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Oil and Gas Oil and Gas Storage

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  • Are oil producers running out of closet space? Wednesday, 25 Feb 2015 | 5:51 PM ET
    Oil tanks and pump jacks are seen in an oil field near Bakersfield, Calif.

    Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.

  • Why rig cuts won't save oil: Goldman Tuesday, 10 Feb 2015 | 11:44 PM ET
    Idled oil well pump jacks sit in the yard at Wood Energy Inc. in Woodlawn, Ill, Jan. 20, 2015.

    The sharp drop in U.S. oil rig counts has helped lift crude prices off their lows, but it won't slow production or alleviate oversupply, Goldman said.

  • IEA: Shale is a game-changer Tuesday, 10 Feb 2015 | 11:20 AM ET
    IEA: Shale is a game-changer

    The International Energy Agency (IEA) has released a warning saying that the oil prices may continue to fall, as crude oil stocks increase. Maria van der Hoeven, executive director at IEA, discusses the findings, saying that the "future market will never be the same" as before.

  • Has oil hit bottom? Gartman says no Tuesday, 10 Feb 2015 | 5:50 AM ET
    Has oil hit bottom? Gartman says no

    Has the oil price finally hit a bottom? Dennis Gartman, founder and editor of the Gartman Letter, explains why it could fall to as low as $20 per barrel.

  • LONDON, Feb 9- Latin America's oil producers have become caught in the crossfire between OPEC and the North American shale drillers. The number of active land rigs has fallen sharply in OPEC members Ecuador and Venezuela as well as non-OPEC Bolivia, Colombia and Mexico. Even OPEC producers such as Petroleos de Venezuela and Petroecuador are being forced to cut...

  • Is this oil rally the real deal? Tuesday, 3 Feb 2015 | 11:33 PM ET
    A worker inspects valves and pipes at an oil gathering station in Russia.

    Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.

  • We haven't seen the worst in oil yet: Expert Tuesday, 3 Feb 2015 | 3:48 PM ET
    A worker inspects valves and pipes at an oil gathering station in Russia.

    A global oversupply in oil and lack of storage make it very likely that oil will slide into the $30s, Citi's Ed Morse told CNBC.

  • Hedge funds may be back in oil: Ex-Shell Oil chief Tuesday, 3 Feb 2015 | 9:11 AM ET
    Idled oil well pump jacks sit in the yard at Wood Energy Inc. in Woodlawn, Ill, Jan. 20, 2015.

    Hedge fund buying may be partly behind the recent rebound in battered oil prices, former Shell Oil President John Hofmeister tells CNBC.

  • Where is global oil money going? To health care Saturday, 31 Jan 2015 | 11:00 AM ET
    A gas flare is seen at an oil well site outside Williston, N.D.

    Oil prices are in the midst of a prolonged slump, squeezing bottom lines everywhere. How do sovereign wealth funds cope?

  • Oil traders to store millions of barrels at sea Tuesday, 13 Jan 2015 | 6:24 PM ET
    Oil tanker at the Port of Long Beach, Calif.

    Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea, to take advantage of lower prices.

  • Oil prices near 6-year lows: Analyst Tuesday, 13 Jan 2015 | 11:00 AM ET
    Oil prices near 6-year lows: Analyst

    The oil price is nearing a 6-year low. Richard Mallinson, geopolitical analyst at Energy Aspects, says markets are looking for "a turning point" in oil production and it will end up being non-OPEC countries that cut supplies.

  • China is stocking up on oil Tuesday, 13 Jan 2015 | 4:40 AM ET
    China is stocking up on oil

    Gareth Lewis-Davies, senior oil strategist at BNP Paribas, says that China is building up a strategic stock of oil, and that low prices provide a "good opportunity to dip into the market and accelerate purchases."

  • So long sacred cow! Gas tax builds momentum Saturday, 10 Jan 2015 | 11:03 AM ET
    The gas prices are advertised outside the Costco store in Westminster, Colorado, December 2, 2014.

    A twist of fate has made slumping gas prices fuel a discussion once thought to be anathema in a Republican-led Congress: higher gas taxes.

  • How to stem oil free fall Wednesday, 7 Jan 2015 | 4:00 AM ET
    How to stem oil free fall

    In order to stem the free fall in oil prices, one of three key things must be done, says Sabine Schels, a commodity strategist at BofA Merrill Lynch Global Research.

  • Bakken-Cushing pipeline project slammed shut Saturday, 13 Dec 2014 | 11:01 AM ET
    Tomco oil workers sands facility sign, oil field, oil pipeline

    Enterprise Products Partners is shelving a pipeline that would have transported crude from North Dakota to Oklahoma, the company said Friday.

  • US Air Force cleared to purchase civilian jet fuel Wednesday, 19 Nov 2014 | 2:16 PM ET
    A KC-135 Stratotanker from Fairchild Air Force Base, Wash., refuels a B-1B Lancer during a training exercise Sept. 23, 2014, over South Dakota.

    The US Air Force just completed an initiative to convert all of its bases from military-specific grade jet fuel to a civilian grade.

  • With energy boom, Philly becomes the new Houston Sunday, 16 Nov 2014 | 9:00 AM ET
    The Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania.

    Philadelphia is developing a new reputation as a nexus of oil and gas transportation, which bodes well for its economy.

  • Report: Energy firms' other kind of rigging—wages Saturday, 27 Sep 2014 | 9:46 AM ET

    Oil and gas firms are "routinely" underpaying their workers, according to an investigation from ProPublica.

  • Pickens: Natural gas prices are ready to rise Tuesday, 29 Apr 2014 | 1:23 PM ET
    Boone Pickens

    Nat gas prices are set to go higher, according to the chairman and CEO of energy-focused investment firm BP Capital.

  • Oil heads lower as Libya resolution appears near Wednesday, 2 Apr 2014 | 3:57 PM ET
    Oil fracking

    U.S. oil futures slipped further below the key $100 a barrel level, and international crude moved closer to U.S. prices as some geopolitical pressures eased.