Over the weekend came news that OPEC and non-OPEC producers had taken 1.5 million barrels per day out of the market. They had earlier agreed to output cut of 1.8 mb/d in the first six months this year. OPEC first … Continued
Over the weekend, non-OPEC producers agreed to cut crude output by 558,000 barrels per day, of which Russia would reduce by 300,000 b/d. This followed OPEC’s November 30 decision to cut output by 1.2 million b/d. The deal goes into … Continued
BLS’ January oil-and-gas-extraction data gives false sense of security Challenger survey shows 20k energy job-cuts in Jan, more than in all of 2014 Boom bust normal in U.S. oil patch, but shale boom of last five years like no other … Continued
Signs late last week WTI itching to move higher play out perfectly Oil as much a physical commodity as it is for investment/speculative purposes After 20-plus-percent move in four sessions, healthy if it retreats and finds support at 47 Some … Continued
U.S. rig counts have continued to drop since September This is yet to negatively impact well-paying oil and gas jobs Although weekly hours of support activities peaked in Mar last year U.S. rig counts are on the decline. As of … Continued