News
U.S. oil producers find higher prices at regional trading hubs
The U.S. benchmark for crude oil closed trading Monday at an all-time record low of negative $37.63 per barrel but producers were able to find higher prices in some regional trading hubs. Source: FuelFix
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U.S. oil and gas rig count continues steep declines
The number of operating U.S. oil and gas rigs continued to nosedive this week, plunging by 73 operating rigs, according to the Baker Hughes rig count. Source: FuelFix
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Oil stays below $19 as gloomy demand outlook persists
Oil fell below $19 a barrel in New York as a wave of gloomy demand forecasts and a cratering physical market outweighed an unprecedented deal to cut output. Source: FuelFix
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U.S. shale production projected to fall by 2 million barrels by end of year
U.S. shale production is projected to fall by 2 million barrels per day by end of year, according to a new report from the Norwegian research firm Rystad Energy. Source: FuelFix
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Crude oil storage tanks filling up as gasoline demand drops by nearly a third
Crude oil storage tanks in the United States are nearly 85 percent full as record low commodity prices and falling fuel demand due to the coronavirus pandemic continue to take their toll on the industry....
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