Tags » Oil News
- Bloomberg Article: Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts
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U.S. oil this month dropped below $50 a barrel for the first time this year as the nation’s near-record crude stockpiles and increasing production weighed on the output reductions by the Organization of Petroleum Exporting Countries and its allies.
- Bloomberg article: Citi Tells Investors to Stop Worrying and Learn to Love Oil
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Buy oil now, and count on Saudi Arabia for support, according to Citigroup Inc.
With the upcoming Presidential elections, many companies in the oil and gas industry are fighting to keep the Obama administration’s plan in operation. Three national groups representing the energy manufacturers and associated businesses have written a letter to President Barack Obama asking oil and gas lease sales in the Beaufort and Chukchi Seas, the Central and Western Gulf of Mexico and parts of the Eastern Gulf, to still be part of the 2017-22 U.S. 226 more words