Oil jumps 8% on stimulus hopes, spending cuts by U.S. producers

NEW YORK (Reuters) – Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier

On Monday, U.S. President Donald Trump pledged “major” steps to gird the U.S. economy against the impact of the spreading coronavirus outbreak.

Japan’s government said it planned to spend more than $4 billion in a second package of steps to cope with the virus.



Read the full article here
Source: Reuters

Brent, WTI Crude Rebound

Prices are rising for Brent and WTI crude. The gains follow steep losses and a warning on global demand from the International Energy Agency that says global demand is in “free fall.” Bloomberg’s Su Keenan reports on “Bloomberg Daybreak: Asia.” (Source: Bloomberg)

Read the full article here
Source: Bloomberg

Boomtown, Episode 2: The Rise of the Permian

To understand the current shale boom, we take a step back in time to explore the history of oil in Texas.

Boomtown is a 10-episode podcast series produced in partnership with Imperative Entertainment.



Read the full article here
Source: Texasmonthly.com

Oil tops $60, settles near 3-month high

Oil prices rose slightly Monday on hopes energy demand will benefit from the trade deal between the United States and China.

Brent crude oil futures rose 16 cents to $65.37 a barrel, while West Texas Intermediate crude rose 14 cents to settle near a three-month high of $60.21 a barrel.



Read the full article here
Source: CNBC


Watch: A conversation about how the oil and gas sector affects Texas

In a state that produces more crude and more natural gas than any other, is it any wonder the sun rises and sets on the price of West Texas Intermediate?

In this live conversation, we sit down with industry professionals and local officials for a conversation on the state of play in Texas’ oil and gas sector, moderated by The Texas Tribune’s Ross Ramsey.



Read the full article here
Source: The Texas Tribune


The U.S. Dominates New Oil And Gas Production

The American fracking for oil and natural gas boom will continue on through the 2020s. And why not? Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels.

Natural gas reserves have surged over 80% to ~430 trillion cubic feet.



Read the full article here
Source: Forbes

U.S. Shale Will Grow Regardless Of Oil Prices

U.S. shale oil production will continue growing.

Despite a decline in the number of drilling rigs in the U.S. shale patch since the start of the year, the number of spudded wells has not fallen significantly.



Read the full article here
Source: Oilprice.com


Cowboys Owner Jerry Jones Says He’s Hunting for More Gas Assets

Dallas Cowboys owner Jerry Jones is doubling down on Louisiana’s Haynesville play.

Jones, 77, said “My immediate plan is to continue to aggregate long-term reserves to have the most efficient source of natural gas.”



Read the full article here
Source: Bloomberg.com

Natural Gas Emerging as the World’s Go-To Fuel

Natural gas is the cleanest, most versatile, and most flexible fossil fuel.

This all explains why gas today provides a rising 30 percent of the energy used in the rich OECD economies.



Read the full article here
Source: rigzone.com

Supply and demand

U.S. oil producers have said they plan to slow production to reduce supplies and thus boost the costs.

But experts say that oil production will stay ramped up into 2020, and will slow later next year and after.



Read the full article here
Source: Toledoblade.com