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Tag Archives: energy prices

Insider Q&A: Energy expert predicts volatile oil prices ahead

OPEC, oil prices, oil glut

DALLAS (AP) — Gasoline prices have leveled off after coasting downhill with the slump in oil. Facing a glut of crude, OPEC members will meet next month in Vienna and try to write the details of a plan to reduce oil production. Columbia University energy analyst Jamie Webster talked with The Associated Press about prospects for meaningful action by OPEC. ...

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US rig count sees first significant jump of 2016

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. rose by four this week to 408, the first rig count gain in months and halting a slide that pushed the count to record-low levels amid collapsed energy prices. A year ago, 868 rigs were active. Houston oilfield services company Baker Hughes Inc. said ...

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US rig count continues to drop amid low energy prices

rig count, baker hughes

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped by two this week to 404, another all-time low amid low energy prices. A year ago, 885 rigs were active. Houston oilfield services company Baker Hughes Inc. said Friday 318 rigs sought oil and 85 explored for natural gas. One was listed as ...

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US rig count drops 5 this week to 415

rig count, oil natural gas

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped by five this week to 415, another all-time low amid depressed energy prices. A year ago, 894 rigs were active. Houston oilfield services company Baker Hughes Inc. said Friday that 338 rigs sought oil and 86 explored for natural gas. One was listed ...

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US stocks rise with oil prices, machinery companies climb

NEW YORK (AP) — U.S. stocks are moving higher Tuesday morning as energy companies rise with the price of oil. Earnings reports are driving much of the action. Grocery store chain SuperValu is climbing, while appliance maker Whirlpool is falling sharply. KEEPING SCORE: The Dow Jones industrial average gained 45 points, or 0.3 percent, to 18,022 as of 10:18 a.m. ...

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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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New Mexico draws down reserves to fund government operations

Looking up inside the New Mexico State Capitol building. (Image: David Graff via Flickr)

SANTA FE, N.M. (AP) — A rebound in oil prices is helping New Mexico stay on track to balance revenues and spending this fiscal year without resorting to further austerity measures, state economists and taxation officials told lawmakers Monday. Spot prices for West Texas crude oil hovered around $39 a barrel on Monday — up from the $27-per-barrel range in ...

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Boom or bust, courts remain busy in North Dakota oil patch

North Dakota State Supreme Courtroom. (Image: Timothy Vogel via Flickr)

FARGO, N.D. (AP) — The Bakken oil boom was in full throttle when a North Dakota couple leased rights to water on their property so it could be used in hydraulic fracturing, the process of extracting sweet crude from the ground. Then, energy prices began to plummet. The result, Jeffery and Shelley Schmidt say, is they were stiffed on about ...

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Employers add jobs in 30 US states in January, cut in 20

In this March 3, 2016 photo, Georgia Department of Labor services specialist Louis Holliday, left, helps a woman with a job search at an unemployment office in Atlanta. Employers stepped up hiring in 30 states in January, led by big gains in Florida, Texas and North Carolina, while 20 states shed jobs. (AP Photo/David Goldman)

WASHINGTON (AP) — Employers stepped up hiring in 30 states in January, led by big gains in Florida, Texas and North Carolina, while 20 states shed jobs. THE NUMBERS: The unemployment rate fell in 28 states, rose in 8 and was unchanged in 14. The unemployment rate doesn’t always decline even when more hiring occurs, because more Americans may start ...

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Number of US rigs down to 502; Texas down 5

Number of US rigs drops to 502; Texas down 5

HOUSTON (AP) – Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 12 this week to 502. The Houston company said Friday that 400 rigs sought oil and 102 explored for natural gas amid depressed energy prices. A year ago, 1,267 rigs were active. Among major oil- ...

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