Oil & Gas

In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.

U.S. crude oil stockpiles fell less than expected last week according to a largely bearish report on Wednesday from the Energy Information Administration, which also showed that gasoline and distillate inventories rose more than expected.

U.S. energy firms this week reduced the number of oil rigs operating for the third time in four weeks even as crude production forecasts increase despite some drillers cutting spending.

U.S. Crude Oil Inventories Jump, OPEC Supply May Be on the Rise

The United States last week exported more crude oil and fuel than it imported for the first time on record, according to data released on Thursday, the same day OPEC ended a meeting without a decision to curb global output to balance out the historic surge in U.S. supply.

https://www.reuters.com/article/us-usa-rigs-baker-hughes/u-s-drillers-add-oil-rigs-for-fourth-week-in-five-baker-hughes-idUSKCN1NE28S  

U.S. Crude Inventories Unexpectedly Rose by 5.4M Barrels

U.S. Crude Oil Inventories Fell by 1.21M Barrels Last Week: EIA

U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts.

U.S. Crude Oil Inventories Rise by 1.26M Barrels Last Week: EIA