Permian Leads US in Rig Count Decline  | Rigzone
by  Valerie Jones | Rigzone Staff | Friday, July 12, 2019 The U.S. dropped a net total of five rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped a net total of five rigs this week, according to weekly data from Baker Hughes, a GE Company. This brings the nation’s overall
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
Oil Jumps on Gulf Storm and Stockpile Draw  | Rigzone
by  Bloomberg | Tsuyoshi Inajima | Thursday, July 11, 2019 Oil extended gains after closing at a seven-week high as around a third of the Gulf of Mexico’s crude output was cut before a potential hurricane. (Bloomberg) — Oil extended gains after closing at a seven-week high as around a third of the Gulf of
OPEC Sees New Oil Surplus Next Year  | Rigzone
by  Bloomberg | Grant Smith | Thursday, July 11, 2019 OPEC’s first forecasts for 2020 showed it faces an even longer and tougher challenge. (Bloomberg) — A week after OPEC agreed to keep oil production restrained until early next year, the group’s first forecasts for 2020 showed it faces an even longer and tougher challenge.
Tropical Storm Barry Curbs Production in GOM  | Rigzone
by  Bloomberg | Brian K. Sullivan | Thursday, July 11, 2019 Tropical Storm Barry is barreling toward Louisiana and could hit the coastline as a hurricane by Saturday, causing close to $1 billion in damage and worsening flooding in New Orleans. (Bloomberg) — Tropical Storm Barry is barreling toward Louisiana and could hit the coastline
Iran Tries to Stop UK Oil Tanker  | Rigzone
by  Bloomberg | Tim Ross and Anthony DiPaola | Thursday, July 11, 2019 The British navy intervened to stop Iran from blocking a commercial oil tanker leaving the Persian Gulf. (Bloomberg) — The British navy intervened to stop Iran from blocking a commercial oil tanker leaving the Persian Gulf, heightening friction just as European nations
Oil Prices Ease Downward  | Rigzone

Oil Prices Ease Downward  | Rigzone

by  Matthew V. Veazey | Rigzone Staff | Thursday, July 11, 2019 A tropical storm and ongoing Strait of Hormuz security concerns failed to prevent the WTI and Brent from declining Thursday. Despite a tropical system in the U.S. Gulf of Mexico (GOM) and ongoing security concerns in the Strait of Hormuz, West Texas Intermediate
Oil Prices Surge on Fed and DOE Reports  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Wednesday, July 10, 2019 The WTI and Brent benchmarks posted strong gains Wednesday. The West Texas Intermediate (WTI) and Brent crude oil benchmarks posted strong gains Wednesday, bolstered by bullish indicators from U.S. Federal Reserve Chairman Jerome Powell and the U.S. Department of Energy (DOE) “The talk
Oil Up on Falling Stockpile Report, Iran Tension  | Rigzone
by  Bloomberg | Sharon Cho | Wednesday, July 10, 2019 Oil jumped the most in a week as an industry report showing a continued draw-down in U.S. crude inventories tightened a supply outlook that’s being threatened by rising tension in the Middle East. (Bloomberg) — Oil jumped the most in a week as an industry