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Top News & Analysis North Dakota

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  • LONDON, April 20- Despite the surge in U.S. oil prices, hedge funds are still divided about what will happen next, according to the latest data from the Commodity Futures Trading Commission. Front-month futures prices have already jumped by $14 per barrel, 33 percent, over the past month and are now trading at $56 per barrel. Posted prices in North Dakota's Bakken...

  • The assumption is that oil firms will finish work on those wells, known as "ducks" in the industry jargon, once oil prices recover further and North Dakota activates its tax relief in response to a long market slump. "You know you have an 800- pound gorilla that is potentially going to come after you if the price goes up," Jackson Hockley, an analyst at wealth manager...

  • WASHINGTON, April 17- The U.S. government would get a larger share of oil and gas revenue from federal land under a proposal announced by the Interior Department on Friday. Reforms will "ensure that American taxpayers receive a fair return from energy resources developed on their public lands," Neil Kornze, director of the Interior Department's Bureau of Land...

  • WASHINGTON, April 17- The U.S. government would get a larger share of oil and gas revenue from federal land under a proposal the Interior Department is expected to announce on Friday. But most of that production is on private land in energy patches like North Dakota's Bakken or the Eagle Ford fields of Texas. Specifically, the Interior Department is considering...

  • SAN FRANCISCO, April 16- California imports of Bakken crude oil from North Dakota on barges totaled a record 1.5 million barrels last year, 27 percent greater than the amount that reached the state by rail, the California Energy Commission told Reuters on Thursday. To get the low-cost Bakken crude to California refineries, producers load it onto trains in North...

  • *OPEC March output surges 810,000 bpd on Saudi, Iraq boost. NEW YORK, April 16- Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen. "The report on Al Qaeda forces taking over facilities in Yemen sent prices up," said Phil Flynn, analyst...

  • *OPEC March output surges 810,000 bpd on Saudi, Iraq boost. But on Thursday, OPEC said in its monthly report that its own output surged by 810,000 barrels per day in March, even as low prices start to weigh on U.S. production. "There is some profit taking, but the confirmed OPEC production increase... has to weigh on prices to some degree," said John Kilduff, partner at Again...

  • Energy company eyes Washington state port for new project Wednesday, 15 Apr 2015 | 9:40 PM ET

    SAN FRANCISCO, April 15- Riverside Refining LLC is developing an energy infrastructure project for the Pacific Northwest and is considering Washington State's Port of Longview as a potential location for it, the company's CEO said on Wednesday. Separately on Wednesday, environmental group Columbia Riverkeepers released documents it had obtained through...

  • *U.S. crude futures hit 2015 peak, May Brent heads to expiry. NEW YORK, April 15- Oil futures rallied and U.S. crude rose 5 percent to a 2015 peak on Wednesday after government data showed crude oil inventories in the United States rose less than expected last week. Expiring front-month May Brent rose $1.22 to $59.65, having reached $59.95.

  • COLUMN-Iran's tantalizing oil prize: Kemp Wednesday, 15 Apr 2015 | 11:14 AM ET

    LONDON, April 15- Iran contains some of the largest and most attractive petroleum resources in the world, so any easing of sanctions could have a major impact on oil and gas markets in the second half of the decade. Iran's possible re-emergence as a major exporter would force a re-ordering of the world oil market both because of the country's location on the...

  • *OPEC production surges to 31.02 mln bpd- IEA. LONDON, April 15- Oil prices jumped more than a dollar on Wednesday after a lower than expected build of crude oil stocks in the United States. Crude stocks there rose 1.29 million barrels to 483.69 million barrels in the week to April 10, the U.S. Energy Information Administration said on Wednesday, against a forecast of a...

  • LONDON, April 15- Brent crude oil prices rose on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency indicating that supplies would take longer to tighten than previously expected. Front-month Brent crude futures were up 53 cents at $58.96 per barrel by 1124 GMT,...

  • LONDON, April 15- Brent crude oil prices rose above $59 a barrel on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency indicating that supplies would take longer to tighten than previously expected. Front-month Brent crude futures were up 68 cents at $59.11 per...

  • *Net outflow of oil investments expected soon- Barclays. Front-month Brent crude futures were up a dollar at $59.43 a barrel by 0705 GMT, while U.S. crude climbed 65 cents to $53.69. In the United States, North Dakota's February oil production fell 15,000 barrels per day versus January, although the number of producing wells hit a record high.

  • Front-month Brent crude futures were trading up 47 cents at $58.90 a barrel by 0310 GMT, while U.S. crude was up 28 cents at $53.57. In the United States, North Dakota's February oil production fell 15,000 barrels per day versus January, although the number of producing wells hit a record high. On a quarterly basis, China's economic growth slowed to 1.3 percent...

  • NEW YORK, April 14- Crude oil futures rose on Tuesday on signs of falling U.S. oil production, weakness in the dollar and tensions in the Middle East, particularly Yemen. "Today's led crude spike was spurred primarily by supportive supply side headlines suggesting a quicker production response to rig declines than previously anticipated," said Jim Ritterbusch,...

  • *North Dakota oil production fell in February vs January- state. NEW YORK, April 14- Crude oil futures rose on Tuesday on signs of falling U.S. oil production, weakness in the dollar and tensions in the Middle East, particularly Yemen. The North Dakota report arrived a day after the U.S. Energy Information Administration said it expected U.S. shale production to fall...

  • UPDATE 1-Wells Fargo profit falls as expenses rise Tuesday, 14 Apr 2015 | 8:32 AM ET

    April 14- Wells Fargo& Co, the largest U.S. mortgage lender, reported a 2.6 percent fall in quarterly profit as expenses rose and the bank set aside more money to cover bad loans. Wells Fargo set aside $608 million in the first quarter ended March 31, an increase of about 87 percent from the same quarter a year earlier. Net income applicable to Wells Fargo's common...

  • NEW YORK, April 13- Oil production from the fastest-growing U.S. shale plays is set to fall some 45,000 barrels per day to 4.98 million bpd in May from April, the first monthly decline in over four years, projections from the U.S. Energy Information Administration showed on Monday. Oil production from the Permian Basin of West Texas and New Mexico were forecast to...

  • Where Big Oil is cutting back Thursday, 9 Apr 2015 | 3:49 PM ET
    Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico.

    The crash in oil prices has led to huge cuts in investment in spending on new exploration and production.