U.S. Shale Ignores OPEC’s Warning: Oil Rig Count Soars By 10
http://oilprice.com/Energy/Crude-Oil...ars-By-21.html
Are Gulf Oil Producers Falling Into The ‘Venezuela Trap’?
http://oilprice.com/Energy/Energy-Ge...uela-Trap.html
The United States oil and gas rig count jumped by 15 this week, to its highest level since September 25, 2015, according to Baker Hughes’ latest report on domestic drilling activity.
The number of oil and gas rigs currently active in the United States now sits at 824, which is an increase of 374 year over year.
The number of oil and gas rigs currently active in the United States now sits at 824, which is an increase of 374 year over year.
Are Gulf Oil Producers Falling Into The ‘Venezuela Trap’?
Oman has struck a deal with several banks for a $4 billion loan to be repaid in future oil deliveries. Abu Dhabi signed a contract with commodity trading giant Vitol to supply it with over half a million tons of liquefied petroleum gas annually over the next decade in exchange for an upfront payment. According to the Wall Street Journal, other Middle Eastern producers are also considering oil-for-loan schemes, desperate for cash as oil prices stubbornly refuse to go up to the levels they need.
Will these producers fall into the trap that has already claimed Venezuela?
Will these producers fall into the trap that has already claimed Venezuela?
Comment