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CLJ7 Future Quote - Crude Oil - Electronic Apr 2017 Future Price Today (CLJ7:NMN) - MarketWatch
 
Gas was $2.09/gal yesterday going home and this morning it is $2.35/gal. :eek:

Good thing I filled the tank yesterday.
 
[h=1]Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce :laugh:[/h] by Deon Daugherty
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Rigzone Staff
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Wednesday, March 22, 2017



Offshore energy companies ponied up more than $315 million in bids to lease 913,542 acres in the Gulf of Mexico off the coast of Louisiana, Mississippi and Alabama on Wednesday.

The lease sale is the final one in the GOM under the Obama Administration’s Five-Year Plan, which made available all offshore areas with the greatest resource potential from 2012 through 2017. The first 11 sales in the program netted more than $3 billion in bid revenue on almost 73 million acres for development, according to information from the Interior Department.
The top five bidders included major oil and gas companies:

  • Shell Offshore – $61 million
  • Statoil – $51 million
  • Chevron Corp. – $50 million
  • Hess Corp. – $44 million
  • ExxonMobil – $22 million
The Bureau of Ocean Energy Management (BOEM) said it offered 9,118 unleased blocks, covering 48 million acres, located from three to 230 nautical miles offshore Louisiana, Mississippi, and Alabama, in water depths ranging from nine to more than 11,115 feet.
“The Gulf of Mexico is one of the most productive oil and gas basins in the world, and its mature offshore and onshore infrastructure supports safe and responsible development of our domestic energy resources,” Secretary Zinke said.[more and more oil]

NEWS  |  Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce  |  Rigzone
 
Oil slides below $47 as withdrawal from climate deal sparks supply concerns

Published: June 2, 2017 6:34 a.m. ET

Losses deepened for oil prices on Friday, with crude oil falling below $47 as rising U.S. production and President Trump’s withdrawal from the Paris Climate Accord added to concerns of a persistent supply glut.
On the New York Mercantile Exchange, West Texas Intermediate crude futures for delivery in July CLN7, -2.17% slid $1.41, or 2.9%, to $46.95 a barrel, setting it on track for its lowest settlement price since May 12, according to FactSet data.
August Brent LCOQ7, -2.13% , the global benchmark, slid $1.51, or 3%, to $49.13 on ICE Futures Europe.
The losses on Friday extended a late-afternoon pullback on Thursday, which more than reversed gains triggered by a bigger-than-expected drop in U.S. inventories. The drop came as traders instead focused on rising U.S. output and Trump pulling the country out of the global climate deal, which could spur even higher U.S. production, analysts said.
“I see oil trading lower due to robust U.S. production, record export and rising production in Libya and Nigeria. We are just simply not seeing the rebalancing process progressing fast enough,” said Ole Hansen, head of commodity strategy at Saxo Bank, in emailed comments. [more]

Oil slides below $47 as withdrawal from climate deal sparks supply concerns - MarketWatch
 
Note:

I would like to formally apologize for a discussion I had earlier today with a coworker, on the subject of "Oil Price and Demand".

He is very right wing, and argued that price is down because of American production increase.

I argued that the price is down because demand has become less due to more strict EPA fuel economy standards.

After further investigation of the facts, I hereby declare that I WAS INCORRECT and that the bigger of the two influencers on oil prices is increased production.

I apologize for being wrong.

Signed- James48843, this 22nd Day of June, 2017.
 
[h=1]OPEC Moves To Cap Nigerian Oil Output, Boost Compliance[/h] by Reuters
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R. El Gamal, K. Golubkova & V. Soldatkin
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Monday, July 24, 2017

ST PETERSBURG, Russia, July 24 (Reuters) - OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices.
OPEC has agreed with several non-OPEC producers led by Russia to cut oil output by a combined 1.8 million barrels per day (bpd) from January 2017 until the end of March 2018.
OPEC states Libya and Nigeria were exempted from the limits to help their oil industries recover from years of unrest.
The deal to curb output propelled crude prices above $58 a barrel in January but they have since slipped back to a $45 to $50 range as the effort to drain global inventories has taken longer than expected.
Rising output from U.S. shale producers has offset the impact of the output curbs, as has climbing production from Libya and Nigeria.
A ministerial committee of OPEC and non-OPEC states that monitors the global oil pact said it had agreed Nigeria would join the deal by capping or even cutting its output from 1.8 million bpd, once it stabilises at that level from 1.7 million bpd recently.[more]

OPEC Moves To Cap Nigerian Oil Output, Boost Compliance  |  Rigzone
 
James48843 said:
Note:

I would like to formally apologize for a discussion I had earlier today with a coworker, on the subject of "Oil Price and Demand".

He is very right wing, and argued that price is down because of American production increase.

I argued that the price is down because demand has become less due to more strict EPA fuel economy standards.

After further investigation of the facts, I hereby declare that I WAS INCORRECT and that the bigger of the two influencers on oil prices is increased production.

I apologize for being wrong on EVERYTHING.

Signed- James48843, this 22nd Day of June, 2017.
Click to expand...
Jim, you are usually wrong on a lot of things..you should make this your blanket apology for everything
 
I don't think so!!!:suspicious:

Silicon Valley Wants to Help You Never Visit a Gas Station Again

by Bloomberg

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Claire Ballentine & Hailey Waller
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Friday, August 11, 2017



(Bloomberg) -- For Dana Dwyer, an Oracle Corp. employee and mom, a full tank of gasoline at the end of her workday is something she describes with just two words: “It’s happiness.”
Dwyer spends an hour each morning fighting through 20 miles of Bay Area traffic to get her child to school and herself to work. At night, “making one more stop to the gas station is the last thing I want to do,” she said in a telephone interview.
That’s music to the ears of Frank Mycroft, the chief executive officer of Booster, and competitor Michael Buhr, the CEO of Filld, startups created to deliver gasoline to customer’s cars at work or home. They face obstacles in the form of gas station mini-marts, community safety concerns and the rise of electric cars. But with time-constrained U.S. consumers paying $255 billion a year for auto fuel, the two Silicon Valley entrepreneurs say they have room to grow, and they’re getting the financial backing to prove it.
“This is not just Uber for gas, this is reinventing the entire supply chain,” said Mycroft, whose Booster service is used by Dwyer through a contract with Oracle. “We cut out the middleman and deliver gas directly to consumers,” trimming costs by buying directly from oil companies.
Booster, which focuses on partnering with large companies, also fills up cars at Facebook Inc. and PepsiCo Inc. facilities. Filld, meanwhile, is more focused on reaching individual consumers, though it has Volvo and Bentley on board as corporate clients. Both fuel-startups are based in Silicon Valley.
Added Financing [more]

Silicon Valley Wants to Help You Never Visit a Gas Station Again  |  Rigzone

 
nnuut said:
I don't think so!!!:suspicious:

Silicon Valley Wants to Help You Never Visit a Gas Station Again

by Bloomberg

|
Claire Ballentine & Hailey Waller
|
Friday, August 11, 2017



(Bloomberg) -- For Dana Dwyer, an Oracle Corp. employee and mom, a full tank of gasoline at the end of her workday is something she describes with just two words: “It’s happiness.”
Dwyer spends an hour each morning fighting through 20 miles of Bay Area traffic to get her child to school and herself to work. At night, “making one more stop to the gas station is the last thing I want to do,” she said in a telephone interview.
That’s music to the ears of Frank Mycroft, the chief executive officer of Booster, and competitor Michael Buhr, the CEO of Filld, startups created to deliver gasoline to customer’s cars at work or home. They face obstacles in the form of gas station mini-marts, community safety concerns and the rise of electric cars. But with time-constrained U.S. consumers paying $255 billion a year for auto fuel, the two Silicon Valley entrepreneurs say they have room to grow, and they’re getting the financial backing to prove it.
“This is not just Uber for gas, this is reinventing the entire supply chain,” said Mycroft, whose Booster service is used by Dwyer through a contract with Oracle. “We cut out the middleman and deliver gas directly to consumers,” trimming costs by buying directly from oil companies.
Booster, which focuses on partnering with large companies, also fills up cars at Facebook Inc. and PepsiCo Inc. facilities. Filld, meanwhile, is more focused on reaching individual consumers, though it has Volvo and Bentley on board as corporate clients. Both fuel-startups are based in Silicon Valley.
Added Financing [more]

Silicon Valley Wants to Help You Never Visit a Gas Station Again *|* Rigzone
Click to expand...

Interesting article. Not something I would use unless maybe the gas was really cheap.
 
Where Did the Oil, Gas Workers Go?

by Valerie Jones
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Rigzone Staff
|
Wednesday, August 09, 2017

Trying to recoup after a layoff can be tough enough in itself, but for those who have been laid off from oil and gas, an industry that ebbs and flows constantly, questions often arise of whether professionals should take their talents elsewhere.
As Rigzone explored in its first story about the oil and gas industry’s departed workers, 38 percent of respondents said they were currently unemployed, having most recently worked in oil and gas. More than half of those people were laid off. While opportunities for work, specifically in drilling and oilfield services, were sparse during the downturn, it forced some people to find opportunities in other industries outside of oil and gas. Of the survey’s more than 1,500 respondents, about 17 percent reported they are currently employed outside of oil and gas.

Unemployed-and-laid-off-from-oil-and-gas.png
[MORE}

Where Did the Oil, Gas Workers Go?  |  Rigzone
 
LOOKIN' GOOD!:D

[h=1]U.S. Oil Drillers Keep Pressure on OPEC With Record Shale Output[/h] By Catherine Traywick
August 14, 2017, 5:07 PM EDT August 15, 2017, 12:01 AM EDT

VIDEO:

Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices.
The gain is being led by the oil-rich Permian basin of Texas and New Mexico, where production has risen steadily over the past two years. The Energy Information Administration projects Permian output to rise by 64,000 barrels in September, reaching a record of 2.6 million barrels a day.




The forecast comes just as Saudi Arabia and Iraq, the two biggest producers of the Organization of Petroleum Exporting Countries promised to strengthen their commitment to cutting production. Crude output in the U.S. meanwhile has climbed in nine of the last 10 months. Prices declined to a three-week low Monday as the growing U.S. output and signs of lower demand from China stoked concern that a global oversupply will linger.[more]

https://www.bloomberg.com/news/arti...eep-pressure-on-opec-with-record-shale-output
 
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