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Tag Archives: Production

U.S. drillers added oil rigs for the 17th straight week

U.S. drillers added oil rigs for the 17th straight week picture-12714-310x165

Oil prices settled slightly higher on Friday as lower U.S. crude inventories and increasing support for continued OPEC-led production cuts inspired hope that the global supply glut can be reduced. “Owing to the rapid recovery in U.S. oil production, OPEC obviously only has limited influence on prices via supply curbs,” …

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Angola may faced low oil prices and declining production

Angola may faced low oil prices and declining production picture-12466-310x165

At current oil prices, total U.S. crude oil production is expected to rise this year compared to last year, but it will be driven by the Permian down in West Texas. That’s because less oil means slower-moving oil, and slower-flowing oil means colder oil. Pipeline operator Alyeska is adding heat …

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Harold Hamm: U.S. Shale Spending Binge Could Destroy Oil Market

Harold Hamm: U.S. Shale Spending Binge Could Destroy Oil Market picture-11233-310x165

collected by :Jack Alex In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market. Continental Resources sees full-year 2017 output at between 220,000 boepd and 230,000 boepd, versus around 217,000 …

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