Oil & Gas

Oil and gas business activity in Texas and neighboring states plunged in the fourth quarter, according to the Dallas Federal Reserve.

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.

Brent Oil Recovers $70 Following Bullish U.S. Crude Inventory Data

The U.S. expects domestic oil production to reach new heights this year and next, and that prices – for both crude and gasoline – will be lower than they were in 2018.

U.S. Crude Oil Inventories Rose by 10.27M Barrels Last Week: EIA

Oil prices fell 4 percent on Tuesday as investors sold off stocks amid concerns about slowing global economic growth.

U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more.

U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output.

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

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.