Brent crude rose $1.80, or 1.6%, to $115.93 a barrel. More about oil prices climb data? Continue on. The U.S. West Texas Intermediate (WTI) crude contract for July, which expires later on Tuesday, rose $2.26, or 2.1%, to $111.82. The more active WTI contract for August was up $2.37 at $110.36. UBS analyst Giovanni Staunovo said that […]
Oil and gas production in Texas rose month on month. This is according to the latest preliminary figures from the Texas Railroad Commission (RRC). The preliminary reported total volume of crude oil in Texas in March was 110.9 million barrels. This is equating to 3.57 million barrels per day, the RRC highlighted. The preliminary reported […]
US President Joe Biden says he is prepared to “use all tools at his disposal”. The goal is to get American oil industry producers to do more. The main aim is to lower the cost of oil. President Joe Biden urged the companies to take “immediate actions to increase the supply of gasoline, diesel, and […]
Oil Associates President Andy Lipow argued that inflation has not yet peaked. The higher oil prices are following the European Union’s decision to ban the overwhelming majority of Russian imports. Lipow made the arguments on “Mornings with Maria” on Tuesday morning as oil prices traded higher with Brent crude futures for July rising about 1.6% […]
Energy companies continued to invest in the Permian Basin of southeast New Mexico and West Texas, an area believed to be among the most lucrative oil and gas regions in the world, as fuel demand surged, and fossil fuel producers sought to increase production. Orion Diversified Holding was the latest to purchase property in the region as […]
Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,774 jobs to 628,793 in May, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council, and after adjustments to April numbers. April adjusted number of 624,019 is up from the preliminary […]
President and CEO of the American Petroleum Institute Mike Sommers praised the U.S. oil and gas industry as the world’s “most important” environmental movement, Friday, arguing on “Mornings with Maria” that the country needs an administration that can “continue to support” the energy industry. MIKE SOMMERS: Well, let me say something that might be controversial to some. I […]
The Eagle Ford Shale stretches from the border counties of Maverick and Webb northeast to Leon and Walker counties. It is named after the town outside of Dallas. “Energy is the cornerstone of security and prosperity, and the Eagle Ford Shale in South Texas has and will continue to play a vital role in providing […]
Texas’ upstream natural gas and oil industry added 5,200 direct jobs from March to April. This is bringing the state’s latest direct upstream headcount to 190,400, the Texas Independent Producers and Royalty Owners Association (TIPRO) said Friday. “Texas operators are responding to the call to increase production, despite facing numerous challenges, including inflationary pressures, workforce […]
Oil extended four weeks of gains amid oil tight fuel supply and a weaker dollar. Elevated prices are fanning concerns that the world economy may be heading for a recession. As a result, these concerns will surely affect economies response to the crisis. West Texas Intermediate futures topped $111 a barrel. Gasoline and diesel prices […]
