Number of active U S drilling rigs increases this week shanghaisun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shanghaisun.com Daily Mail and Mail on Sunday newspapers.
Atlanta-based oilfield specialist RPC Inc. saw its revenue climb in the first quarter from a year ago across all of its major service lines as oil prices
Saturday, 1 May, 2021 - 04:45
FILE PHOTO: An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov Asharq Al-Awsat
OPEC oil output has risen in April as higher supply from Iran countered involuntary cuts and agreed reductions by other members under a pact with allies, a Reuters survey found, adding to signs of a 2021 recovery in Tehran’s exports.
The 13-member Organization of the Petroleum Exporting Countries pumped 25.17 million barrels per day (bpd) in April, the survey found, up 100,000 bpd from March. Output has risen every month since June 2020 with the exception of February.
Delaware Business Now
Delaware drivers saw another week of increases at the pump.
South Jersey and Delaware saw increases of four cents in the past week while the national average saw little change.
A year ago, the comparison reflects turbulent times in the oil industry as the pandemic took hold and stay-at-home orders were issued.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased last week. The increase helped to limit pump price increases as demand dropped. Continued growth in total domestic supply will likely help keep pump prices in check through the weekend amid a reduction in demand.
Oil prices will inch higher this year as vaccines revive demand and OPEC+ keeps a leash on supply, but the worsening COVID crisis in India and elsewhere poses…