Oil Holds Losses as Storm Moves Inland  | Rigzone
by  Bloomberg | Tsuyoshi Inajima | Tuesday, July 16, 2019 Oil held losses below $60 a barrel after the biggest decline in almost two weeks. (Bloomberg) — Oil held losses below $60 a barrel after the biggest decline in almost two weeks as a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved
OPEC+ Cuts Must be Extended Through 2020  | Rigzone
by  Andreas Exarheas | Rigzone Staff | Tuesday, July 16, 2019 OPEC+ cuts will need to be extended through 2020 just to keep the market in balance, according to Jefferies. OPEC+ cuts will need to be extended through 2020 just to keep the market in balance. That’s according to a research note sent to Rigzone
Pemex Aims to Reverse Oil Declines, Balance Budget  | Rigzone
by  Bloomberg | Amy Stillman | Tuesday, July 16, 2019 Mexico’s Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year. (Bloomberg) — Mexico’s Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining
America's Hottest Shale Play Is Waning  | Rigzone
by  Bloomberg | Ryan Collins | Tuesday, July 16, 2019 The engine of America’s shale boom is beginning to sputter. (Bloomberg) — The engine of America’s shale boom is beginning to sputter. Slowing Growth The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing some signs of
Oil Companies Donate $16.5MM to Open Schools in Permian  | Rigzone
by  Valerie Jones | Rigzone Staff | Tuesday, July 16, 2019 A group of Permian Basin energy companies will donate $16.5 million to help open 14 schools in Midland and Odessa by 2025. The Permian Strategic Partnership, a group of 20 Permian Basin energy companies, will donate $16.5 million to help open 14 schools in
Oil Near $60 After Storm Disruption  | Rigzone
by  Bloomberg | Saket Sundria | Monday, July 15, 2019 Futures eased in New York after advancing 4.7 percent last week. (Bloomberg) — Oil traded near $60 a barrel after a storm shut almost three-quarters of U.S. Gulf of Mexico crude production, even as lingering supply and demand concerns continue to dent the outlook. Futures
UK Wants Iran Tanker Guarantees  | Rigzone
by  Bloomberg | Chiara Vasarri | Monday, July 15, 2019 The U.K. will facilitate the release of the tanker if it receives guarantees that it will not be going to Syria, Foreign Secretary Jeremy Hunt says. (Bloomberg) — The U.K. will facilitate the release of the tanker if it received “guarantees that it would not
Light Crude Settles Below $60  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Monday, July 15, 2019 WTI and Brent crude oil prices edged downward Monday. West Texas Intermediate (WTI) and Brent crude oil prices edged downward Monday. The WTI for August delivery lost 63 cents to settle at $59.58 per barrel. The light crude marker peaked at $60.92 and
Energy Activity for US 10th Dist. Up in 2Q  | Rigzone
by  Valerie Jones | Rigzone Staff | Friday, July 12, 2019 Following a quarter of flat activity, the U.S. 10th District saw a slight uptick in the second quarter, according to results from the Kansas City Fed’s 2Q energy survey. Following a quarter of flat activity, the U.S. Tenth District saw a slight uptick in
Oil Prices Up for the Week  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Friday, July 12, 2019 WTI and Brent crude oil prices were mixed Friday but up for the week. West Texas Intermediate (WTI) and Brent crude oil prices were mixed Friday but up for the week. The WTI for August delivery settled at $60.21 per barrel Friday, reflecting