Oil and Gas Deal Activity Drops Nearly 15% in February

Oil Prices

February was a difficult month for the energy sector, as winter storms battered many areas across the country. Some of the most notable effects of the storm were seen in Texas, where much of the U.S. energy industry is located. A new report from Offshore Technology now shows how much the impact these storms had …

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Oil to Get Greener, Faster as Climate Change Policy Shifts

One of the stated goals of President Biden’s administration has been the push for more clean energy policies which are focused on reducing the effects of climate change. This can be seen in his immediate rejoining of the Paris climate agreement, along with his assignment of former Secretary of State John Kerry to the newly …

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New European Lockdowns Snap Oil’s Win-Streak

Oil prices have been quite tumultuous during the Covid-19 pandemic, with demand hitting record lows across the globe. However, recent attempts at recovery have helped prices climb back to more stable levels. Now, rising cases of Covid-19 and a new set of lockdowns in Europe has ended oil’s three-day win-streak and raises new concerns over …

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Oil Prices Expected to Struggle in the Fourth Quarter

Earlier this year, oil prices saw a substantial fall due to a lack of demand caused by Covid-19 and trade disputes between OPEC and Russia. While prices have begun to stabilize, it isn’t expected that they’ll see all that large of an increase in the fourth quarter. Going into the winter, analysts see prices for …

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Oil Prices Drop Again Over Demand Fears

Oil prices have had a rather shaky year so far. The combination of the Covid-19 pandemic and the past trade disputes between OPEC and Russia caused prices to drop to decade lows, before slowly beginning to recover. Now, prices have seen another drop as concerns over demand flare up once more. On Tuesday, West Texas …

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Major Oil Producers Report Negative Second Quarter Results

The oil industry is one of the many different industries which has been hit hard by the COVID-19 pandemic. A reduction in travel demand, along with production disputes between OPEC and Russia earlier in the year meant there was a massive supply of oil with effectively no demand. While things have begun to stabilize elsewhere, …

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Oil Prices Climb Based On Economic Data Support

Oil has remained a delicate market due to the COVID-19 pandemic and issues with overproduction. However, in a rather volatile session on Thursday, oil prices continued to climb based upon economic data indicating improvements in the U.S. economy. Brent crude, which is used as the global benchmark, rose by 1.7%, or 70 cents, to $41.01 …

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Oil Drops Over 10% In Wake Of Second Virus Wave Fears

The oil industry has been one of the most drastically impacted by the COVID-19 pandemic. After a drastic decline, recently the sector has shown signs of recovery. However, fears over a second wave of outbreaks have resulted in a new round of drops. On Thursday of last week, oil prices fell by over 10% after …

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Oil Prices Drop Yet Again

Last week, oil prices saw a substantial drop-off, before beginning a climb back to more-positive values. However, this growth didn’t last. In fact, many experts anticipate these prices could continue to slip yet again in the upcoming weeks. Both U.S. and international oil prices have been in flux all throughout the week. Last Monday, West …

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