OPEC keeps oil production at high levels amid price gap
OPEC ministers decided to maintain current output well above the 30 million barrel daily ceiling. Iran plans a partial return to the market with an extra 500,000 barrels daily as Indonesia reenters OPEC, while Iraq resumes rapid growth and readmission expands the cartel to 13 members. Oil prices fell about 2.7 percent to $39.99 per barrel.
MENTIONED IN THIS ARTICLE
Vienna
OPEC
Organization of the Petroleum Exporting Countries
Iran
Amir Hossein Zamaninia
Bijan Namdar Zanganeh
Iraq
Indonesia
U.S
Oil patch suffers as U S economy shows progress
The November jobs report shows a booming overall economy with 211000 new jobs and a 5 percent unemployment rate, while the oil and gas sector shed 11300 positions as oil prices collapse from 107 to 40 dollars a barrel. Wages for energy workers fell 15 percent to 26.72 an hour as production slows. Analysts warn the downturn may persist for months, with prices likely to dip further and fewer incentives to drill.
MENTIONED IN THIS ARTICLE
U.S
OPEC
New York Stock Exchange
Ken Medlock
Rice University
Center For Energy Studies
Houston
Medlock
Temperature goal debate marks key climate talks
In Paris talks small nations push for 1.5 C as vital for survival, citing sea level rise and crop loss while larger nations seek realism in a 2 C limit. Scientists warn any guardrail remains imperfect, yet 1.5 C could shield reefs and reduce extreme weather risks.
MENTIONED IN THIS ARTICLE
Paris
Earth
Marshall Islands
Tuvalu
St. Lucia
James Fletcher
Sustainable Development
Energy
Science, and Technology
Chris Field
Carnegie Institution
Permian Basin rig count slips as activity stays weak
Baker Hughes shows Permian Basin oil and gas producers active with four fewer rigs, bringing regional total to 217, less than half of last year. Nationally seven rigs were released for a total of 737. oil rigs fell by 10 to 545 while three gas rigs were added. Plains-West Texas Intermediate closed at $36.50 and WTI priced at $39.97 per barrel.
MENTIONED IN THIS ARTICLE
Permian Basin
Baker Hughes
Viengia
Plains
West Texas
Also Mentioned on This Page
THE
Associated Press
Emmanuel Ibe Kachikwu
Com
Wakeite
Opec.or
opec_web
Nigeria
State For Petroleum Resources
Emmanuel
Kachikwu
Abdalla Salem El-Badri
Libya
Ronald Zak
Washington
Tor
Tom Kloza
Oil Price Information Service
Eston’s
N. Midkiff
Midland
LD Sse
Coors Road
Odessa
Accentgranitemidland
ATE Add
BSS
Music City Mall
Odess
Teas Sports
Sth Street
Odeus
Tmasehooms Sarte
Colne
Gatien
Basan
Finuat
Jbs Parkway
Infinity Solar
G& Solutions
Mark Dawson
Terri Everett
Michelle Owens
Tom
Denise Pinkerton
Stephen & Rubin Stroope
Immanuel Baptist Church
E. University Blvd
Uinyurl
Porydvo
Perience
USA
Nike
Otoh Yea
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!