After the historically low temperatures across the south this week, it may take weeks for some of the largest refineries in the country to get back up to full production.
Read MoreHow Long Will the Major Refineries be Closed?
Wyoming Tax Break
Tuesday, The Wyoming legislature’s Joint Minerals, Business and Economic Development Committee has sponsored a bill proposing tax relief for oil and gas companies in a bid to stimulate an increase in production. The bill, if approved, calls for tax exemption on oil production until the price of WTI reaches $45 per barrel. A year ago, Wyoming produced […]
Read MoreAfter Yesterday’s Oil Market Slide, Today is the Turkey Turn Up
Let’s call today the Turkey Turn up rather than the dead cat bounce. Oil complex up slightly today after taking a huge turn down yesterday with WTI settling at $53.43/barrel, its lowest level since October 2017. Oil prices fell amid concerns about rising global supply and growing fear of a global synchronized economic slowdown.
Read MoreWhy U.S. Crude Oil Exporters are Not Happy Today
On Saturday OPEC and non-OPEC producers agreed to raise production by 1 million barrels per day (bpd). Perhaps more important than that, they agreed to return to 100% compliance of the previously agreed upon production cuts of 1.8 million bpd. Production was lagging from struggling countries, i.e., Venezuela, Angola and Libya which effectively equated to […]
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