Archives for April 2020
Oil dropped back below $15 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output. Source: FuelFix
Diamond Offshore Drilling, the rig contractor controlled by Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea. eConditions worsened “precipitously in recent months,” the...
The number of operating U.S. oil and gas rigs continued its steep declines this week, plunging by 64. Source: FuelFix