Archives for August 2016
Shale drillers party like it’s 2014 as oil finds bull market
Shale drillers are adding the most oil rigs since crude was worth $100 a barrel as confidence that OPEC may finally agree to freeze output pushed futures into a bull market. U.S. producers have put...
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Market Currents: North Sea, Nigeria oil exports falling
As we truck on into the weekend, oil has turned lower after six consecutive days of rallying. (Only another 5.5 weeks until potential freeze talks in Algeria…). Later we get the latest CFTC data to...
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Exxon, Chevron, Hess agree to joint bid for Mexico offshore reserves
Exxon Mobil Corp., Chevron Corp. and Hess Corp. have agreed to bid together for rights to drill for crude in Mexico’s deepwater oil areas, according to a person with direct knowledge of the plans. The...
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Oil heads to best week since April
Oil headed for its strongest weekly increase in four months after entering a bull market amid speculation that major producers may act to freeze output as U.S. crude and fuel stockpiles decline. Futures were little...
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Exxon Mobil: New plastics technology may dramatically reduce emissions
The new system, which is still in the developmental stages, use more nanotechnology to separate molecules and less energy-intensive heating processes. Exxon said the technology is 50 times more energy efficient and could reduce carbon...
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