Archives for May 2017
Oil prices tank as OPEC deal on output cuts disappoints traders
Oil prices tanked early Thursday after OPEC reached an agreement to cap oil production for another nine months at the same level that couldn’t fix the oversupplied oil market this year. The U.S. oil benchmark...
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Energy Dept. nominee questions legality of Trump’s proposal for oil reserve
Dan Brouillette, Rick Perry’s pick to be his number two at the Department of Energy, questioned the Trump administration’s proposal to sell off oil from the Strategic Petroleum Reserve to help balance the federal budget...
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Permian drilling productivity will see first-ever decline in June, EIA says
Oil fields in West Texas are teeming with drilling rigs after crude prices shot up to $50 a barrel this year. But the Energy Department believes a key metric of drilling productivity is about to...
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Market Currents: Extension reflects OPEC’s shortcomings
As OPEC’s latest meeting concludes in Vienna, just a glimpse at the charts below helps explain why the cartel’s production cut deal has been extended for another nine months: it hasn’t worked so far. For...
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Tesoro teams with EP Energy on drilling; closing on Western Refining deal June 1
Growing San Antonio refining giant Tesoro is getting more involved in drilling for oil thanks to a new partnership with Houston’s EP Energy. On the other hand, Tesoro also is growing in its refining sweet...
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