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US will maintain oil production despite falling prices, says deputy energy secretary

The U.S. will maintain its oil production — or even ramp it up higher — despite low energy prices and slowing economic growth, Deputy Energy Secretary Dan Brouillette said Wednesday......»»

Category: topSource: moneycentralJun 12th, 2019

Former energy secretary says oil industry faces "massive collapse"

"I'm telling you, we are on the verge of a massive collapse," Perry said of the impact the plunge in oil prices could have on U.S. operators......»»

Category: topSource: moneycentralApr 1st, 2020

Occidental slashes budget, salaries in bid to cope with falling oil prices

Occidental Petroleum Corp on Wednesday unveiled a new round of deep spending cuts, slashing budget for a second time this month and sharply reducing salaries, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices......»»

Category: topSource: reutersMar 25th, 2020

Occidental Petroleum cuts CEO, staff pay to combat falling oil prices

Occidental Petroleum Corp will cut employee salaries by up to 30%, according to an internal memo reviewed by Reuters, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices......»»

Category: topSource: reutersMar 25th, 2020

Crude Oil at 18-Year Low, Energy Stocks Crushed

Crude oil prices have dropped to near two-decade lows as the Saudis affirm their production increase and the coronavirus slices into demand......»»

Category: blogSource: 247wallstMar 18th, 2020

Exclusive: Shale gas pioneer Chesapeake Energy taps restructuring advisers - sources

Chesapeake Energy Corp , the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday......»»

Category: topSource: reutersMar 16th, 2020

Notable Insider Buys Last Week: Energy Transfer, Hertz And Many More

Insider buying can be an encouraging signal for potential investors. Many insiders took advantage of falling share prices last week. Carl Icahn was among those actively buying shares. read more.....»»

Category: blogSource: benzingaMar 15th, 2020

Cenovus Energy To Suspend Crude-By-Rail Program In 2020

Falling crude oil prices have prompted Canadian oil and natural gas producer Cenovus Energy (NYSE: CVE) to stop its crude-by-rail program temporarily. read more.....»»

Category: blogSource: benzingaMar 13th, 2020

Oil falls as Saudi, UAE plan for higher output capacity

Oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity and OPEC and the U.S. Energy Information Administration (EIA) slashed oil demand forecasts because of the coronavirus outbreak......»»

Category: topSource: reutersMar 11th, 2020

EIA lowers U.S. crude production forecast, cuts 2020 oil price outlook by about 30%

The U.S. Energy Information Administration lowered its 2020 forecast for West Texas Intermediate and Brent crude oil prices by roughly 30% and reduced its expectations for U.S. crude-oil production, according to the Shor.....»»

Category: topSource: marketwatchMar 11th, 2020

Oil falls after Saudi Aramco asked to raise output capacity

Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day......»»

Category: topSource: reutersMar 11th, 2020

In stunning reversal, IEA now sees oil demand falling this year

The International Energy Agency on Monday issued a stunning forecast, now projecting oil demand to fall this year on the same day prices collapsed by some 20%......»»

Category: topSource: marketwatchMar 9th, 2020

Oil plunges at much as 30% as another virus-fueled trading week begins

Prices are falling as Saudi Arabia, Russia and other oil-producing countries argue how much to cut production in order to prop up prices.....»»

Category: topSource: foxnewsMar 9th, 2020

Oil plunges 25% as another virus-fueled trading week begins

Prices are falling as Saudi Arabia, Russia and other oil-producing countries argue how much to cut production in order to prop up prices.....»»

Category: topSource: foxnewsMar 9th, 2020

Chesapeake Energy"s stock tumbles toward record low below 21 cents as crude oil prices crumble

Shares of Chesapeake Energy Corp. plummeted 11% toward a record low close of just below 21 cents, as Russia's rejection of Saudi Arabia-proposed production cuts sent crude oil prices reeling. Chesapeake's stock has now tumbled 25.1% over the past w.....»»

Category: topSource: marketwatchMar 6th, 2020

Oil slammed as investors flee after Russia rejects steep OPEC cut

Brent suffered its biggest one-day loss in more than 11 years on Friday after Russia balked at OPEC's proposed steep production cuts to stabilize prices as the coronavirus outbreak slows the global economy and hurts energy demand......»»

Category: topSource: reutersMar 6th, 2020

Coronavirus has OPEC looking to cut production as outbreak hits demand

Energy producers have taken a hit from a 25 percent slide in crude prices since January.....»»

Category: topSource: foxnewsMar 5th, 2020

Notable Insider Buys Last Week: Kinder Morgan, Trinity And More

Insider buying can be an encouraging signal for potential investors. Past insider buyers returned to take advantage of falling share prices. Two energy companies and an industrial saw notable insider purchases. read more.....»»

Category: blogSource: benzingaMar 1st, 2020

Energy junk-bonds tumble as coronavirus fears drag oil, natural gas lower

Falling West Texas Intermediate crude prices, as the COVID-19 epidemic spreads and threatens global growth, are adding to the troubles of high-yield energy companies......»»

Category: topSource: marketwatchFeb 27th, 2020

More Stark Predictions for Crude Oil Prices and Production in 2020

According to the U.S. Energy Information Administration, things may be getting worse for the price of oil before they get better......»»

Category: blogSource: 247wallstFeb 11th, 2020

Oil slides as demand fears outweigh hopes for bigger OPEC+ cuts

Oil prices edged lower on Tuesday as fears that energy demand would take a long-term hit from the coronavirus outbreak offset prospects for more cuts in crude production from OPEC and its allies......»»

Category: topSource: reutersFeb 4th, 2020