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Baker Hughes Inc

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  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Coming up: Baker Hughes weekly U.S. rig data. SINGAPORE, May 22- Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. West Texas Intermediate for July delivery was at $60.61 a barrel by 0452 GMT, down 11 cents on the day but poised to post gains for the...

  • Oil edges down but WTI set for record 10th week of gains Thursday, 21 May 2015 | 10:50 PM ET

    *Coming up: Baker Hughes weekly U.S. rig data. SINGAPORE, May 22- Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. July Brent crude fell 23 cents to $66.31 a barrel by 0246 GMT after closing up 2.3 percent on Thursday.

  • WASHINGTON, May 21- The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, but the underlying trend continued to point to a rapidly tightening labor market. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 274,000 for the week ended May 16, the Labor Department...

  • *Weekly jobless claims rise 10,000. WASHINGTON, May 21- The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, but the underlying trend continued to suggest the labor market was tightening. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 274,000 for the week...

  • Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 274,000 for the week ended May 16, the Labor Department said on Thursday. A Labor Department analyst said there was nothing unusual in the state-level data and no states had been estimated. Outside the energy sector, which has lost thousands of jobs so far this year as...

  • WASHINGTON— If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy. At $2.71 a gallon, the average price of gas nationwide is nearly $1 lower than it was a year ago. Consider what Federal Reserve Chair Janet Yellen said in December: Lower gas prices, Yellen declared, are "certainly good for...

  • *Iran says OPEC output cut unlikely. LONDON, May 18- Oil prices rose on Monday after Islamic State militants said they had seized control of the key city of Ramadi in western Iraq, raising fears of deeper turmoil in the oil-producing country. Analysts nevertheless said oil markets remained oversupplied, and that the glut could worsen if U.S. production picked up...

  • NEW YORK, May 15- Top U.S. hedge fund managers made contrasting bets on energy companies in the first quarter, with Greenlight Capital's David Einhorn sticking with names pummeled by falling oil prices, while Hayman Capital's Kyle Bass bet on frackers, regulatory filings showed on Friday. Einhorn's $11 billion Greenlight Capital increased its stake in Consol...

  • US oil and natural gas rig count drops by 6 to 888 Friday, 15 May 2015 | 1:40 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by six this week to 888.. Houston- based Baker Hughes said Friday that 660 rigs were seeking oil and 223 explored for natural gas. Among major oil- and gas-producing states, Texas lost six rigs, Wyoming declined by two and Alaska, Arkansas,...

  • *OPEC pumps 2 million bpd more than needed. *Coming Up: Baker Hughes oil rigs data at 1700 GMT. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at Commerzbank in Frankfurt, told the Reuters Global Oil Forum.

  • UPDATE 5-Oil falls below $66 as global glut builds Friday, 15 May 2015 | 9:38 AM ET

    *OPEC pumps 2 million bpd more than needed. *Coming Up: Baker Hughes oil rigs data at 1700 GMT. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at Commerzbank in Frankfurt, told the Reuters Global Oil Forum.

  • *OPEC pumping 2 million bpd more than needed. *Coming Up: Baker Hughes oil rigs data at 1700 GMT. "A mood change is in the air," Eugen Weinberg, global head of oil and commodities research at Commerzbank in Frankfurt, told Reuters Global Oil Forum.

  • *Coming Up: Baker Hughes weekly oil rigs data. June West Texas Intermediate futures were down 17 cents at $59.71 a barrel as of 0437 GMT. July Brent crude fell 17 cents to $66.53 a barrel.

  • NEW YORK, May 14- After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the industry. For him, it is maybe two more projects and then retirement beckons, with a holiday home in Maine that needs work. Industry data show energy firms have cut at least 125,000 jobs worldwide since crude...

  • May 13- Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June. Houston- based Schlumberger also said last month that it plans to cut another 11,000 jobs, bringing the total job cuts...

  • NEW YORK, May 12- The U.S. government on Tuesday lowered its 2015 and 2016 crude oil production growth forecasts amid lower prices and fewer active drilling rigs. OPEC cut its forecast for the growth in U.S. oil output this year by 40,000 bpd to 700,000 bpd. It left the estimate for all non- OPEC countries' supply growth unchanged.

  • OSLO, May 12- Oil services firm Subsea 7 plans to cuts its workforce by close to 20 percent and reduce its fleet of 39 vessels by up to 11 as global oil and gas firms continue to cut spending after a plunge in crude oil prices dampened activity levels. Subsea 7, which focuses on the North Sea but has a global operation, expects to cuts it workforce by around 2,500 by early...

  • *Permian Basin rig count up for first time in 2015- Baker Hughes. NEW YORK, May 11- Oil came under pressure on Monday on signs a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies. U.S. crude futures were down 49 cents at $58.90 a barrel by 11:48 a.m. EDT.