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Nine U.S. Oil Rigs Sidelined This Week, Baker Hughes Says
U.S. oil producers this week idled nine drilling rigs that were aimed at crude reservoirs, bringing the number of oil rigs sidelined since late August up to 70, Baker Hughes said Friday. The nation’s oil and gas rig count has fallen to 795, down 14 since last week and down by 1,135 since this time last year, as low oil prices have forced producers to cut back on drilling budgets. Full investment news article
Oil Industry Wins Big Victory As House OKs Crude Exports
The House passed legislation authorizing widespread crude exports on Friday, delivering a major victory to energy companies lobbying for the freedom to sell oil around the world. But their success may be short-lived, because getting the trade policy change through the House was actually the easy part. Full investment news article