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Oil supply seen outpacing demand, capping price

Oil supply seen outpacing demand, capping price

PARIS (AP) — The International Energy Agency says oil supply is set to outpace demand this year, keeping a lid on any expected price increases. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 2 million barrels per day during the first quarter, and a further 1.5 million barrels ...

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Iowa Utilities Board begins deliberating Bakken pipeline

pipeline safety

DES MOINES, Iowa — The Iowa Utilities Board is meeting to consider whether to approve a hazardous liquid pipeline permit for an oil pipeline that will stretch 346 miles across the state diagonally from the northwest to the southeast. Texas-based Dakota Access is building the so-called Bakken pipeline to carry a half-million barrels of oil per day from North Dakota ...

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Regulators looking at proposed electricity rate increase

electricity

BILLINGS, Mont. (AP) — A proposed steep hike in electricity rates for 26,000 homes and businesses in eastern Montana is up for consideration by state regulators who have aired prior concerns. Montana-Dakota Utilities is seeking a 21 percent increase to cover costs that include its share of $400 million in pollution controls at coal plants in Montana and South Dakota. ...

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PSC holding hearings in Watford City on 2 pipeline projects

WATFORD CITY, N.D. (AP) — North Dakota regulators are holding public hearings in Watford City on two proposed pipelines in McKenzie County. Both Public Service Commission hearings are Tuesday at Teddy’s Residential Suites. ONEOK (WHUN’-ohk) Bakken Pipeline LLC is seeking a permit for a $19.5 million, 14-mile natural gas liquids pipeline. It would connect with the existing Garden Creek Pipeline to expand ...

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US stocks open lower; energy sector sinks along with oil

US stocks open lower; energy sector sinks along with oil

U.S. stocks moved broadly lower in early trading Monday, putting the market on track for its second sizeable loss in a row. Technology, financial and energy stocks were among the biggest decliners. The slide followed steep drops in Europe. Crude oil prices slumped again. KEEPING SCORE: The Dow Jones industrial average fell 309 points, or 1.9 percent, to 15,903 as ...

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Global oil production cash negative at current prices

oil barrel, market quick take, crude oil market

3.4 Million barrels per day (b/d) of oil produced globally is produced at cash negative number, according to an analysis by Wood Mackenzie. This has resulted in an unexpectedly low rate of stopped production of less than 100,00 b/d globally. Companies continue to pump oil despite these low rates in hopes oil prices will rebound. Restart costs and covering fixed ...

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Public hearing scheduled in Watford City for proposed crude oil pipeline

BISMARCK, ND – The North Dakota Public Service Commission (PSC) will hold a public hearing in Watford City on Thursday, Feb. 11, regarding a proposal for a crude oil pipeline in McKenzie County. Tesoro High Plains Pipeline Company, LLC, has submitted an application for a permit for the Targa Antelope Lateral Pipeline Project. The new 1.4-mile long, 12-inch diameter crude ...

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