US production

Energy Workforce & Technology Council: Interior’s abuse of Endangered Species Act will curtail U.S. energy production

November 6, 2023

World Oil (WO) – The Energy Workforce and Technology Council issued a statement applauding the passage of H.R. 4821, the Department of the Interior, Environment, and Related Agencies Appropriations Act for Fiscal Year 2024. This bill passed in a bipartisan vote of 213 to 203. The legislation includes provisions advanced by Energy Workforce, including limiting the abuse of the Endangered

Early-season Gulf of Mexico storm trims some U.S. oil production

June 18, 2021

Reuters HOUSTON – The first storm to hit oil-producing regions of the U.S. Gulf of Mexico this year sent workers fleeing offshore oil platforms and cut some production. A weather disturbance in the central Gulf of Mexico was expected to become a tropical storm on Friday. It was moving north at about 14 miles per hour (22 kmh) and could

Oil hits $68 on Libya force majeure despite pandemic surge

April 20, 2021

Reuters LONDON – Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by disruption to Libyan exports and expectations of a drop in U.S. crude inventories, though rising coronavirus cases in Asia limited gains. Libya declared force majeure on exports from the port of Hariga and said it could extend the measure to

Oil falls over 3% as dollar rises and vaccine rollout stalls

March 18, 2021

Reuters LONDON – Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic. Brent crude was down $2.33, or 3.43%, to $65.67 a barrel at 1426 GMT. U.S. oil was down $2.27, or 3.51%, at $65.67 after shedding 0.3%

Oil prices gain as inventories fall and demand picks up

February 1, 2021

Reuters LONDON – Oil prices rose on Monday buoyed by falling inventories and hopes of a swifter global economic recovery, although halting vaccine rollouts and renewed travel restrictions capped gains. Brent crude was up 57 cents, or 1%, at $55.61 a barrel by 1449 GMT. U.S. crude gained 41 cents, or 0.8%, to $52.61. Both benchmarks gained nearly 8% in

Six US oil firms are expected to shut 300,000 barrels per day of production in May and June

April 29, 2020

CNBC U.S. energy companies are taking an axe to their rig numbers, deepening production cuts for the industry that in the last few years made America the world’s number one oil producer. Six major U.S. shale producers are expected to shut some 300,000 barrels per day (bpd) of crude for the months of May and June, according to an