Oil prices rose on Friday and were on course for a second consecutive week of gains as U.S. producers rapidly shut crude production and more…
Crude Oil Prices
Saudi Arabia raises crude oil prices
Demand worries are lingering, yet Saudi Arabia has increased crude oil prices, and U.S. oil prices fell more than 3%. Earlier in the day, after…
Oil turns lower, snapping five-day winning streak
Data from the U.S. Energy Information Administration released Wednesday showed that for the week ending May 1 inventories rose by 4.6 million barrels, which was…
Oil prices turned negative, giving back a more than 12% gain
Oil prices turned negative, giving back a more than 12% gain, as the Street awaited details on production cuts from OPEC and its allies, known…
Crude oil sells below $6 per barrel in some parts of Texas
A report states, while crude oil is selling for more than $25 per barrel on the New York Mercantile Exchange, “WTL Midland, a type of…
OPEC EMERGENCY MEETING
OPEC and its allies will likely postpone the emergency meeting to April 8 or 9, sources say. A meeting of the Organization of the Petroleum…
Russia and Saudi Arabia will cut production?
The Tweeter in Chief Donald Trump said Russia and Saudi Arabia would cut production. Stocks fluctuated in Australia and South Korea, gained in Japan, and…
Trump – Saudis and Russia will ease pressure on oil
President Donald Trump said Saudis and Russia will ease pressure on oil, ending a price war that has contributed to crude’s massive plunge. The president…
Brent Crude Falls to 17-Year Low
Crude crashed to its lowest in 17-years as virus lockdowns cascade through the world’s largest economies. The market has been roiled by cratering demand and…
THE U.S WILL HAVE NO CHOICE BUT TO SHUT IN WELLS
Oil industry braces for biggest idling of wells in 35 years. The U.S is running out of places to store it’s vast amounts of oil…
Texas Oil Regulator trying to save the Oil industry from itself
Texas’ oil regulator which oversees the nation’s top oil-producing state might immediately force producers to curtail some of their output by shutting off existing wells,…
Brent crude was up $2.10, or 8%, at $26.98 a barrel
After getting tired of losing Market share to American oil Russia and Saudia Arabie are dumping oil at prices the market hasn’t seen the lowest…
Oil drops nearly 10% breaking below $29
U.S. West Texas Intermediate crude dropped $3.03, or 9.5%, to settle at $28.70 per barrel. Earlier in the session, WTI fell to a session low…
Hess CEO John Hess said he expects rig count to be half of what it is now
The rig count is expected to be cut in half as oil prices collapse and as an all-out Crude Oil war between Saudi Arabia and…