Home / Tag Archives: Oil Prices

Tag Archives: Oil Prices

Halliburton hiring in West Texas

Halliburton hiring in Permian, An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

According to FuelFix, Halliburton is set to hire 200 workers in the Permian Basin in West Texas and New Mexico. The Current-Argus reported that Halliburton spokeswoman Emily Mir said in late December there will be job opportunities throughout the Permian, including in Artesia. As the oil industry begins to see a small upswing, local businesses are crossing their fingers that ...

Read More »

OPEC agrees to cut production, US producers prepare to respond

OPEC headquarters

Have you been watching the price of oil? As this story is being written, WTI Crude sits at $51.37, up 31 cents. Yesterday, according to Reuters, Brent crude was at its highest in 16 months. Why the jump? Because the Organization of Petroleum Exporting Countries agreed to its first oil output reduction since 2008. Members pledged to remove 1.2 million barrels ...

Read More »

AP Interview: IMF says low oil prices still hurting Mideast

middle east oil, mideast economy, oil prices, OPEC

DUBAI, United Arab Emirates (AP) — Oil-producing Mideast countries are coping with low global oil prices though more government reforms are needed, the International Monetary Fund’s chief for the Mideast said as the organization issued a new report Wednesday showing weak economic growth in the region. Masood Ahmed also told The Associated Press that Iran’s economy beat expectations by growing ...

Read More »

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. ...

Read More »

US stocks mostly higher as banks rise before Fed meeting

stock markets, wall street, federal reserve

NEW YORK (AP) — U.S. stocks are slightly higher in indecisive trading Monday afternoon. Banks are gaining as investors wait for the Federal Reserve to meet this week, while health care companies take small losses. KEEPING SCORE: The Dow Jones industrial average rose 32 points, or 0.2 percent, to 18,156 as of 3:15 p.m. Eastern time. The Standard & Poor’s ...

Read More »

Oil prices hit by downward revision to global oil demand

global oil production

LONDON (AP) — Oil prices took a pounding Tuesday after a leading industry group said global oil demand growth is slowing by more than previously thought, largely because of a more pronounced economic slowdown during the third quarter of the year. In its September oil market report, the Paris-based International Energy Agency reduced its forecast for global demand growth to ...

Read More »

New Mexico confronts budget shortfalls amid oil bust

New Mexico budget shortfall

RED RIVER, N.M. (AP) — The full extent of New Mexico’s budget crisis came into sharp focus Wednesday as state economists described an 8 percent plunge in revenues during the fiscal year that ended in June and warned state lawmakers of a looming budget deficit during the current year. The mid-year snapshot of state finances set the stage for a ...

Read More »

Stocks end mostly lower in quiet trade; oil prices decline

oil prices, financial markets, wall street

NEW YORK (AP) — Stocks closed slightly lower in quiet trading Monday after drifting most of the day between gains and losses. Energy companies fell along with the price of oil while biotechnology and drug companies rose after Pfizer announced it was buying a cancer drug maker. Trading remained subdued, as it has been for most of the month, with ...

Read More »

US rig count up 17 this week to 481, Texas up 13

oil rig, rig count, Pixabay

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 17 this week to 481. A year ago, 884 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration. Houston oilfield services company Baker Hughes Inc. said Friday that 396 rigs sought oil and 83 explored for natural gas ...

Read More »

Global oil demand to cool, oversupply is ending, agency says

global oil production, oil oversupply

LONDON (AP) — Global demand for oil will grow less than expected next year due to a weaker world economy, though the oversupply of crude in the market is ending, the International Energy Agency said Thursday. The Paris-based agency, which consults oil-importing nations, lowered its forecast for demand growth next year to 1.2 million barrels a day from 1.3 million ...

Read More »