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Tag Archives: West Texas Intermediate

Enbridge mid-month apportionment adds to Canada crude woes

Canadian pipeline operator Enbridge Inc is rationing space for mid-month on its line 4/67 ex Kerrobert for August, according to a notice to shippers on Monday that was seen by Reuters. Line 4/67, which is a part of its mainline system, would be apportioned by an additional 5 percent for August, the notice said. The company said on July that ...

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U.S. oil drillers add rigs even as prices dive anew – Baker Hughes

Aug 14 (Reuters) – U.S. energy firms added oil rigs for a fourth straight week, according to data that highlights how a period of stable prices earlier this summer lulled some drillers into stepping up spending just before a second oil market slump. Reflecting plans announced in May and June, when U.S. crude futures averaged $60 a barrel, drillers added ...

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US shale firms turn to private equity as market funding tails off

(Repeats with no changes to text) HOUSTON, Aug 14 (Reuters) – A renewed slide in crude prices is having the effect U.S. energy sector dealmakers and private equity managers have been looking for: oil companies are now returning calls from potential buyers. Throughout much of the crude market rout that started in mid-2014 oil firms could rely on generous capital ...

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Bakken crude: Could pipelines replace the need for oil-by-rail?

The transportation of Bakken crude is beginning to shift away from the railways and into pipelines as production levels off in the wake of last year’s price collapse and more oil and gas pipelines are brought online. Rusty Braziel, analyst with RBN Energy, explained, “Since 2012 a combination of rail and pipeline has given Bakken producers ample crude takeaway capacity, ...

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COLUMN-Oil market adjustment is about more than just shale: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, Aug 13 (Reuters) – U.S. shale oil production amounted to just 5 million barrels per day (bpd) at the end of 2014, less than 6 percent of world production and consumption. Despite the shale sector’s small market share, it has disrupted the entire oil industry because ...

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Helms: Bakken core still profitable

North Dakota Department of Mineral Resources Director Lynn Helms, the state’s top oil regulator, says drilling is still very profitable in the Bakken’s core of Dunn, MnKenzie, Mountrail and Williams counties. As reported by the Williston Herald, Lynn Helms said these core counties were home to more than half of last Thursday’s 73 active drilling rigs. Despite the current average ...

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Oil market rebalancing has begun, will take time: IEA

LONDON (Reuters) – World oil demand is growing at its fastest pace in five years thanks to rebounding economic growth and low prices, but global oversupply is so great that it will last through 2016, the West’s energy watchdog said on Wednesday. The International Energy Agency (IEA) said oil supply was continuing to grow “at a breakneck pace” but U.S. ...

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Brent inches up above $50 ahead of U.S. oil stocks data

SINGAPORE – Benchmark Brent crude oil prices inched up just above a key support level of $50 on Wednesday, recovering from multi-month lows, as investors await U.S. oil inventories data to gauge supply. Oil markets paused for a breather after prices tumbled about 20 percent in July because of a supply glut. OPEC continued to pump at record rates in ...

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