Tag Archives: US Oil

Oil Jumps Most This Year as Buildup Slows in U.S. Storage Tanks

Crude climbed the most since December as a recent buildup in U.S. storage tanks and terminals appears to be slowing down. Futures gained 2.4 percent in New York on Wednesday after a government report showed American oil inventories rose by 1.84 million barrels last week. That was lower than all but two of 11 estimates in a […]

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The U.S. Oil Boom Is Attracting Canadian Drillers

Canadian oil and gas drillers are moving their rigs to the United States in response to greater demand for their service there and an investment climate at home that is, according to industry insiders, only making their lives harder. In a recent story for The Globe and Mail, Dan Healing quotes a few executives from […]

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U.S. Oil Prices May Climb to $80 This Year

WTI prices haven’t settled at $80 since Halloween 2014 Tightening global supplies and rising demand for crude oil helped prices for the commodity start the year with a bang—hitting their highest levels in more than three years—and many analysts believe the market has the fuel it needs to continue the rally to as high as […]

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OPEC Risks Lower for Longer – Bloomberg

  Oil is set for its first weekly gain in a month after EIA data showed U.S. inventories dropping the most this year. But it’s an unexpected surge in U.S. production that’s set to derail OPEC’s plans of phasing out its output cutting regime by June. Bloomberg’s Will Kennedy reports on “Bloomberg Daybreak: Europe.” (Source: […]

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US Oil Rig Count Rises for 7th Straight Week, Baker Hughes Says

The US oil-rig count rose by seven to 609 this week, according to oilfield-services giant Baker Hughes. The gas rig count fell by five to 146. With miscellaneous rigs unchanged at one, the total rig count rose by two to 756. Last week the tally of oil rigs rose by six. West Texas Intermediate crude oil futures […]

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Rig Count Hops Up 12; Permian Basin Again Drives Rise

The number of oil and gas rigs in U.S. fields rose again this week, up 12 or about 170 over the past three months. This week’s count marks the fourth increase in a row, and a boom of more than 335 rigs since the count fell to its recent low, last spring. U.S. oil drillers […]

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Oilfield Rental Equipment

Domestic Oil Boom Is Powering Oilfield Rental Market To New Heights

Many new and veteran oil drilling companies are leveraging equipment rentals to help secure new drilling contracts The United States has increased oil production from just under 5 million barrels per day in 2008, to just shy of 8 million barrels per day during 2013. This massive increase in resource extraction is the result of […]

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