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Tag Archives: crude exports

Dallas Fed: Texas oil is strong

Permian Basin, Wolfcamp

The most recent report from the Federal Reserve Bank of Dallas for June 2017 shows that many indicators for the oil and gas sector continued to increase in May. While WTI crude dropped slightly, production growth continues to stay strong, especially in the Permian basin. Below is a summary of the report from the Dallas Fed. For more details and graphs, be sure ...

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Economic pain predicted in Oklahoma amid slumping oil prices

OKLAHOMA CITY (AP) — Slumping energy prices and dwindling tax collections already have punched a $1.3 billion hole in Oklahoma’s budget for next year, but there may be more economic “pain on the horizon,” one of the nation’s top ratings agency said Tuesday. Moody’s Investors Service released detailed reports on California, North Dakota and Oklahoma as part of its research ...

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Zinke a key lawmaker in removing U.S. crude export ban

U.S. Rep. Ryan Zinke, R-Mont., is making his case for removing the national ban on crude exports. Zinke told journalists Wednesday the 1970s ban on exporting U.S. oil is hurting the economy, both nationally and in Montana. He estimated that increased Bakken activity resulting from oil exports would create 2,400 jobs in Montana, primarily in the Eastern Montana oil patch ...

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Hamm is certain the export ban will be lifted by October just as OPEC reduces output

Continental Resources CEO sees oil rising to $60 by year end

The global oil market is in for some big changes this fall if oil tycoon Harold Hamm’s crystal ball proves accurate. During a quarterly update conference call on Aug. 6, the Continental Resources Chairman and Chief Executive Officer predicted an “energy paradigm shift will have profound long-term consequences worldwide starting with the U.S. crude export ban being lifted so America ...

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U.S. shale and OPEC, the altered balance of power: Kemp

United States and OPEC: The shifting balance of power 1950-2015 chartbook. (The opinions expressed here are those of the author, a columnist for Reuters.) LONDON – Two landmark events this month will underscore the extent to which the oil market’s balance of power has been transformed by the shale revolution. In Washington, Congress will begin considering legislation to permit the ...

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Oil rally snaps as ample supplies outweigh U.S. stock draw

NEW YORK – Oil fell 2 percent on Thursday, wiping out gains from the past two sessions, as euphoria from the first U.S. inventory drawdown in months faded and focus returned to oversupplies in crude and gasoline. A stronger dollar also weighed on the energy complex, making raw materials became less affordable to holders of the euro and other currencies. ...

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Naimi says Saudi oil production near record high in April

SEOUL – Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom’s willingness to defend market share at a time when oil markets have staged a fragile recovery. There are worries among some producers that growing output from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries ...

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U.S. discussing possible light crude exports to Mexico-Pritzker

MEXICO CITY, Jan 6 – The United States is engaged in ongoing discussions with Mexican officials over whether to export light crude oil to its southern neighbor, U.S. Commerce Secretary Penny Pritzker said on Tuesday. The potential light crude exports from the United States, where output is surging, thanks to the shale boom, would mark a dramatic shift in the ...

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Crude ban could cost nearly 1 million jobs and hinder gas price drop

Zachary Toliver | Shale Plays Media As the last day of the U.S. Energy Information Administration conference continues, a hot topic guiding many presentations and conversations is the fate of the export bans around homemade petroleum. Jamie Webster, an oil market analysis from IHS touched on this issue during his presentation with very insightful data to explain what an impact ...

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Continental seeking crude export license – Argus

continental resources

(Reuters) – Continental Resources has asked the U.S. government for a permit to export crude oil it produces in North Dakota and hopes approvals will be granted for the industry as a whole, a company executive said on Tuesday. Stephen Bradley, the vice president of oil marketing for Continental, the leading producer in North Dakota’s Bakken field, said the Department of Commerce has been ...

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