Houston oilfield services company Baker Hughes Inc. said Friday that 602 rigs sought oil and 151 explored for natural gas this week. Alaska and Louisiana each lost two rigs and North Dakota declined by one. Arkansas, California, Colorado, Kansas, New Mexico, Ohio, Oklahoma, Pennsylvania, Utah and West Virginia were all unchanged.
Houston oilfield services company Baker Hughes Inc. said Friday that 597 rigs sought oil and 153 explored for natural gas this week. Louisiana lost three rigs, New Mexico declined by two and Alaska, North Dakota and Oklahoma each lost one. Arkansas, California, Colorado, Kansas, Ohio, Pennsylvania, West Virginia and Wyoming were all unchanged.
Oil prices rose after news that OPEC members' initial compliance with last year's landmark production cut deal reached a record high.
After more than a decade of stock underperformance, investors and analysts are ready for a turnaround — and GE continues to promise one.
Oil and gas mergers, acquisitions and IPOs surged in the second half as crude prices stabilized, PwC reports.
Shares of General Electric edged lower after the company reported mixed earnings results.
The pain in the U.S. energy sector — the biggest job cutter in both 2015 and 2016 — appears to be easing, according to recent data.
Oil fell below $55 as higher Libyan output threatened to counter some of the supply cuts planned by OPEC.
The oil market is waiting to see whether U.S. production from shale fields will grow enough to offset planned output cuts by OPEC.
Oil prices were stable as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts.
The stock market is "pretty savvy" about discounting the likelihood of major events, investment banking co-head John Waldron tells CNBC.
OPEC's deal and Trump's election are boosting oil prices. These stocks should be big beneficiaries, says Andy Lipow.
Oklahoma City-based Devon Energy, for one, leaped more than 13.5 percent in morning trade.
Prime Minister Haider al-Abadi told reporters Iraq is willing to cut its crude oil output as part of OPEC's plan to reduce global supply.
Oil prices eked out gains as hopes that OPEC might agree to limit production cuts at the end of the month boosted sentiment.
America's oil field workers already took a hit last year. This year, they're taking another one, and worse.
Oil fell on the prospect of another year of oversupply and weak prices overshadowed chances that OPEC will reach a deal to cut output.
Employment in the industry is holding steady in recent months after falling throughout 2015 and the first part of 2016.
The merger of Baker Hughes and GE Oil & Gas creates a new type of oilfield services firm that defies easy comparisons to peers.
If oil prices plunge between now and 2019, the economics for the GE-Baker Hughes deal will "fall apart," says Albert Fried and Company's Sachin Shah.