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Tag Archives: u.s. shale production

Oil prices edge down as slowing demand adds to high output

SINGAPORE – Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. Front-month U.S. West Texas Intermediate (WTI) futures CLc1 were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday’s close. The ...

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Energy glut, low commodity prices hitting Ohio’s Utica Shale; cutbacks are growing in eastern Ohio

oil and gas drilling rig operating in Ohio's Utica Shale formation

Drilling is slowing down in Ohio’s Utica Shale because of low commodity prices and growing energy supplies. Continued low prices tied to the Organization of Petroleum Exporting Countries’ efforts to derail shale drilling in the United States have put a major crimp into drilling for natural gas and liquids in Ohio and other shale-drilling states. OPEC has continued production, despite ...

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Editorial: Allowing US oil exports is shortsighted

oil tanker and a sail boat

Having access to oil is critical to the United States. It is, in fact, a matter of national security. Yet, old fashioned greed has clouded judgment as Congress, as part of its budget agreement, is lifting crude oil export restrictions that have effectively banned most sales of U.S. crude oil abroad. The price of crude oil has plummeted around the ...

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Budget deal bill boosts oil exports, renewable energy

In this Sept. 5, 2015, photo, a pump jack pumps oil on a hill above Alexander, N.D, and the town's school. The U.S., seemingly awash in crude oil after an energy boom sent thousands of workers scurrying to the plains of Texas and North Dakota, will begin exporting oil for the first time since the 1973 oil embargo. (AP Photo/Martha Irvine)

WASHINGTON — Republicans are hailing the likely demise of a 40-year-old ban on crude oil exports, as well as spending limits imposed on the Environmental Protection Agency, a longtime GOP target. Democrats are cheering five-year extensions of tax credits for wind and solar energy producers and renewal of a land and water conservation fund that protects parks, public lands, historic ...

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Cheap gas spurs SUV sales and puts U.S. climate goals at risk

A car is filled with gasoline at a gas station pump in Carlsbad, California August 4, 2015. REUTERS/Mike Blake

WASHINGTON/DETROIT – Surging demand for trucks and SUVs fueled by cheap gasoline is holding back improvements in U.S. fuel economy and greenhouse gas emissions, a government report due out on Wednesday is expected to show. The disconnect between consumer demand for larger, less efficient vehicles and the Obama administration’s climate goals sets up a clash between the auto industry and ...

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US rig count declines by 28 this week to 709

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. this week declined by 28 to 709. Houston’s Baker Hughes said Friday that 524 rigs were seeking oil and 185 explored for natural gas. A year ago, with oil prices almost double the prices now, 1,893 rigs were ...

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