President Donald Trump said that the U.S. will “get our energy business back,” as he met with oil executives from at least seven companies amid…
Tag: Oilfield Crash
Mainstream media is just catching on to the harsh reality of oil
With world running out of storage, crude oil prices in tailspin Global oil prices continue to be in a tailspin amid nationwide lockdowns to stop…
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…
Oops – US suspends plans to buy oil after funding is left out of $2 trillion stimulus package
The U.S. Department of Energy is suspending its plans to buy crude for the country’s Strategic Petroleum Reserve after the requested $3 billion in funding…
The U.S Oil industry will see thousands of jobs lost
One of the most painful busts in the history of crude oil happened just six years ago when a sharp price drop cost 200,000 roughnecks,…
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,…
OILFIELD LAYOFFS ARE SKYROCKETING IN TEXAS & NORTH DAKOTA
Many companies are proceeding with temporary layoffs due both to crashing oil prices and the spread of the novel coronavirus that causes COVID-19. (Bloomberg) —…
MASS LAYOFFS IN NORTH DAKOTA – TEXAS
John Kilduff, Again Capital founding partner, calls ‘Power Lunch’ to discuss oil plunging into the close and what’s behind the move. John Kilduff, CNBC contributor…
Massive Crash in American Oil is Approaching
Even after a 60% plunge so far this year to the lowest since 2003, prices will likely drop further to $20 a barrel or below,…
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…
Is it time to look for a Job outside the Oil Industry?
These are very unique times we live in, with the Crude oil Crash and the Corona Virus scare wreaking havoc all around the U.S. Many…