Monday, December 2, 2024
Shale turning record profits after decade of steep losses- oil and gas 360

Shale turning record profits after decade of steep losses

World Oil (Bloomberg) — U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses.   The top 28 publicly traded U.S. independent oil producers generated $25.5 billion in free cash flow in the three months to June 30, according to estimates compiled by Bloomberg. In that space of time they’ll

Manchin and Schumer’s ‘Inflation Reduction Act’ a mixed bag for energy industry- oil and gas 360

Manchin and Schumer’s ‘Inflation Reduction Act’ a mixed bag for energy industry

World Oil Energy Workforce continues to digest the potential reconciliation deal — the “Inflation Reduction Act” — in the Senate. Initial thoughts are mixed; some provisions may be beneficial to our sector while others will be negative. The below summary is based on an initial read, and we can expect additional details to be forthcoming. Provisions That Will Benefit Sector

Oil sinks after weak factory data sparks demand concerns- oil and gas 360

Oil sinks after weak factory data sparks demand concerns

Yahoo Finance NEW YORK – Oil prices dropped sharply on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply. Brent crude futures fell $4.10, or 3.9%, to $99.87 a barrel by 1:19 p.m. EDT (1719 GMT), having fallen to a session