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US Oil Drillers Cut Rigs For First Week In Three
Despite U.S. oil drillers cutting eight rigs in the week to Jan. 4, according to Baker Hughes, the rig count in the United States is still much higher than a year ago.
Saudi Arabia Reports Rise In Oil Reserves After Independent Audit
Saudi Arabia's reserves of easily recoverable oil have long been the world's largest and despite almost 30 years of rising production have consistently remained around 261 billion barrels.
Shale Producer Chesapeake Energy’s Output Tops Expectations
Chesapeake Energy also revealed that output growth from the Powder River Basin and Eagle Ford Shale has made up for the sale of its Utica assets.