crude oil

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
Government, Fuel

Oil Set for Longest Gain in 17 Months on US Economy, OPEC Cuts

Oil Rig Brittany Sowacke/Bloomberg News

Oil headed for its longest stretch of daily gains in more than 17 months as the U.S. Federal Reserve sought to ease investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect.

Grant Smith | Bloomberg News
January 7, 2019
Business, Fuel

Oil Begins 2019 With Renewed Slide Amid Fears Over China Growth

Oil Production Daniel Acker/Bloomberg News

Oil started 2019 with another price slide as weaker Chinese manufacturing data pointed to slowing demand in the world’s second-biggest consumer of the fuel and to growing risks of a global crude surplus.

Grant Smith | Bloomberg News
January 2, 2019
Business, Fuel

Texas Job Growth to Take Hit if Oil Rout Drags On, Fed Says

Texas Precision Drilling oil rig operators install a bit guide on the floor of a Royal Dutch Shell Plc oil rig near Mentone, Texas. (Matthew Busch/Bloomberg News)

Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Dallas.

Rachel Adams-Heard | Bloomberg News
December 28, 2018
Government, Business, Fuel

Oil Gains Near $52 as OPEC Cuts Weighed Against US Supply Rise

Oil Production Luke Sharrett/Bloomberg News

Oil was boosted to near $52 a barrel by a weak U.S. dollar while investors weighed if OPEC and its allies can successfully re-balance the market.

December 17, 2018
Government, Business, Fuel

Oil Extends Gain as US Stockpiles Drop and Trade Tensions Ease

Oil Brittany Sowacke/Bloomberg News

Oil extended an advance after a U.S. industry report signaled a bigger-than-expected draw in nationwide crude inventories and as trade tensions eased between the world’s largest economies.

Grant Smith | Bloomberg News
December 12, 2018
Government, Business, Fuel

US Holds Steady on Outlook for Domestic Oil Production Rising Despite Lower Prices

Oil drilling Luke Sharrett/Bloomberg News

The U.S. government left its forecast for domestic crude production unchanged for 2019 even with prices averaging almost $11 a barrel lower than its previous estimate.

Stephen Cunningham | Bloomberg News
December 11, 2018
Government, Business, Fuel

Louisiana Offshore Port Ships Most Oil Ever on Supertankers

Oil Rig An oil rig off the coast of Louisiana. (Luke Sharrett/Bloomberg News)

The Louisiana Offshore Oil Port is pushing out the most crude it’s shipped in any one month since the terminal began supertanker exports in February.

Sheela Tobben | Bloomberg News
December 10, 2018
Government, Business, Fuel

US Becomes Net Oil Exporter for First Time in 75 Years

Texas Oil Field Matthew Busch/Bloomberg News

America turned into a net oil exporter the week of Nov. 26, breaking 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what President Donald Trump has branded as “energy independence.”

Javier Blas | Bloomberg News
December 6, 2018