crude oil

Government, Business, Fuel

Oil Dips as China Slowdown Signals Demand Drop

Oil Rig Callaghan O'Hare/Bloomberg News

Crude skidded to its worst loss in a month as disappointing corporate profit forecasts stoked concern about the economy, bruising a market already anxious about booming American oil supplies.

Alex Nussbaum | Bloomberg News
January 28, 2019
Government, Business, Fuel, Logistics

US Crude Production to Beat EIA’s Outlook by 23 Years

Crude Oil Angus Mordant/Bloomberg News

A year ago, the U.S. government envisioned American crude production averaging 11.95 million barrels a day in 2042. Shale drillers are set to exceed that this year.

January 25, 2019
Business, Fuel, Logistics

Railcar Loads for Canadian Oil Hit Record Amid Pipeline Bottleneck

Railroad tracks James MacDonald/Bloomberg News

Heavy Canadian crude isn’t getting cheaper, but that hasn’t stopped companies from splurging on costly rail shipments.

Robert Tuttle | Bloomberg News
January 24, 2019
Government, Business, Fuel

US Sanctions on Venezuelan Oil Could Benefit China, India

Oil Rig Bloomberg News

If the United States decides to deploy a slate of sanctions that it is said to have drafted against the Latin American nation, American refiners would be forced to cease purchases. That may mean more supply becomes available for the OPEC producer’s other big customers: China and India.

January 24, 2019
Government, Business, Fuel

US Could Soon Pump More Crude Than Saudis Can at Their Peak

Oil derricks in the Permian Basin Jim Hickcox/ Flickr

Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By midyear America will go one better.

Grant Smith | Bloomberg News
January 18, 2019
Business, Fuel

Oil Slips as Record US Production Undermines OPEC Supply Cut

Oil Production Ali Mohammadi/Bloomberg News

Oil retreated below $52 a barrel as data showing record U.S. crude production suggested markets may remain oversupplied despite output cuts by OPEC and its allies.

Heesu Lee and Grant Smith | Bloomberg News
January 17, 2019
Government, Business, Fuel

Oil Gains as US Stockpiles Seen Falling, China Plans Tax Cuts

Oil Field Angus Mordant/Bloomberg News

Oil rose amid estimates of another decline in U.S. crude inventories and signs that China is stepping up efforts to combat an economic slowdown.

Grant Smith and Simon Casey | Bloomberg News
January 15, 2019
Government, Business, Fuel

Petroleum Industry Meeting World Demand While Polluting Less, Institute Reports

The Royal Dutch Shell Plc Norco Refinery at night in Norco, La. Luke Sharrett/Bloomberg News

The U.S. petroleum industry is meeting record world demand while decreasing the amount of carbon emissions released into the skies, but challenges lie ahead if it hopes to maintain that momentum, according to the American Petroleum Institute’s annual report, “State of American Energy 2019.”

Jim Stinson | Staff Reporter
January 14, 2019
Business, Fuel

US Eagle Ford Growth Seen Stalling in 2019 on Lower Prices

Oil Rig Eddie Seal/Bloomberg News

Drillers in the Eagle Ford, a Texas shale oil patch, likely will scale back activity in 2019 as lower crude prices eat into cash flows, according to consulting firm Rystad Energy AS.

Sheela Tobben | Bloomberg News
January 8, 2019
Government, Fuel

Oil Extends Longest Rally in 17 Months as Supplies Seen Tighter

Oil Rig Taylor Weidman/Bloomberg News

Oil extended its longest run of daily gains in 17 months on renewed efforts by the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts.

Grant Smith | Bloomberg News
January 8, 2019