Thursday, November 28, 2024
OPEC+ deal collapse, virus double whammy to keep oil in $30s range - Reuters poll- oil and gas 360

OPEC+ deal collapse, virus double whammy to keep oil in $30s range – Reuters poll

Reuters Oil prices are set to languish near current lows in coming months as the collapse of a deal among major producers to curb output hammers a market already reeling from falling demand due to the coronavirus, a Reuters survey showed on Friday. Analysts in the snap poll slashed their forecasts of Brent crude prices LCOc1 to $42 a barrel

U.S. rig count had an increase of 1 this week, at 255- oil and gas 360

U.S. rig count decreased by 1 this week, at 792

This week’s Baker Hughes rig count shows that U.S. had an decrease of 1 over last week, resulting in a total count of 792 rigs. Canada had a decrease of 27 over last week, resulting in a total Canadian count of 175 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford, Marcellus and Permian regions

Apache Corp prepared to cut costs if oil prices remain low, CEO says- oil and gas 360

More Houston energy companies slash spending

Houston Chronicle Two more Houston energy companies slashed spending and dividends Thursday after oil prices crashed earlier this week. Apache Corp. and Noble Energy each cut about a third of their planned capital spending, about $650 million and $550 million, respectively, from their budgets used to fund oil exploration and production. Apache also cut its quarterly dividend by 90 percent

Oil prices set for biggest weekly drop since 2008-oil and gas 360

Oil prices set for biggest weekly drop since 2008

Reuters LONDON  – Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 4% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply. Brent crude LCOc1 was up $1.24, or 3.7% on the day, at $34.46 per barrel by 14075 GMT after rising earlier by over 7%. They