Tag Archives: Baker Hughes

Oil prices are responding to the tightening of supply due to the Libyan production halt.

Demand for this year is expected to be good. if not better than 2017.

The technology focus is expected to continue for the company. which has plans for launches this year.

The IEA warned that mostly due to U.S. shale. total supply growth could exceed demand growth.

Oil output in the U.S. dropped last week for the first time in more than two months.

Oil prices rose on Monday. although the 2018 outlook points to ample supply despite production cuts led by OPEC.

The global agreement to limit production is making progress in re-balancing supply and demand for oil.

OPEC and its allies started withholding supplies last January and currently plan to continue doing so throughout 2018.

U.S. drillers added two oil rigs to reach 749 in the week ended Dec. 1. the highest level since late September. according to Baker Hughes.

The Halfaya oilfield was discovered in 1976 with 4.1 billion barrels in reserves and is situated in the southern part of Iraq .