more oil being produced, how do reserve counts continue to increase? With BP recently reporting the estimated total at over 1.7 trillion barrels, the world today has more proven oil than it ever has in history, This is amazing of course because oil
Crude Oil Up By More Than $1  | Rigzone

Crude Oil Up By More Than $1  | Rigzone

by  Matthew V. Veazey | Rigzone Staff | Wednesday, February 27, 2019 The WTI and Brent benchmarks settled higher Wednesday. Both the West Texas Intermediate (WTI) and Brent crude oil benchmarks finished higher during midweek trading. April WTI crude oil futures settled at $56.94 per barrel Wednesday, reflecting a $1.44 gain. The benchmark traded within
U.S. Oil Imports at 23-Year-Low, Output Hits Another Record  | Rigzone
by  Bloomberg | Jessica Summers | Wednesday, February 27, 2019 Weekly crude imports fell 1.61 million barrels a day to 5.92 million, the lowest level since 1996. (Bloomberg) –The U.S. imported the least amount of crude oil on a weekly basis in 23 years, as OPEC-members Saudi Arabia and Venezuela cut their shipments to unusually
The Evolution of Digital Twins in Subsea Operations  | Rigzone
| Wednesday, February 27, 2019 We’ve already seen digital twinning transition from onshore to offshore, so subsea is an obvious next step for its application. This piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone. As digitalization grasps hold of the oil and gas industry, digital twinning is
Saudis Hold Firm on Cuts After Trump Tweet  | Rigzone
by  Bloomberg | Anthony DiPaola | Wednesday, February 27, 2019 Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against U.S. President Donald Trump’s demand to keep prices down. (Bloomberg) — Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially
Oil Climbs the Most in a Week  | Rigzone

Oil Climbs the Most in a Week  | Rigzone

by  Bloomberg | Saket Sundria | Wednesday, February 27, 2019 Oil climbed the most in a week after an industry report signaled a surprise decline in U.S. oil inventories and Russia confirmed it’s reducing production in line with an agreement by OPEC and its allies. (Bloomberg) — Oil climbed the most in a week after