Oil & Gas News:

Articles on oil and gas topics

Oil Prices Tumble, Now in Bear Market

U.S. oil prices tumbled on Tuesday to the lowest level so far this year as investors fear that a global supply glut will persist longer than had been expected. The benchmark West Texas Intermediate (WTI)…


Oxy Sells, Buys Permian Acreage

Houston-based Occidental Petroleum (Oxy) said June 19 that it sold some of its holdings in the Permian Basin and used the proceeds to add to its acreage position in another area of the Permian in…


U.S. Rig Count Sees Record 21st Consecutive Weekly Gain

The U.S. drilling rig count increased for the record 21st consecutive week, oilfield services firm Baker Hughes reported on Friday June 9. Overall, the U.S. rig count rose by 11 to 927, a total that…


First Tanker with U.S. Natural Gas Reaches Poland

The first ever tanker with liquefied natural gas from the United States arrived Thursday in Poland as part of the country’s efforts to diversify its energy sources and cut dependence on deliveries from Russia. It…


Trump Budget Would Cut Agency Key to Shale Boom

An agency instrumental to America’s surge in energy production would lose half its funding in President Donald Trump’s proposed federal budget. The Energy Department’s Office of Fossil Energy, whose research helped push the U.S. closer…


As OPEC Cuts, U.S. Oil Exports Surge

The week OPEC agreed to extend oil-production cuts for another nine months, U.S. crude exports hit a new record. The amount of oil U.S. exporters sent abroad climbed to 1.3 million barrels a day late…