Oil Set for Biggest Weekly Drop of 2019  | Rigzone
by  Bloomberg | Tsuyoshi Inajima | Friday, May 24, 2019 Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess the outlook for global growth. (Bloomberg) — Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess
Supply Risks More Material than Demand Risks  | Rigzone
by  Andreas Exarheas | Rigzone Staff | Friday, May 24, 2019 Jefferies is maintaining that negative supply side risks are more material than perceived demand risks. Global investment banking firm Jefferies is maintaining that negative supply side risks are more material than perceived demand risks, Jason Gammel, the company’s equity analyst, has revealed. “In particular,
US Drillers Drop Five Rigs  | Rigzone
by  Valerie Jones | Rigzone Staff | Friday, May 24, 2019 The U.S. dropped five oil rigs and gained one gas rig for a net loss of four rigs this week. The U.S. dropped oil rigs for the third week in a row, according to weekly data from Baker Hughes, a GE Company. This week,
Trump Sparks Oil Rally Then Rout  | Rigzone
by  Bloomberg | Grant Smith | Friday, May 24, 2019 At the heart of both price moves is the foreign and economic policy of Donald Trump. (Bloomberg) — Just over a week ago, crude prices were surging as attacks on Saudi Arabia’s oil tankers and pipeline network spurred fears that the Middle East was on
Activist Investors Push for Change at PDC Energy  | Rigzone
by  Bloomberg | Scott Deveau | Friday, May 24, 2019 U.S. shale producers that have reined in growth plans to mollify investors are facing more pressure to slash their own pay and gut bloated offices. (Bloomberg) — The push for change at oil and gas producer PDC Energy Inc. has won the support of another
Producing More with Less Cash and a Flat Rig Count  | Rigzone
by  Valerie Jones | Rigzone Staff | Friday, May 24, 2019 Senior economist for the Dallas Fed shares how oil and gas companies can spend less money, keep the rig count flat and grow production. How can oil and gas companies spend less money, keeping the rig count relatively flat all while growing production? Jesse
Exxon, Others Leading High-Impact Drilling Rebound  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Friday, May 24, 2019 High-impact drilling is rebounding amid a changing competitive landscape. Large oil and gas companies are commanding a greater role in high-impact exploration, but a lack of depth in the quality of global drilling opportunities diminished their performance in 2018, Westwood Global Energy Group
Oil Slumps to Worst Weekly Loss of Year  | Rigzone
by  Bloomberg | Catherine Ngai and Alex Nussbaum | Friday, May 24, 2019 Futures in New York rebounded somewhat on Friday but still ended the week down 6.6 percent. (Bloomberg) — Oil limped to its worst weekly loss of the year as tensions lingered over how the trade feud between the world’s top economic super
Oil Extends Losses  | Rigzone

Oil Extends Losses  | Rigzone

by  Bloomberg | Tsuyoshi Inajima | Thursday, May 23, 2019 Oil extended losses after a surprise jump in American crude inventories alleviated concerns over a supply crunch. (Bloomberg) — Oil extended losses after a surprise jump in American crude inventories alleviated concerns over a supply crunch, while the demand outlook remained bleak as there was
Oil Prices Plunge  | Rigzone

Oil Prices Plunge  | Rigzone

by  Matthew V. Veazey | Rigzone Staff | Thursday, May 23, 2019 The WTI and Brent contract prices settled below $60 and $70, respectively. West Texas Intermediate (WTI) crude oil shed nearly six percent Thursday while the Brent benchmark lost more than four percent. July WTI futures lost $3.51 Thursday, settling at $57.91 per barrel.