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Sunday, August 9, 2020

Exxon’s oil slick

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Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision...

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market flooded with an oversupply of oil. The company said Tuesday its capital investments for this year are expected to be $23 billion, down from the previously announced $33 billion. The price of U.S. benchmark crude oil is down about 60% since

the start of the year, leading companies to announce thousands of layoffs or furloughs. Some domestic oil companies are filing for bankruptcy protection in an industry that was already struggling. The price of crude has had some bounces higher in recent days as hopes build that major producers will agree on production cuts this week and call a truce in a price war that broke out last month.

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