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Crude inventories fall again; gasoline stockpiles rise

Click HERE to Read the Article by the Publisher. Crude oil stockpiles fell for the fourth consecutive week, declining by nearly 2 million barrels last week, the Energy Department reported Wednesday. Gasoline inventories, however, rose 2 million barrel last week.  Both crude and gasoline stockpiles remain at historically high levels. Demand, meanwhile, remains strong. Over the past month, average gasoline…

Oil futures surge after OPEC agrees on need for output cap

Written by Myra P. Saefong Click HERE to Read the Article by the Publisher. Oil futures settled with a bang on Wednesday, hitting their highest level in about three weeks, following news that the Organization of the Petroleum Exporting Countries had agreed on the need to cap crude production. Members of the oil group were considering a production limit of…

Texas energy companies tell Dallas Fed business is good, 2017 might be better

Written by Jeffrey Weiss Click HERE to Read the Article by the Publisher. The Dallas Federal Reserve Bank released its quarterly Energy Report today. It's the result of a survey of 154 Texas energy businesses taken  Sept. 14-22. Of the respondents, 70 were E&P firms and 84 were O&G support services firms. The broadest measure, the business activity index, shows…