Oil
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(The Center Square) – Domestic oil production in the U.S. reached a new record in November of 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information Administration. The previous record was 13.25 million barrels per day. That was set in September 2023. Production of crude oil in the U.S. […]
(Bloomberg) — Oil fell after US crude inventories increased the most since November, swelling even more than an industry-funded report had indicated they would. Most Read from Bloomberg West Texas Intermediate slipped below $78 a barrel after earlier rising as much as 1.2%. US crude stockpiles increased 12 million barrels last week, bringing inventories to […]
SHREVEPORT, La. (KTAL/KMSS) – His name was Odessa St. Strickland, and in the early 1900s he invented a device that traced and defined the boundaries of oil and gas deposits. In 1940 alone, 139/140 of the locations discovered by Strictland’s invention produced oil and gas. But Strickland’s big claim to fame came about because of […]
Oil field workers on a rig in Tioga, North Dakota. Ken Cedeno | Corbis | Getty Images Oil prices edged lower Wednesday as U.S. gasoline stocks rose significantly, suggesting demand might be faltering in the world’s largest economy. The West Texas Intermediate futures contract for March fell 18 cents, or .24%, to $74.19 a barrel […]
Europe is at the center of the diversions because its tanker supplies are at high risk of attack. “The decision for these diversions is by the owners of the oil, which is European,” said Viktor Katona, lead crude analyst at Kpler. “European countries are seen as complicit in the Israel-Hamas war. They would rather go […]
Surging U.S. oil production could set new records this year after ending 2023 at a historic level, pressuring OPEC and cushioning the market — at least so far — from price spikes that may emerge from tensions in the Middle East. U.S. production has undergone a dramatic turnaround after hitting a 62-year low in 2008, […]
Iran’s Navy said it had seized a vessel loaded with crude oil off the coast of Oman on Thursday after an armed group wearing military-style uniforms and black masks boarded the ship. The vessel, previously named the Suez Rajan, was involved last year in the U.S. government seizure of Iranian oil that was being transported […]
New York CNN — The American oil industry is on high alert for an escalation of the violence in the Middle East that disrupts the flow of oil out of the region. Mike Sommers, CEO of the American Petroleum Institute, worries there is a growing chance the crisis will intensify and derail oil supplies.
US shale magnate Harold Hamm is leading attempts to lure an increasingly sceptical younger generation to the oil and gas industry as climate concerns and job insecurity dent the attractiveness of the industry for graduates and skilled tradespeople. “We are going to be using oil for the next 50 years and ‘clean burning’ natural gas […]
Comment on this storyCommentAdd to your saved storiesSave You won’t hear President Biden talking about it much, but a key record has been broken during his watch: The United States is producing more oil than any country ever has. The flow of huge amounts of crude from American producers is playing a . . .