Brent, WTI prices rise in 2018, 2019, STEO projects

February 8, 2018 0

Brent crude oil spot prices will average roughly $62 a barrel in both 2018 and 2019 compared with an average of $54/Bbl in 2017, the Energy Information Administration projects in its just-released Short-Term Energy Outlook (STEO).

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Cushing crude stocks plunge to 3-year low

February 7, 2018 0

Crude oil stocks at Cushing, Okla., plunged by 13 million barrels (MMBbl) in January, falling to roughly 35 MMBbl — the lowest level in more than three years, PIRA Energy Group reported Tuesday.

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BP’s production grows the most since 2010

February 7, 2018 0

British oil supermajor BP reported Tuesday 12% upstream production growth in 2017 — the highest since 2010 — in what the company claimed to be one of the strongest years in its recent history, Kallanish Energy learns.

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Hess trims loss in fourth quarter

February 6, 2018 0

Exploration and production company Hess Corp. reported a fourth-quarter 2017 net loss of nearly $2.7 billion, which compares to a net loss of $4.9 billion in Q4 2016.

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