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Tag Archives: West Texas Intermediate

Ultra-light condensate could be niche for West Texas rail

HOUSTON, July 1 (Reuters) – A surge in West Texas oil pipeline startups and expansions has squeezed viability of some crude-by-rail terminals in the region, but increased output of ultra-light condensate could give them a niche pipelines cannot fill, a top rail operator in the region said on Wednesday. “The big topic used to be that there wasn’t enough takeaway ...

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Oil prices settle into new equilibrium: Kemp

pump jacks

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, July 1 (Reuters) – Benchmark crude oil prices have barely moved for more than two months, implying the market has found a temporary equilibrium after the enormous price shock in the second half of 2014 and early 2015. Over the last 30 trading days, the range ...

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Oil prices seen steady despite Greek crisis, Iran

June 30 (Reuters) – Oil prices are likely to be stable for the rest of this year and climb in 2016 and 2017 as global demand picks up, shrugging off setbacks from the Greek debt crisis and the possible lifting of sanctions on Iran, a Reuters poll forecast on Tuesday. The monthly survey of 31 analysts showed North Sea Brent ...

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Oil falls as market awaits Iran, Greece talks

LONDON (Reuters) – Oil prices fell on Friday as investors awaited the outcome of Iranian nuclear talks which could lead to a big increase in Iranian crude exports at a time when the market is already over-supplied. Dealers also kept an eye on negotiations to try to avert a Greek debt default and avoid Greece’s exit from the euro. A ...

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Oil holds above $64 before U.S. supply report, eyes on Iran

LONDON (Reuters) – Oil held above $64 a barrel on Wednesday before a U.S. government report expected to show domestic crude inventories fell for an eighth week, a sign that a supply glut is easing. The industry group American Petroleum Institute (API) on Tuesday reported a drop in U.S. crude stocks, ahead of Wednesday’s official data. Doubts over the likelihood ...

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Texas has suffered billions from oil price slump

We’ve seen the decimation of oil prices, most notably the loss of jobs and the reduction of new wells or new exponential increases in production. In the pursuit of quantifying the damage, a recent report found that Texas petro-wealth is down $33 billion from 2014’s observations. Blackbeard Data just released its 2015 Petro-Wealth report. In its summary, Blackbeard states that ...

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Permian Basin Drilling Report: Week of June 11-17, 2015

Permit applications approved by the Texas Railroad Commission for June 11 through June 17 for Districts 7C, 8 and 8A. Numbers in parentheses indicate the number of permits approved for that leasehold. — American Energy-Perm Basin, LLC, Ham B, Reagan, new drill (5). — Anadarko E&P Onshore, LLC, Elkhorn 54-1-44, Loving, new drill; Bitterroot 54-1-18, Loving, new drill; Old Partner ...

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North Dakota regulators plan hearing on proposed pipeline

oil pipeline

BISMARCK, N.D. (AP) — The North Dakota Public Service Commission has slated a public hearing in Stanley to take comments on a new crude oil pipeline. The hearing for the Bison Pipeline Project is being held Wednesday at 9 a.m. at the Stanley City Hall. Plains Pipeline is proposing the 10-mile-long, 8-inch diameter oil pipeline that’s designed to transport about ...

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Oil falls towards $63, ample supplies and Greece weigh

LONDON, June 19 (Reuters) – Oil fell towards $63 a barrel on Friday as concern over Greece and a forecast that U.S. shale oil output would keep growing this year countered signs of a pickup in demand. Greece has been less of a driver for oil than other markets such as equities, but analysts said the situation represented a bearish ...

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