On Wednesday, U.S. President Donald Trump crushed any hopes of a trade deal with China when he announced that China “broke the deal” and that, as a consequence, the U.S. will enforce even higher tariffs on some imports from China starting on Friday, May 10. Is oil resolving trade war in talks? According to some […]
Escalating Weighing on Oil Prices Crude explorers deployed fewer rigs in U.S. fields this week amid an escalating weighing on oil prices a trade war between U.S. and China. In response to mounting pressure from investors, exploration companies have taken drastic measures to demonstrate fiscal responsibility and maximize returns for shareholders. One notable action has […]
Cheapest Source Of Oil Supply U.S. shale oil was the world’s second most expensive oil resource is now the cheapest source of oil supply. Just behind the giant onshore oil fields in the Middle East, Rystad Energy said on Thursday. Rystad estimates its cost of supply curve update that the average Brent Crude breakeven price […]
Vicki Hollub won a bidding war for Anadarko Petroleum Corp. She is the chief executive of Houston oil company Occidental Petroleum. It was against oil giant Chevron Corp. And everything about the deal is why the center of gravity for the oil universe has moved to Texas. She has confidence in her company’s ability to […]
Texas oil Texas oil is the new gold rush: Men work 100 hours a week. Roads are a mess. Electricity can be in short supply. But “anyone with a pulse” can make $100,000. You won’t believe what’s happening in the Permian Basin. PECOS, Texas — Welcome to the Permian Basin, six hours west of Dallas. […]
Investment in the energy-rich shale sector in eastern Ohio continues to grow. It is reaching $74 billion since 2011, according to a report commissioned by JobsOhio. The quarterly report is by Cleveland State University’s Energy Policy Center at the Maxine Goodman Levin College of Urban Affairs. It shows that about two-thirds of that investment has […]
U.S. West Texas Intermediate and international-benchmark Brent crude oil managed to eke-out a small gain for the holiday-shortened week. With that, two-sided price action indicated cracks may be developing in the bullish narrative. Despite hitting a new five-month high earlier in the week, the crude oil markets experienced a slight downturn towards the end of […]
