US tops 11.3 million barrels per day for a record high in August, becoming the ‘World’s largest oil producer’
Monthly U.S. oil production hit a record high in August, making the nation the world’s largest oil producer. New numbers from the federal Energy Information Administration show monthly production reached 11.3 More...
Global Oil Execs Predict Steady Rise in Crude Prices during Balance of 2016
During a recent speech at the Economic Club of Washington D.C., BP chief executive Bob Dudley echoed the sentiments of other global oil leaders, predicting that the crude oil prices which have been sitting at historic More...
New Data Generates Robust Petroleum Rally
On Wednesday April 6, the Energy Information Administration released its estimate of petroleum inventories and to the surprise of most in the market, they reported a large draw of crude oil. The draw cannot be completely More...
Oil levels down as the prices soar
The severe drop in the oil prices at the end of 2015 which continued into the mid of January 2016 caused the Gulf economies to panic. The investors were worried about their investments in the oil companies. The More...
Oil, black gold, Texas Tea: it all started with a gusher on this day in 1901
The Lucas Gusher of January 10, 1901 was the first “major” gusher of the Texas oil boom. Spindletop is in Beaumont, Texas became the epicenter, generating 100,000 barrels a day and have ties to the origins More...
