Tag Archives: oil prices

Drill, Baby, Drill — U.S. Oil Industry Expected to Boost Spending

The oil industry is expected to boost spending for the first time in three years after slashing almost half a million jobs globally during the downturn, according to industry consultant Graves & Co. More than three quarters of the 440,131 oil jobs eliminated around the world through the end of 2016 came from the oilfield […]

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2017: ‘The Permian’s year’ Oil workers anticipate continued recovery in standout region

    Around February, when oil prices bottomed at about $26 a barrel, Silverado Contracting on Highway 385 found themselves with less than half the 20 workers who turned dirt during the boom. Kevin Shifflet, the yard manager for the company on Highway 385, said they struggled to find 40 hours worth of work in […]

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Why Reality Dictates A Price War

William Edwards posted 1-4-16 I would like to welcome you to the real world of the commercial oil business. Be careful, though, before you accept my invitation as it might result in a change in your thinking. First, let us recognize that there are two oil worlds: the political one and the physical one. Both […]

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Oil Prices Drop as Inventories in U.S. Rise to Highest in 14 Years

  Oil prices fell towards $57 a barrel on Wednesday after the largest weekly build in U.S. crude inventories since 2001 and as Saudi Arabia reported record output in March. The U.S. Energy Information Administration (EIA) reported that U.S. stocks of crude oil rose in the week to April 3 by 10.9 million barrels – […]

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