Energy Economy

Oil Barrels

Rising Crude Oil Inventory Stifles Prices After Volatile Week

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 2.5 million barrels last week, maintaining a total U.S. commercial ...
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Pump Jacks Against at Dusk

Is the Price of Crude Headed Up or Down?

A report from Reuters Tuesday morning is pushing crude oil prices higher after a drop of about 3.5% on Monday. According to the news agency's sources, Iran is "sending positive ...
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oil tanker

Did OPEC Cause a Short Squeeze in Worldwide Oil Prices? Maybe Not

ZeroHedge, writing in Oilprice.com, says that OPEC has caused a monumental short squeeze in worldwide oil prices. The argument may be a bit off, but the results may be accurate ...
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fracking

Rig Count Rises by 10, Huge Short Covering in Crude Market

In the week ended August 19, the number of rigs drilling for oil in the United States totaled 406, up by 10 compared with the prior week but down from a ...
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ThinkstockPhotos-488849483

Natural Gas Price Ticks Up on Smaller Inventory Addition

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 22 billion cubic feet for the week ending August 12. Analysts surveyed by Reuters ...
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Two Dollars

The 12 States That Now Have Gas Under $2

As oil has seesawed, making gasoline prices hard to predict, several organizations, led by the U.S. Energy Information Administration (EIA), expect the price for a gallon of regular to average little ...
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Oil Barrels

Crude Oil, Gasoline Inventories Dip, but Traders Remain Cautious

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.5 million barrels last week, maintaining a total U.S. commercial ...
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Oil Barrels

Oil Players See Very Mixed Results After Weekly Oil and Gasoline Inventories

On Wednesday the OPEC oil market report gave its forecasts for oil demand and supply trends. Now we have the Energy Information Administration (EIA) weekly crude oil and gasoline inventories. These ...
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oil tanker

Despite Mixed OPEC Outlook, Saudi Arabia Oil Output Hits Record High

The Organization of the Petroleum Exporting Countries (OPEC) has released its monthly oil market report for August. Despite the price of oil being low, there are several key surprises in this ...
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Shell Station

Gas Expected To Drop Below $2, Again

The U.S. Energy Information Administration expects the price of gas to plunge to $1.99 a gallon in October, for regular grade. Further, the EIA expects it to remain below that ...
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oil tanks

EIA Outlook: New Forecast Shows Higher US Crude Production, Lower Pump Prices Ahead

The U.S. Energy Information Administration (EIA) on Tuesday released the latest update to its Short Term Energy Outlook (STEO). The agency lowered its average summer driving season price for a ...
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OPEC

OPEC Statement Lifts Crude Prices

While the Organization of the Petroleum Exporting Countries (OPEC) no longer wields the same power over global oil markets it had 40 years ago, it can still make some noise ...
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Oil rig

Fracking Makes Big Comeback as Drilling Rises

For the first time in a year, the number of rigs drilling for oil has risen for six straight weeks. Coincidentally, last year's increase occurred in July and August as ...
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fracking

Oil Rig Count Up by 7 Last Week, Hedge Funds Scooping Up Short Contracts

In the week ended August 5, the number of rigs drilling for oil in the United States totaled 381, up by seven compared with the prior week and a total of ...
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Oil worker

Energy Industry Job Cuts Hit 195,000

Well-regarded employment research from Challenger, Gray & Christmas says the oil industry has shed 195,415 jobs. If crude stays below $40 a barrel, the trend may continue. According to the ...
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