EghtesadOnline: Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices.
EghtesadOnline: Oil explorers reduced rigs drilling in U.S. oilfields this week, fueling optimism that a shale slowdown and OPEC production cuts will be enough to deflate a glut and strengthen crude prices.
EghtesadOnline: A crude price in the $50s is the new reality for bosses of some of the world’s largest producers as output caps from OPEC and its allies are balanced out by rising U.S. shale.
EghtesadOnline: Oil bulls, take heart! U.S. drillers have dramatically reduced their hedging activity, a move that could portend a break in the production gains that have upended global crude prices.
EghtesadOnline: Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fuelling concerns that US production growth is undermining efforts to cut oversupply.
EghtesadOnline: Oil futures dipped on Monday as a higher U.S. rig count indicated rising shale output and stoked worries about global oversupply, while a stronger dollar also pressured prices.
EghtesadOnline: The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry.
EghtesadOnline: U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would indicate.
EghtesadOnline: A year after Cheniere Energy Inc.’s Louisiana terminal shipped the first exports of U.S. natural gas from shale, cargoes from the facility are fetching higher prices than ever.
EghtesadOnline: Senior Saudi energy officials told top independent US oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising production from US shale fields, two industry sources told Reuters on Thursday.