Halliburton CEO expects shale to reverse oil price slump
Halliburton CEO Dave Lesar is joining the chorus of oil executives who say they aren’t worried about falling oil prices, and expect them to climb next year. More »
Moody’s: Refineries face flat demand, new competition
Shale oil will continue to give U.S. refineries a cost advantage over their European peers, but a few big refinery expansions in Saudi Arabia could steal market share. More »
Shell says lower oil prices could affect pace in Permian
European oil giant Royal Dutch Shell saw its profits slide 4.6 percent in the third quarter as it began to feel the dip in crude oil prices. More »
WTI oil climbs as U.S. motor-fuel supplies seen lower
December futures increased as much as 0.5 percent in New York, adding to a 0.7 percent rise yesterday. More »
Oil demand growth this year seen weakest since 2009
Oil demand will expand at the slowest pace since 2009 this year as global economic growth weakens. More »
Speculators push oil into bear market as supply rises
Money managers reduced bets on rising oil prices by the most in five weeks, helping push U.S.- traded futures into a bear market. More »
Shale boom tested as plummeting prices threaten U.S. drillers
More supply from hydraulic fracturing and horizontal drilling, and less demand, are contributing to the tumble in West Texas Intermediate crude. More »
In Case of Emergency
Last month, the Department of Energy announced its plans to build a gasoline storage reserve in the Northeast. Widespread shortages caused by massive super storm Sandy sparked plans to mitigate future risks in affected Northeastern states. The gasoline reserve will hold nearly one million gallons of gasoline, providing power to first responders and generators. The […] More »
Oil production to grow at fastest rate ever
With rising crude production, gasoline prices are expected to drop from $3.63 per gallon of regular in 2012 to $3.34 in 2014, according to the federal projections. More »
Lack of pipelines drives price gap between Brent and WTI Index
The price differences between Brent crude oil and West Texas Intermediate (WTI) crude oil market prices are the result of a shortage of U.S. pipeline capacity and will continue to increase, according to energy pricing consultants. More »
Already pricey gasoline isn’t following crude’s surge – yet
In a deviation from the usual pattern, gasoline prices have stayed relatively stable amid a surge in the price of oil that sent benchmark crude over $100 a barrel Wednesday. More »
Crude closes at $90.20, down $2.97
Crude oil dropped the most in more than three weeks after a government report showed a larger-than- projected gain in U.S. stockpiles and amid concern that European debt-crisis talks are stalling.
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