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Tag Archives: brent crude

U.S. overtakes Russia, Saudi Arabia in worldwide oil production


John Deede | Shale Plays Media Google+ Bank of America Corp. has announced that the United States has become the world’s biggest oil producer. Grant Smith from Bloomberg News reports: U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said ...

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Oil little changed ahead of US supply report


The Associated Press The price of oil was little changed below $103 barrel Thursday as traders awaited confirmation of a large rise in U.S. crude stockpiles. By early afternoon in Europe, benchmark crude for July delivery was down 4 cents to $102.68 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the Nymex contract dropped $1.39 ...

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Pipeline projects help shrink domestic oil discount

oil drums

By Adam Wilmoth, the Oklahoman  Crude oil stockpiles in Cushing are at their lowest levels in two years after new pipeline projects have begun moving oil more easily to refineries along the Gulf Coast. Despite the increased oil flow, the U.S. Energy Information Administration this week said the new pipelines — along with increasing domestic oil production — are expected to ...

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Brent Crude concerns with the shutdown


SINGAPORE, Oct 3 (Reuters) – Brent futures slipped below $109 a barrel on Thursday, after posting their biggest gain in two weeks in the previous session, on worries a prolonged U.S. government shutdown would hurt demand in the world’s biggest oil consumer. President Barack Obama met with Republican and Democratic leaders in Congress to try to break a budget deadlock that has shut wide swaths of ...

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Brent crude numbers fall based on shutdown concerns


By Jacob Gronholt-Pedersen SINGAPORE, Oct 2 (Reuters) – Brent crude extended losses below $108 on Wednesday on concerns the U.S. government shutdown would reduce demand for commodities, while expectations that U.S. oil inventories rose last week also put pressure on prices. Wrangling in the United States between President Barack Obama and congressional Republicans has forced the first government shutdown in ...

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