Oil & Gas

U.S. energy firms cut 21 oil rigs this week, the biggest decline since February 2016, even as the United States is expected to reinforce its leadership as the world's number one crude producer this year.

U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecast, the Energy Information Administration said on Wednesday.

U.S. energy firms cut oil rigs for a second week in a row as more producers, like Occidental Petroleum Corp, turned conservative in their 2019 drilling plans due to uncertainty over a recovery in crude prices.

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.

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

Source: www.xinhuanet.com This Thursday's weekly U.S. crude inventories report by the American Petroleum Institute announced a draw of 4.50 million barrels in U.S. crude oil...

Source: www.usatoday.com Mining features among sectors where blue collar jobs made a comeback this year in the U.S., along with manufacturing and construction. While increased...

U.S. oil prices on Thursday extended their sharp climb from the session before amid rising stock markets, but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains.

U.S. Crude Oil Inventories Fell by 0.5M Barrels Last Week: EIA

The US Department of the Interior has announced the discovery of the largest continuous oil and gas field ever found, estimated to contain 46.3 billion barrels of oil, 281 trillion ft³ of natural gas, and 20 billion barrels of natural gas liquids.