Energy News

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Texas economist says OPEC cut won't create global shortage AUSTIN, Texas, Jan. 5 (UPI) -- The OPEC-fueled market recovery hasn't been felt yet in Texas, where the energy sector appears to have bottomed out, an economist said. FULL STORY »

Oil prices move higher with more OPEC commitments NEW YORK, Jan. 5 (UPI) -- Additional commitment to an OPEC production agreement and a decline in U.S. inventories pushed crude oil prices higher in early Thursday trading. FULL STORY »    Iraq next to state commitment to OPEC cuts BAGHDAD, Jan. 5 (UPI) -- Iraq has started trimming crude oil production in a managed fashion in order to comply with an OPEC agreement, the oil minister said. FULL STORY »    U.S. oil and gas lobby calls for industry-led energy revolution WASHINGTON, Jan. 5 (UPI) -- The leading oil and gas lobbying group in the United States called on leaders in Washington to release the reins of regulation for the sake of the nation. FULL STORY »    Fire out at oil platform, U.S. Coast Guard says NEW ORLEANS, Jan. 5 (UPI) -- A fire reported early Thursday at an oil production platform is out with no indications so far of pollution in the Gulf of Mexico, the U.S. Coast Guard said FULL STORY »    Another North Sea production milestone STAVANGER, Norway, Jan. 5 (UPI) -- A field complex in the North Sea has passed a production milestone of 1 billion barrels of product, far more than expected, Aker BP said. FULL STORY »    Schlumberger continues acquisition trends HOUSTON, Jan. 5 (UPI) -- Oilfield services company Schlumberger said it continued where it left off last year with the acquisition of specialty company, Peak Well Systems. FULL STORY »