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What You Probably Don’t Know about the Oil Prices Craze

The news about the Saudis and Russians and the monitoring of the oil prices to help stabilize the market is what’s literally dominating the mainstream. The situation is so dire that the optimism exhibited by the various shareholders seemingly can’t die down. But, irrespective of the impact such an extremely unlikely alliance could bring, sanity is needed for the betterment ... Read More »

China Smiles to Oil Prices as US crude stock draws

In what is turning to be yet another torrid week for the US dollar, oil futures continued their upside spiral in China amid the reported steep draw in the US oil inventories. China continues her crude imports, despite the prices After so much anxiety and optimism coupled with the looming OPEC-Saudi-Russia uncertainties, Thursday saw the rise in oil prices in ... Read More »

A Sign That the Oil Bust Might Be Ending. Might.

PHOTOGRAPHER: SPENCER PLATT/GETTY IMAGES Credits: Bloomberg.com I really wouldn’t make too much of this. The number is preliminary. It will be revised. It might just be statistical noise. Still, it does seem worth mentioning: According to Friday’s jobs report, employment in oil and gas extraction in the U.S. rose in August after 12 straight months of decline (and 19 out of ... Read More »

Transocean Ltd gets new contract in India

Transocean Ltd. said Thursday that the company has secured a 3 year contract with the Indian state-owned ONGC work offshore India utilizing Actinia. Actinia is a semisub offshore rig operated by Transocean, with the rated water depth of 1500 ft and rated drilling depth of 25000 ft. (Riglogix rig data by Rigzone.com) Actinia has previously worked for ONGC from June ... Read More »