Oil prices up to date rose on Monday, extending pre-weekend gains, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide as economies recover from coronavirus pandemic-induced slumps. Brent crude futures settled 0.54% higher at $85.99 per barrel, following on from last Friday’s 1.1% gain. The contract was near […]
West Virginia increased natural gas and oil production 14% and 10%, respectively. This is from 2019-2020, according to a new report from The Gas and Oil Association of West Virginia. Producers operating in the state have contributed $3 billion in state severance and property tax revenue. This is from a 2008 report. “The natural gas […]
The average cost of a gallon of gas continues to increase as crude oil US price remain high. Triple-A Reports that the statewide average cost of a gallon of gas went up eight cents over the last seven days to $3.52 a gallon. That is also a 19 cent increase from last month at this […]
Wild spikes in the prompt time spread for oil product futures in the United States. This suggested that crude oil supply is set to tighten further, adding upward pressure to prices, Bloomberg has reported. Basically, high price of oil is expected to continue moving. According to the report, the time spread, which is the price […]
OPEC and a Russia-led group of oil producers agreed to continue increasing production in measured steps, delegates said Monday, deciding against opening the taps more widely and driving U.S. crude prices to their highest levels since 2014. Crude oil price history is indeed at an all-time high. Short insights: We all know where do crude […]
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as oil prices soared to their highest since 2014 prompting some drillers to return to the wellpad. The combined oil and gas rig count, an early indicator of future output, rose five to 533 in the week […]
What’s happening with the oil demand and supply? Oil prices jumped on Monday to the highest levels in years, fueled by rebounding global demand that has contributed to power and gas shortages in key economies like China. Brent crude rose $1.26, or 1.5%, to settle at $83.65 a barrel. The session high was $84.60, its […]
U.S. shale producers have behaved in an exemplary way in the past year. It wasn’t something the industry wanted to do. It was something it was forced to do by the pandemic and by its shareholders, who after years of waiting for windfalls put their foot down and demanded higher returns. But it just might […]
Are you a mineral rights owner? For sure, few moments are more exciting than the day that you sign a new oil and gas lease agreement. With the right operator, your mineral rights can earn long-term oil-gas royalties. This is from a successful exploration, drilling, and sales operation. So what happens when things don’t go […]
Big oil could help tackle the water shortage in the western United States. Oil pipelines repurposing existing infrastructure to help transport clean water to the areas most in need. Innovations such as this highlight how oil and gas majors are relevant. This includes their infrastructure and knowledge. It will always be relevant even in a […]
