Posts Tagged
shale
There’s One Place Where OPEC Can’t Broker an Oil Deal: Texas
©2016 Bloomberg News O2NZG96JIJV8 (Bloomberg) — Saudi Arabia and Russia have taken the first step to stem the slide in oil prices. There’s just one problem: If they are successful — and that’s a big if — the wildcatters of Texas, Oklahoma and North Dakota are waiting to pounce. With
Bloomberg Business: Steepest-Ever Drop in Oil Rigs Shows Shale Losing Fight to OPEC
Copyright 2015 Bloomberg. NIAO4Y6JTSEJ (Bloomberg) — U.S. drillers have taken a record number of oil rigs out of service in the past six weeks as OPEC sustains its production, sending prices below $50 a barrel. The oil rig count has fallen by 209 since Dec. 5, the steepest six-week decline