Archives for August 2019
Oil plunges below $52 on inventories hike, global demand woes
The U.S. benchmark for oil prices plunged below $52 a barrel on Wednesday amid news of rising crude stockpiles and growing concerns about global demand woes and an economic slowdown. Source: FuelFix
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Permian fracking activity sets new records with fewer people
More Permian Basin wells are being hydraulically fractured and completed than ever before, and the work is being done with far fewer workers than just a year ago, according to new studies. Source: FuelFix
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Report: Supply glut could force some petrochemical projects to close by mid-2020s
A glut of new supply and the threat of a global economic downturn could put several ethylene plants at risk of closing in the next decade, an updated analysis from the energy research firm Wood...
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Occidental sells $13 billion of debt to fund Anadarko purchase
Occidental Petroleum Corp. sold $13 billion of debt to help finance its acquisition of Anadarko Petroleum Corp. after receiving over $75 billion in orders for the deal at the peak, according to people familiar with...
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Brent crude steadies after entering bear market on trade war
Brent crude steadied after falling into a bear market as concern the U.S.-China trade war will continue to sap demand outweighed an industry report showing American crude stockpiles are still shrinking. Source: FuelFix
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