News
Oil surges as Saudis eye deeper cuts, non-OPEC joins deal
Oil jumped to the highest since July 2015 after Saudi Arabia signaled it’s ready to cut output more than earlier agreed and non-OPEC countries including Russia pledged to pump less next year. Futures rose as...
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Texas leads biggest rig count jump since April 2014
The oil rebound in West Texas this week led the biggest surge in the drilling rig count since April 2014 — when oil was priced well above $100 a barrel. The amount of drilling activity...
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Market Currents: Saudi making tough choices
Oil prices remain bid up into the weekend, as the market adopts the first part of the motto ‘buy the rumor, sell the fact’ ahead of tomorrow’s OPEC / NOPEC meeting. Ahead of the weekend’s...
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Swift Energy sells remaining Central Louisiana interests
Houston-based Swift Energy Co. will use the $8 million in net proceeds from selling its remaining interests in two Louisiana fields to loosen up credit for its South Texas plans. The company this week announced...
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Phillips 66 cuts capital spending by 25 percent
Houston-based Phillips 66 will cut its capital spending by 25 percent next year, taking a conservative approach as the energy sector pulls out of the two-year oil bust. Phillips 66 will spend $2.7 billion in...
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