Oil Soars On Bullish EIA Inventory Report

By Irina Slav - May 20, 2020, 9:39 AM CDT

A week after it served a much-needed boost to markets with a crude oil inventory draw, today the Energy Information Administration strengthened the mood by reporting an oil inventory draw of 5 million barrels for the week to May 15.

Oil Jumps 11% On Signs Of Demand Recovery

By Tsvetana Paraskova - May 18, 2020, 10:00 AM CDT Join Our Community

U.S. benchmark oil prices surged by 11 percent early on Monday to a two-month high of over $32 a barrel amid signs of demand recovery and accelerated production cuts from all oil producers, making a repeat of last month’s negative WTI Crude prices a day before expiry increasingly unlikely.

North American oil producers slash output faster than OPEC skeptics expected

By Jessica Resnick-Ault

NEW YORK (Reuters) - North American oil companies have slashed production faster than skeptical OPEC officials and industry analysts expected, on course to cut roughly 1.7 million barrels per day by the end of June, according to a Reuters analysis of U.S. state and company data.

Oil companies warned about false Railroad Commission inspectors

Authorities and industry groups are warning oil companies warned about people falsely claiming to be inspectors with the Railroad Commission of Texas, the state agency that regulates the oil and natural gas industry.

Craddick opposes prorationing plans, Commissioner says RRC can use other methods

By Mella McEwen, MRT.com/Midland Reporter-Telegram

Published 8:49 pm CDT, Monday, May 4, 2020

After weeks of considering whether to implement statewide oil production cuts for the first time in 50 years, the Railroad Commission appears poised to vote “no” on the issue at Tuesday's public meeting.

Texas Oil Quotas ‘Dead,’ Says Regulator Who Touted Them

A lame-duck Texas regulator who proposed mandatory oil-output cuts said the effort is “dead” a day before the biggest U.S. crude-producing state was set to vote on the measure.

Texas Railroad Commission Will Consider An Oil Production Cut That Is Too Late To Matter

With news this morning that Chesapeake Energy is preparing to file for bankruptcy, The Texas Railroad Commission (RRC) will once again take up the concept of invoking prorationing on oil production at its conference on May 5.

For a While This Week, Oil Was Cheaper Than Dirt. Should We Be Worried?

Producers, who failed to anticipate how quickly storage would fill up this month, are now scrambling to turn off the taps—at least those who can.

U.S. Oil Costs Less Than Zero After a Sharp Monday Selloff, Many traders are betting that the coronavirus pandemic will run its course and demand for oil will jump later this year

Many traders are betting that the coronavirus pandemic will run its course and demand for oil will jump later this year

Texas Oil Regulator Poses the Fundamental Question: “How Do We Start?”

After taking more than 10 hours of verbal testimony from more than 50 witnesses at Tuesday’s hearing, the three members of the Texas Railroad Commission tabled any decision on whether to move to limit oil production from Texas wells through its power of prorationing. During the course of the hearing, Commissioner Christi Craddick hit on the fundamental impediment that will likely prevent the RRC from any quick implementation of limits: There is no institutional memory on how to do it.