Oil & Gas

Oil Rally Halts After Another Big Build in U.S. Crude Stockpiles

U.S. crude oil inventories rose last week to the highest since November 2017 as refiners cut runs to the lowest since October 2017, the Energy Information Administration said on Wednesday.

U.S. oil drillers this week cut the most rigs in over three months and reduced the number of oil rigs operating for a second week in a row and for the fifth straight month, as independent producers follow through on plans to cut spending on new drilling and completions.

https://www.mrt.com/news/politics/article/Trump-admin-approves-seismic-surveys-for-Atlantic-13434487.php The Trump administration on Friday authorized the use of seismic air guns to find oil and gas formations deep underneath the Atlantic Ocean floor....

Oil prices fell significantly on Tuesday, but paused their slide after the API reported a small draw in crude stocks and distillates

Statements by Saudi energy minister came despite pressure by US President Trump

85 percent of US energy executives are optimistic about the industry's growth prospects in 2019.

U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks after oil futures soared nearly 40 percent this year.

The API reported a small decrease in both gasoline and distillates inventories for the week ending Friday February 15th

U.S. crude inventories climbed last week by 9.9 million barrels as imports grew to their highest since January and refining rates dropped.