Oil field work was coming in fast when GoFrac doubled its workforce and equipment fleet at the beginning of last year, just one of hundreds of small oil service companies thriving on the revival of U.S. drilling.
Energy
U.S. light oil exports double in May, mostly to Europe
U.S. exports of ultra-light crude, also known as condensate, have doubled since the start of the year, with most shipments headed to Europe, according to traders familiar with the deals and data from an energy consultant.
Oil hits three-week lows as Greek crisis worsens; eyes on Iran
Crude futures hit 3-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market.
Big oil options trades revive speculation about producer hedging
Two big trades in oil options worth nearly $60 million last week boosted volatility in that market and revived speculation among traders that U.S. producers are placing hedges to guard against another price rout this fall.
Crude prices steady, U.S. gasoline stocks data disappoints
Oil prices were steady on Thursday as an unexpected build in U.S. gasoline inventories offset a higher than forecast draw in crude stocks.
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Brent crude oil rose on Wednesday as strong demand and falling stockpiles in the United States pushed prices higher.
A year on from the start of one of the biggest oil price crashes in history, the driving force behind the slide remains intact: there is still too much crude.
Oil prices fell on Monday as the Greek debt crisis helped boost the dollar, making fuel more expensive to holders of other currencies, and as United Nations talks offered a chance for peace in Yemen where crude exporter Saudi Arabia is involved in a civil war.
Crude oil prices fell on Thursday as players took profits from the past two days of gains, turning bearish after the dollar's rise against the euro on Greek debt worries weighed on demand for commodities.
Two leading Indian power firms will build several plants in Bangladesh to produce up to 4,600 megawatts of electricity to ease the country's prolonged power crisis, a senior official said on Saturday.
Russia will begin importing Iranian oil under a long-heralded oil-for-goods barter arrangement in the coming week, Iran's oil minister was quoted as saying, more than a year after negotiations began.
Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports.
Oil fell nearly 3 percent on Wednesday as traders and investors ignored a fifth straight weekly decline in U.S. crude stockpiles to focus instead on a big build in distillates, including diesel, as the peak season for U.S. road travel gets under way.
Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations.
