Energy Economy

OPEC

Oil Rises Even as OPEC Oil Production Cuts Already Questioned

The price of oil has responded to news of OPEC, the Organization of the Petroleum Exporting Countries, production cuts. If there is one thing that seems true more often than not, ...
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ThinkstockPhotos-488849483

Natural Gas Price Cuts Loss After Storage Report

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 49 billion cubic feet for the week ending September 23. Analysts were expecting a ...
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Oil Barrels

Dip in Crude Oil Inventory Offset by Rise in Gasoline Stockpiles

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 1.9 million barrels last week, maintaining a total U.S. commercial ...
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crude oil terminal

Is West African Displacing Bakken Crude at Eastern US Refineries?

Back in the old days before horizontal drilling and hydraulic fracturing created a new source of crude oil production in North Dakota and Montana, refineries on the east coast of ...
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fracking

Why Crude Prices Could Stay Low Regardless of Rig Counts

In the week ended September 23, the number of rigs drilling for oil in the United States totaled 418, up by two compared with the prior week and down from a ...
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Blue Flame

Natural Gas Price Dips on Inventory Build

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 52 billion cubic feet for the week ending September 16. Analysts were expecting a ...
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Oil Barrels

Crude Price Soars on Huge Inventory Draw

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 6.2 million barrels last week, maintaining a total U.S. commercial ...
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country highway

States Where People Drive the Most

U.S. drivers traveled more miles last year than ever before -- 3.1 trillion miles. The average number of miles driven by a single driver is 13,476, a total nearly equal ...
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Gas Pump Nozzle

Drivers Waste $2.1 Billion a Year on Premium Gas

Premium gasoline is supposed to be for high-performance cars. It turns out that many people have mistaken when they need it rather than regular. According to AAA, Americans waste $2.1 ...
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Gas Pump

Broken Pipe May Drive Gas to $3

A recently discovered leak in a crucial pipeline that carries gasoline to the east coast has resulted in the closure of that pipeline. That leaves many residents of the eastern ...
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Pumpjack

High-Yield Bond Defaults Trending Higher in September

The trailing 12-month default rate on U.S. high-yield bonds slipped from 5.1% at the end of July to 4.9% in August, following defaults on just $1.7 billion in high-yield debt. ...
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Oil Barrels

Crude Price Cuts Losses on Small Inventory Drawdown

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 600,000 barrels last week, maintaining a total U.S. commercial crude ...
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Oil pumps

IEA Chops Oil Demand Forecast

The International Energy Agency chopped its forecast for oil demand in its September report: Global oil demand growth is slowing at a faster pace than initially predicted, the newly released IEA ...
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oil field sunset

Is Onshore Drilling for Oil & Gas Set for a Big Comeback?

According to last week's rig count summary from Baker Hughes, there were 502 rigs drilling for oil and gas in the United States last week, down 40% from the 848 ...
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Gas Pump Nozzle

Midwestern Gas Prices Fell Most Last Week

The national average price for a gallon of regular gasoline fell 2.4 cents in the past week to $2.179. The median price dropped five cents a gallon to $2.119, and the ...
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