Archives for 2016
Oil rig count stalls after 8 weeks of growth
The number of rigs actively drilling for oil stayed flat from last week, while the amount of natural gas-seeking rigs slipped by two, according to weekly data compiled by the Baker Hughes oilfield services firm....
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OPEC export revenue tumbled to 2004 levels, EIA reports
Last year, it turns out, wasn’t a very good year for OPEC’s mighty oil drillers either. Members of the Organization of the Petroleum Exporting Countries earned $404 billion in net oil export revenue in 2015,...
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Oil above $48 on OPEC freeze hopes
Oil traded above $48 a barrel as Saudi Arabia’s energy minister said an output freeze would be positive for the market and after a report that Iran will attend an informal meeting next month. Futures...
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Market Currents: Further signs of life in the oil patch
As financial markets are distracted once more by Federal Reserve Chair Janet Yellen, crude is not immune to this influence, making moves in response to the U.S. dollar’s gyrations (crude up, dollar down). We’ll choose...
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As oil stablizes, merger deals are back
Multibillion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie said. That’s the...
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