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Oil May Hold The Secret To Ending The Trade War

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. According to some experts, however, the dip in crude prices […]

Rystad: U.S. Shale Is Now The World’s Second Cheapest Source Of Oil Supply

U.S. shale oil—which just four years ago was the world’s second most expensive oil resource—is now the second cheapest source of new oil supply globally, just behind the giant onshore oil fields in the Middle East, Rystad Energy said on Thursday. Rystad Energy estimates in its latest cost of supply curve update that the average Brent Crude breakeven […]

Verify: 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. Compared to the last West Texas oil boom in […]

Ohio shale investment hits $74 billion since 2011

Investment in the energy-rich shale sector in eastern Ohio continues to grow, reaching $74 billion since 2011, according to a report commissioned by JobsOhio. The quarterly report, done by Cleveland State University’s Energy Policy Center at the Maxine Goodman Levin College of Urban Affairs, shows that about two-thirds of that investment has been in drilling, […]

Top Heavy Oil Markets Continue To Rally

U.S. West Texas Intermediate and international-benchmark Brent crude oil managed to eke-out a small gain for the holiday-shortened week, but the volatile, two-sided price action indicated cracks may be developing in the bullish narrative. Despite hitting a new five-month high earlier in the week, it was Thursday’s gains which prevented the crude oil markets from […]