Julianne Geiger

1 week ago | oilprice.com | Julianne Geiger

U.S. crude oil production surged to an all-time high in March, reaching 13.488 million barrels per day, according to newly released monthly EIA data. That edges out the previous monthly record of 13.450 million bpd set in October 2024, and an increase over the 13.153 million bpd in February. The increase reflects steady momentum from the Permian and Gulf Coast operators—even as drilling activity slows elsewhere. But while the supply side flexed its muscle, demand told a different story.

1 week ago | oilprice.com | Julianne Geiger

EOG Resources is making a bold northeast push, announcing Friday it will acquire privately held Encino Acquisition Partners for $5.6 billion, including debt. The move positions EOG as a dominant Utica shale player, with 1.1 million net acres and 275,000 boe/d in combined production. The seller, Encino Energy, backed by the Canada Pension Plan Investment Board, controls 675,000 net core acres in the play—most of it contiguous and liquids-rich. That’s precisely what EOG is after.

1 week ago | oilprice.com | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 10-rig decrease last week, and a 6-rig decrease the week before that. The total rig count in the US fell by 3 to 563 rigs, according to Baker Hughes, down 37 from this same time last year. The number of oil rigs fell by 4 to 461 after falling by 8 during the previous week—and down by 35 compared to this time last year.

1 week ago | oilprice.com | Julianne Geiger

The U.S. Supreme Court has given the green light to Utah’s Uinta Basin Railway project, backing a narrower interpretation of environmental review laws and potentially clearing the path for a major expansion in oil transport capacity. In a unanimous decision Thursday, the justices reversed a lower court ruling, slamming it for what they described as an overly expansive and intrusive interpretation of environmental law.

1 week ago | oilprice.com | Julianne Geiger

Crude oil inventories in the United States dipped by 2.8 million barrels during the week ending May 23, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration. On Tuesday, the American Petroleum Institute (API) reported a drop in US crude oil inventories of 4.236 million barrels in U.S. crude oil inventories with a draw in gasoline stocks as well.