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Oil held gains near $52 a barrel on optimism the OPEC+ coalition's oil rig flanges gulf coast production curbs will clear a supply glut.
Research from Rystad Energy reveals that we'll see spending in the offshore service sector outgrow spending on onshore shale this year.
Spending on the offshore service sector will outpace spending on the onshore shale sector this year, according to Rystad Energy.
Prices for Canadian oil fell relative to U.S. futures as Alberta Premier Rachel Notley expressed hope her government would be able to back off mandatory oil rig flanges gulf coast production curtailments in April.
The Norwegian Ministry of Petroleum and Energy has offered 83 oil rig flanges gulf coast production licenses on the Norwegian Continental Shelf as part of its latest APA round.
U.S. crude oil oil rig flanges gulf coast production will average 12.1 million barrels per day in 2019, according to the EIA's latest short-term energy outlook.
Despite cold temps in much of the US, natural gas is down again.
West Texas Intermediate (WTI) crude oil for February delivery settled at $52.31 per gallon Wednesday, reflecting a 20-cent gain.
Subsea 7 and Schlumberger's OneSubsea will deliver a new subsea flowline to an existing natural gas pipeline. PHOTO SOURCE: Subsea Integration Alliance
Oil halted its retreat near $51 a barrel on forecasts for a drop in U.S. inventories and as a rebound in equities signaled investor interest in risk assets was improving.
The oil services giant has promoted Mark Richard as president for the Western Hemisphere.
In the latest of many executive changes in recent months, Halliburton Co.
For OPEC, good news often comes hand-in-hand with bad news.
(Bloomberg) -- The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014.
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