oil and gas

Can Exxon Mobil and Chevron Earnings Escape the Oil Trap?

At the end of the third quarter, West Texas Intermediate crude oil traded at around $73 a barrel, a year-to-date increase of about 25%. The two U.S. supermajor integrated oil ...
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US Oil Rig Count Increases by 4, Prices Give Back Some of Their Daily Gain

In the week ending October 19, 2018, the number of land rigs drilling for oil in the United States totaled 873, an increase of four compared to the previous week ...
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Schlumberger’s Q3 Earnings Cleared a Low Bar

Schlumberger Ltd. (NYSE: SLB) reported third-quarter 2018 results before markets opened on Friday. The oil field services firm reported adjusted diluted earnings per share (EPS) of $0.46 on revenues of ...
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Record US Oil Exports Could Go Higher: 3 Dividend Energy Stocks to Buy Now

This year, exports from the United States of oil hit an incredible 2.2 million barrels per day. That is a remarkable number when you consider that a 40-year ban in ...
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Natural Gas Price Holds Loss Level Steady After Storage Report

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stockpiles increased by 81 billion cubic feet for the week ending October 12. Analysts were expecting a ...
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Crude Oil Price Tumbles Below $70 on Surge in Inventories

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories increased by 6.5 million barrels last week, maintaining a total ...
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US Oil Rig Count Jumps by 8, Largest Increase Since Early August

In the week ending October 12, 2018, the number of land rigs drilling for oil in the United States totaled 869, an increase of eight compared to the previous week ...
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Oil Supply and Demand Reach Record 100 Million Barrels a Day

The world's supply and demand of crude have reached record levels, accord to the International Energy Agency (IEA). The figures have hit 100 million barrels a day. A new IEA ...
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6 Most Important Things in Business Today

Facebook Inc. (NASDAQ: FB) shut off a number of accounts. According to The Wall Street Journal: Facebook Inc. has taken down hundreds of U.S. pages and accounts that were spreading ...
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Crude Oil Price Rebounds Slightly on Another Big Increase in Stockpiles

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories increased by 6 million barrels last week, maintaining a total ...
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Natural Gas Price Steady Following Expected Storage Increase

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stockpiles increased by 90 billion cubic feet for the week ending October 5. Analysts were expecting a ...
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Saudi Arabia, Russia Boost Oil Supply by 250,000 Barrels in September

In its Monthly Oil Market Report for October, released Thursday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket soared ...
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US Gasoline 2019 Price Forecast Rises Again

The U.S. Energy Information Administration (EIA) on Wednesday released its Short-Term Energy Outlook (STEO) for October. EIA is forecasting that the average price for a barrel of Brent crude oil ...
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Mexico Adds 180 Million Barrels to Reserves With New Discovery

Mexico's state-owned oil company, Pemex, announced Wednesday that it has discovered seven new reservoirs at two wells in shallow water in the southeast basin of the Gulf of Mexico offshore ...
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Short Sellers Up the Ante in Major Oil Stocks

Crude oil was trading right around $74 a barrel early on Wednesday. Over the past month, crude has been up and down, reaching as high as about $77 and as ...
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