More Economics & Oil Market News

Senate leaders ask EIA for detailed look at crude export impacts

US Senate Energy and Natural Resources Committee leaders asked the Energy Information Administration to conduct a more extensive analysis of possible consequences from lifting or easing the ban on exporting domestically produced crude oil.

IEA: Global oil supplies plunge in March on lower OPEC output

Global crude oil supplies fell month-on-month in March by a steep 1.2 million b/d to 91.75 million b/d, with a decline in output from members of the Organization of the Petroleum Exporting Countries accounting for near 75% of the loss, according to the International Energy Agency’s most recent Oil Market Report.

MARKET WATCH: Crude oil futures prices slide in week’s see-saw market

The New York Mercantile Exchange May crude oil contract price was down 20¢ on Apr. 10, closing at $103.40/bbl. The June contract fell 27¢ to $102.38/bbl.

MARKET WATCH: Crude oil futures rise on Libya, Ukraine concerns

Crude oil futures prices reached a 5-week high on the New York market Apr. 9 amid continued uncertainty about apparent delays in an anticipated resumption of Libyan oil exports and continued political uncertainty regarding Ukraine, analysts said.

FRA to propose requiring two-member crews on trains carrying crude

The Federal Railroad Administration (FRA) plans to propose requiring trains transporting crude oil to have at least two crew members, the US Department of Transportation agency announced. It said it also intends to propose a train securement rule and recommend a rulemaking on hazardous materials movement.

MARKET WATCH: NYMEX oil price jumps on EIA’s reduced oil production forecast

The benchmark US crude oil futures price jumped more than $2/bbl on Apr. 8 after the US Energy Information Administration released a report saying government analysts reduced their earlier oil production forecast for this year and next.

Russia falls to last place in SAFE’s latest Oil Security Index

Russia, which ranked as high as No. 9 in 2005, fell to last place in the most recent quarterly update of the global Oil Security Index (OSI), released by Securing America’s Future Energy (SAFE), the nonpartisan organization dedicated to the reduction of US dependence on foreign oil.

MARKET WATCH: Oil futures drop on expected resumption in Libyan supply

Crude oil futures prices fell on New York and London markets Apr. 7 on expectations that two eastern Libyan ports that export oil would be reopened soon, increasing world oil supplies.

Moody’s: Global refining, marketing industry to see earnings rise this year

The global refining and marketing industry will continue to see pockets of earnings growth over the next year, but flat conditions overall, with product demand expected to increase modestly this year by 1.2 million b/d, according to a recent report from Moody’s. That demand increase will be roughly in line with net global capacity additions, Moody’s said.

MARKET WATCH: Crude oil futures end week higher

The New York Mercantile Exchange May crude oil contract rose 85¢ on Apr. 4, closing at $101.14/bbl. The June contract gained 83¢ to $100.46/bbl.

Move carefully on crude exports, refiner urges House subcommittee

Tight oil formations have helped the US increase its crude production dramatically, an independent refiner conceded. But the nation should proceed cautiously as it considers authorizing more crude exports, he told a US House Foreign Affairs Committee subcommittee.

EIA: Ethanol spot prices rise on rail congestion, cold weather

Spot prices for ethanol have increased steadily since early February, driven by logistical problems and harsh weather conditions, according to the US Energy Information Administration.

MARKET WATCH: Oil prices slip on possible resumption of Libya supply

Crude oil futures prices slipped during Apr. 2 trading on both the New York and the London markets, which analysts attributed primarily to reports that the Libyan government and rebels had reached an agreement to reopen some oil terminals within days.

EIA: Net energy imports in 2013 lowest in more than 2 decades

Total US net imports of energy, measured in terms of energy content, declined 19% from 2012 to 2013, hitting the lowest level in more than 20 years, according to the US Energy Information Administration.

MARKET WATCH: NYMEX crude oil futures drop below $100/bbl

Crude oil futures dropped by more than $1/bbl on the New York market and dipped by more than $2/bbl on the London market on Apr. 1 following the release of a report that Chinese manufacturing was slowing, which triggered concerns about world oil demand, analysts said.

Market Connections

Vantage Drilling

Currently Hiring Positions in the Gulf of Mexico

Vantage Drilling is an international offshore drilling contractor which operates and manages a fleet of modern, high specification drilling rigs on...
Successful, small, private E&P Company in Covington, LA has opening for experienced Petroleum Engineer. Work with Mgmt and Earth Scientists, limited supervision, well-organized, team player.  Exp performing O&G well file research, compiling data, preparing AFEs, economics, writing procedures and recommendations.  Exp in supervising workovers, well intervention projects, and knowledge of ops in both onshore and inland waters.  Petroleum Engineering degree or equivalent.  Exp in planning and executing sidetracks and new drills preferred.   Communication skills a must.   Current BOP cert preferred.  Comp benefits.

Gulf Coast Petroleum Engineer

Successful, small, private E&P Company in Covington, LA has opening for experienced Petroleum Engineer. Work with Mgmt and Earth Scientists, li...
Large Capacity Natural Gas Pipeline located in South Texas Eagle Ford Shale Area. Growing company is currently seeking qualified candidates for IMMEDIATE OPENINGS: Gas Pipeline Compressor Station Operator, Gas Pipeline Compressor Station I&E Technician, Gas Pipeline Compressor Station Maintenance Technician.

Growing company is currently seeking qualified candidates for IMMEDIATE OPENINGS

Large Capacity Natural Gas Pipeline located in South Texas Eagle Ford Shale Area. Growing company is currently seeking qualified candidates for IMM...
Manager of Exploration and Development

Manager of Exploration and Development

Manager of Exploration and Development: An Australian O&G Independent E&P company is seeking Manager of Exploration and Development - Onsho...
IDAHO DEPARTMENT OF LANDS

Now Hiring: Minerals Leasing Program Manager

Become part of an organization where you will work with dedicated and extraordinary people who have commitment and skills to manage and protect Ida...

Oil & Gas Conferences

  • List View
Event Title Date Type

Offshore Middle East Conference & Exhibition

January 26, 2015
Stay Connected