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Whats Affecting Oil Prices This Week? (Sept. 28, 2020)

2020-09-28 18:00:00| OGI

So far in 2020 the oil market has seen Brent crude plummet, the U.S. lose 3 million bbl/d of crude production and European refiners more than halve utilization rates. However, as incredible as it seems, the worst might be yet to come, Stratas Advisors says in its latest oil price forecast.

Tags: week prices oil sept

 

Trump Extends Oil Drilling Ban Offshore North Carolina, Virginia

2020-09-28 11:10:00| OGI

U.S. President Donald Trump said Sept. 25 he had extended a ban until 2032 on oil drilling off the coast of North Carolina and Virginia, weeks after a similar extension affecting offshore drilling.

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Texas Oil Regulator Exceeds Annual Goal for Plugging Abandoned Wells

2020-09-25 22:45:00| OGI

The Railroad Commission of Texas plugged 1,477 abandoned oil and gas wells in fiscal-year 2020, which ended on Aug. 31, exceeding its target for the fourth straight year.

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Canadian Government Commits $320 Million to Aid Offshore Oil Industry

2020-09-25 20:35:00| OGI

Newfoundland and Labrador is the third-largest oil-producing province in Canada, producing 5% of the country's crude in 2018. Low oil prices have forced producers to cut spending and output globally.

Tags: industry government million oil

 

US Oil Drillers Add Rigs, Still Down for Seventh Quarter

2020-09-25 19:45:00| OGI

The oil and gas rig count, an early indicator of future output, rose six to 261 in the week to Sep. 25, energy services firm Baker Hughes said in its closely followed report.

Tags: add oil quarter seventh

 

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