Oil

The United States is expected to churn out far more oil this year than what international analysts originally forecasted. The International Energy Agency, a Paris-based organization that helps coordinate energy policies for industrial countries, released its latest oil market report on Friday, noting exceptional numbers for the U.S. fossil fuel industry. The agency reported that
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The total U.S. rig count for December 2018 was 1,147, down 36 (-3%) from November 2018, and up 117 (+11%) from December 2017, according to analysts at S&P Global Platts, the leading independent provider of information and benchmark prices for commodities and energy markets. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling
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  by Nick Givas Former president of Shell Oil Company John Hofmeister said former President Barack Obama had nothing to do with America’s increased oil production and actually frustrated many areas of the energy sector. (Article Continues Below Advertisement) Obama claimed he was responsible for America’s recent oil boom during an event hosted by Rice University’s Baker Institute
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  by Jason Hopkins Booming U.S. oil production is wreaking havoc on the Organization of the Petroleum Exporting Countries’ (OPEC) influence of the international market. (Article Continues Below Advertisement) American oil and gas companies — thriving from the country’s shale oil boom — are experiencing rapid rates of production. The U.S. experienced its largest
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  by Jason Hopkins Analysts with the Organization of Petroleum Exporting Countries (OPEC) are closely monitoring American output, warning members that rising U.S. production could drive down oil prices. (Article Continues Below Advertisement) OPEC officials are concerned that increased U.S. oil production and a seasonal buildup of oil stock could put downward pressure on oil
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