Crude

Texas Upstream Employment on A Roll, with 2,800 Jobs Added in October

Texas Upstream Employment on A Roll, with 2,800 Jobs Added in October

Upstream oil and natural gas employment in Texas grew in October, with 2,800 jobs added for the month, according to state data. The gains in oil and gas extraction, as well as support jobs, were even more impressive after the Texas Workforce Commission (TWC) revised upward the job gains in September to 2,200 from an…

November 28, 2022
Shock OPEC-Plus Production Cut Galvanizes Fresh Support for Bill Targeting Cartel Price Fixing

Shock OPEC-Plus Production Cut Galvanizes Fresh Support for Bill Targeting Cartel Price Fixing

The consortium of oil-producing countries known as OPEC-Plus spurred rare bipartisanship in the U.S. capital after the cartel said it would slash crude production. The group said last week its decision to cut output by 2 million b/d in November was in response to global recessionary headwinds and threats to demand. But Washington lawmakers on…

October 10, 2022
Domestic Crude Production Falls as Recession Threats Intensify, Prices Pull Back

Domestic Crude Production Falls as Recession Threats Intensify, Prices Pull Back

U.S. oil output declined last week as prices descended and concerns mounted about global recession and geopolitical tumult tied to Russia’s invasion of Ukraine. Production for the week ended Sept. 23 declined by 100,000 b/d to 12.0 million b/d, the U.S. Energy Information Administration (EIA) said Wednesday in its Weekly Petroleum Status Report. The drop…

September 28, 2022
Domestic Oil Production Rises Alongside Bump in Demand

Domestic Oil Production Rises Alongside Bump in Demand

U.S. crude production ticked up last week, approaching a 2022 high, keeping pace with an increase in demand for travel fuels, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ended Aug. 26 rose by 100,000 b/d to 12.1 million b/d from the prior week, EIA said in its Weekly Petroleum Status…

August 31, 2022
U.S. Natural Gas Activity Slows Modestly, Oil Tally Grows on Permian Gains

U.S. Natural Gas Activity Slows Modestly, Oil Tally Grows on Permian Gains

The U.S. natural gas rig count fell one unit to 158 for the week ended Friday (Aug. 26), while a round of gains in the oil patch lifted the combined domestic drilling tally three units higher to 765, according to the latest data from oilfield services provider Baker Hughes Co. (BKR). Week/week changes domestically included…

August 26, 2022
U.S. Oil Output Climbs Ahead of Biden’s Call for Action to Curb Energy Inflation

U.S. Oil Output Climbs Ahead of Biden’s Call for Action to Curb Energy Inflation

Crude output ticked up last week, reaching a new 2022 peak ahead of President Biden’s latest call for U.S. producers to boost activity in the face of soaring prices. The U.S. Energy Information Administration (EIA) said Wednesday output climbed to 12.0 million b/d for the week ended June 10, up 100,000 b/d week/week. It marked…

June 15, 2022
U.S. Crude Inventories Dive Lower as Demand Outstrips Production, Imports

U.S. Crude Inventories Dive Lower as Demand Outstrips Production, Imports

Domestic petroleum consumption climbed in early February, driven by robust demand for gasoline, while production only crept ahead and inventories dropped to a 2022 low. Demand rose 2% week/week to 21.9 million b/d during the period ended Feb. 4, according to the U.S. Energy Information Administration (EIA). The advance was driven by an 11% jump…

February 9, 2022
Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition

Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition

Harvest Midstream is poised to take full ownership of some South Texas crude oil transportation and logistics assets as it seeks to expand services for upstream and downstream customers in the Eagle Ford Shale. The privately held midstream company announced a purchase and sale agreement to acquire the remaining 75% stake in Arrowhead ST Holdings…

January 14, 2022
NuStar to Expand Products Capacity on Texas-to-New Mexico Pipeline

NuStar to Expand Products Capacity on Texas-to-New Mexico Pipeline

Midstreamer NuStar Energy LP has unveiled plans to boost capacity by 6,000 b/d on a 293-mile refined products pipeline that runs from the Panhandle in Texas to Albuquerque, NM. The San Antonio-based limited partnership said Wednesday it would upgrade pump stations on the 17.2 million b/d Amarillo-to-Albuquerque Pipeline, which it jointly owns with Phillips 66…

March 5, 2021
EIA Reports Increase in U.S. Crude Inventories, Decline in Exports

EIA Reports Increase in U.S. Crude Inventories, Decline in Exports

Commercial crude oil inventories in the United States increased by 4.4 million bbl during the week ending Jan. 15 amid an uptick in net imports, according to data published Friday by the Energy Information Administration (EIA). Crude inventories excluding the Strategic Petroleum Reserve increased to 486.6 million bbl for the period, about 9% above the…

January 22, 2021
‹ Previous 1 2 3 46