crude oil prices
crude oil prices Articles
The International Energy Agency (IEA) fears that decreased investment in exploration for new sources of crude threaten to drive prices much higher unless new projects are approved and begun soon.
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The U.S. onshore rig count increased by two last week as the nation's producers added seven oil rigs and lost five natural gas rigs. Crude prices dropped by less than 2% last week.
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OPEC compliance with production cuts rose to 94% in February. That and a lower-than-expected addition to U.S. inventories boosted crude prices modestly Wednesday morning.
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The February 15 short interest data have been compared with the previous figures, and short interest moves for the selected oil stocks were mixed.
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The U.S. oil rig count rose by five last week and crude prices rose by about 1% week over week. Hedge funds now hold long contracts on nearly half a billion barrels, a record level.
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US crude oil inventories increased by 600,000 barrels last week, while gasoline stockpiles fell by 2.6 million barrels. Crude prices rose slightly on the report.
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Exxon Mobil reported total proved reserves of 20 billion barrels, down by nearly 20% year over year.
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U.S. crude oil prices dropped below $53 barrel following a jump of more than 9 million barrels in the country's inventory, the highest total since records began being kept in 1982.
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The US Energy Information Administration reported Monday that crude oil production in seven major onshore oil plays is set to rise by 80,000 barrels a day in March. Crude prices dropped nearly 2%.
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Rigs drilling for oil in the U.S. totaled 591 last week, up by eight week over week and up 152 year over year. Including natural gas rigs, the United States has 741 working rigs, up by 12 week over...
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International Energy Agency report indicates 90% compliance with OPEC production cut. Oil traders are buying barrels on the news.
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The January 31 short interest data have been compared with the previous figures, and short interest moves for most of the selected oil stocks were downward.
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US crude oil inventories grew by a massive 13.8 million barrels last week on lower refinery runs. Gasoline inventories fell, but lower refinery usage was likely the cause of this as well.
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WTI crude oil dropped below $52 a barrel Tuesday ahead of tomorrow's inventory report from the U.S. Energy Information Administration.
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Break-even production costs in North American oil fields have dropped to an average of around $52 a barrels.
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