As crude’s crash punishes Venezuela, calls for OPEC help grow
Brent oil in London has dropped more than 60 percent since November 2014, when OPEC decided to refrain from cutting output in the face of a global oversupply in an effort to defend market share.
View ArticleGoldman predicts oil to remain below $40 through mid-2016
Analysts believe the two-day bounce isn’t likely the start of big, lasting reversal.
View ArticleDistress in the oil patch is spurring a new type of joint venture
Joint ventures between oil and gas explorers in the U.S. and their foreign counterparts helped fuel the shale boom. They’re coming back in a new iteration for the bust.
View ArticleRystad: $230 billion in oil projects mothballed because of cheap crude
That’s 38 percent higher than Rystad’s previous estimate last July, and the number of projects that have been delayed since then has risen from 40 to 63.
View ArticleExxon Mobil cutting spending, but could still boost output 250,000 barrels a day
The oil company lost money in U.S. oil production, reporting a $538 million net loss in the fourth quarter as its regional production earnings fell by $2 billion.
View ArticleT. Boone Pickens cashes out on oil, awaits time to get back in
Pickens has sold all his oil holdings and is waiting for the best moment to get back in, he said Thursday in an interview on “Bloomberg Go.”
View ArticleLinn Energy considers filing for bankruptcy amid financial strain
Linn, which borrowed billions of dollars to expand during the height of the shale oil boom, saw its stock value sink below $1 a unit for the first time in January.
View ArticleCash-strapped drillers face deeper financial problems amid cuts
Domestic oil explorers with high levels of debt will struggle the most this year if they’re forced to cut spending and give up cash from new oil production.
View ArticleShell to end sponsorship of Houston Open
Royal Dutch Shell will end its title sponsorship of the Houston Open golf tournament after more than a quarter century, the oil company said Wednesday, blaming the energy-market crash that is forcing...
View ArticleTaking toll of oil’s continued slump
Over the past 15 month, oil and gas companies have written off $200 billion in assets, according to data analysis firm IHS Energy. While $200 billion may seem like a big number, consider the cumulative...
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