HOBBS, N.M. (Reuters) – New Mexico oil man Johnny Vega laid out his predicament as his crew hoisted pipes from a well during the biggest oil boom in U.S. history. FILE PHOTO: Oil field worker, Miguel Holguin, operates a swabbing rig in a field in Seminole, TX, U.S. September 19, Continue Reading
Oil
Oil soars after Saudi facility attacks, weak China data hits shares
SYDNEY (Reuters) – Oil surged to four-month highs on Monday after weekend attacks on crude facilities in Saudi Arabia sparked supply fears, while shares in Asia extended losses as bleak economic data from China sapped investors’ risk appetite. FILE PHOTO – Passersby are reflected on a stock quotation board outside Continue Reading
Oil gains a fifth day after U.S. stockpile drop amid rate optimism
TOKYO (Reuters) – Oil prices rose for a fifth day on Wednesday, buoyed by a bigger-than-expected drop in U.S. inventories and as investors awaited a widely expected cut in interest rates by the Federal Reserve, the first in more than 10 years. FILE PHOTO: A wastewater injection well owned by Continue Reading
Oil prices edge higher on Chinese economic data
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. A horizontal drilling rig on a lease owned by Parsley Energy operates at sunrise in the Continue Reading
Oil hits six-week high on Gulf of Mexico storm, Iran tensions
LONDON (Reuters) – Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region. FILE PHOTO: An oil pump is seen at sunset Continue Reading
Oil prices dip on signs of slowing U.S. demand, economic concerns
LONDON (Reuters) – Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Picture taken Continue Reading
Oil prices climb as OPEC extends cuts, but demand worries persist
SINGAPORE (Reuters) – Oil gained on Tuesday as producer club OPEC agreed to extend supply cuts until next March, although prices were pressured by worries demand could ease amid hints of a slowdown in the global economy. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil Continue Reading
Airbus Helicopters sees 18-month wait for oil & gas demand pick-up
Visitors look at an Airbus Helicopter H145 on static display during the 53rd International Paris Air Show at Le Bourget Airport near Paris, France, June 18, 2019. REUTERS/Pascal Rossignol PARIS (Reuters) – Airbus expects it will be another 18 months before it sees the first signs of a recovery in Continue Reading
Asian renewable investment to overtake upstream oil and gas spending in 2020: Rystad
An animal farm covered with silicon solar panels is seen in Hohhot, Inner Mongolia autonomous region, China September 2, 2017. REUTERS/Muyu Xu SINGAPORE (Reuters) – Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday. Total capital Continue Reading
Brent oil moves toward $73 on Middle East tensions
LONDON (Reuters) – Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories. FILE PHOTO: Pump jacks operate at sunset in an oilfield in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Continue Reading