Energy Economy

US Oil Rig Count Drops by 10, Crude Price Continues Slide

In the week ended January 19, 2018, the number of land rigs drilling for oil in the United States totaled 747, down by five compared to the previous week and ...
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Crude Oil Supply to Top Demand in 2018: IEA

In its monthly Oil Market Report for January released Friday morning, the International Energy Agency (IEA) said that global crude supplies fell by 4050,000 barrels per day in December to ...
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Crude Oil Price Turns Higher on Big Inventory Draw

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning, showing that U.S. commercial crude inventories decreased by 6.9 million barrels last week, maintaining a total ...
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Natural Gas Price Tumbles on Low Storage Withdrawal

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 183 billion cubic feet for the week ending January 12. Analysts expected a storage ...
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OPEC Lifts 2018 Oil Demand Total to 98.51 Million Barrels a Day

In its Monthly Oil Market Report for January, released Thursday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket rose ...
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How Blockchain Could Change Energy Markets

As several struggling companies have proved recently, adding the word "blockchain" to the company's name lights a rocket under the stock. Recall Long Island Iced Tea and, more recently, Kodak. ...
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US February Crude Oil Production to Offset OPEC Cuts

Between February of 2017 and February of 2018, U.S. crude oil production from seven major shale regions is forecast to rise by 1.8 million barrels of oil per day to ...
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2017 Global Clean Energy Investment Tops $333 Billion

Led by new investment in solar energy projects totaling nearly $161 billion, global investment in clean energy technology rose to $333.5 billion in 2017, the second-highest total on record and ...
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Will OPEC Stick With Its Production Cuts If Oil Prices Keep Rising?

The production cuts initiated last January by Organization of the Petroleum Exporting Countries (OPEC) and its allies — particularly Russia — had drawn down oil supplies in the world's developed ...
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US Gasoline Price Popped Higher Last Week

While last week's news on retail gasoline prices was mixed, this week's is solidly negative. A gallon of regular gasoline cost $2.53 Monday morning, up four cents for the week, ...
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US Oil Rig Count Soars by 10, Crude Price Appears Unfazed

In the week ended January 12, 2018, the number of land rigs drilling for oil in the United States totaled 752, up by 10 compared to the previous week and ...
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After 3 Years, Brent Crude Tops $70 a Barrel Again

The benchmark crude oil used to set prices for about half the world's oil topped $70 a barrel in London on Thursday for the first time since December 2014. Brent ...
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Natural Gas Price Jumps on Record Storage Withdrawal

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 359 billion cubic feet for the week ending January 5. This is the largest ...
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Crude Oil Price Dips as Petroleum Inventories Balance

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning, showing that U.S. commercial crude inventories decreased by 4.9 million barrels last week, maintaining a total ...
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High Oil Prices, the Return of $3 Gas a Threat to the Economy

Crude oil prices are well over $63 a barrel, and some experts believe the next stop is $70. Over the past year, crude prices have been as low as $44, ...
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