List of the most popular hashtags for theme #OILNEWS

✅ News: Oil price tops $60 for first time in more than two years Oil marks the latest stage in its recovery as OPEC and Russia signal support for extending measures to tackle oversupply The price of a barrel of oil has topped $60 for the first time in more than two years on rising expectations of a renewed deal to cut supplies. Brent crude reached its highest level since July 2015 amid signs that oil-producing countries will extend efforts to combat a supply glut. Oil has been gradually recovering since the start of last year when it crashed close to $27 - a slump caused by weak global demand combined with an oversupply of the commodity. The latest milestone marks another step for the sector getting back on an even keel. OPEC and Russia have cut 1.8 million barrels a day to reduce the supply glut. ••••• #oilnews #oilandgas #oilprice #oilindustry #opec #saudiarabia #saudi #russia #brent #brentoil #drilling #crude #crudeoil #energy #northsea #trade

News: Weatherford dumps joint venture with Schlumberger and sells frack fleet instead Schlumberger buys Weatherford pressure pumping and hydraulic fracturing business for $430 million cash. •Schlumberger will take ownership of Weatherford's U.S. pressure pumping facilities and contracts. About 100 Weatherford employees will transfer to Schlumberger.. . #weatherford #schlumberger #oilrig #pumptruck #frac #hydraulicfracturing #slb #oilgas #oilandgasindustry #oilindustry #petrolero #shale #shaleoil #shalegas #fracfleet #drillingrig #petroleumengineer #oilfield #oilwell #pressurepumping #usa #oilfieldtechnology #oilnews #wft #wellservices

⛔️⚠️News: Keystone Pipeline leaks 210,000 gallons of oil in South Dakota, USA This is the largest Keystone oil spill to date in South Dakota. This is 2600 miles underground pipeline operated by TransCanada. Environmental activist group Greenpeace said the spill shows the new pipeline in Nebraska should not be approved. ♦️New Keystone XL: In March, President Donald Trump's administration officially issued a permit that approved construction of the Keystone XL Pipeline. Despite all the prevention and mitigation plans which oil companies take seriously within their projects, the oil spill is occurring time to time in different parts of the world directly affecting the environment. #oilandgasindustry #oilindustry #oilnews #oilandgas #oilspill #dakota #southdakota #usa #trump #transcanada #environment #hazard #prevention #pipeline #hse #hseq #spill #leak #keystonepipeline #keystone #nebraska

⚙️Events: Oil and Gas Digital Transformation Conference in Kuwait Investing in digital technologies is a no-regrets move that could increase production from existing operations and such digital technologies have proved their value by reducing operating costs, increasing efficiency and generating revenue, making it more lucrative for oil and gas companies to move quickly towards digital transformation. to increase the strategic value of oil and move towards a digital world, the Digital Transformation in Oil and Gas conference, taking place from 26-29 November in Kuwait The conference will also provide insight on strategies and opportunities involved in digitally transforming an oil and gas organization and will cover areas including big data, IoT, cloud storage, cyber security in bringing such a shift. #oilandgasindustry #oilnews #oilevents #oilandgas #oilgas #oilfield #drilling #drillingrig #digital #digitaltransformation #kuwait #productionplatform #innovation #oilshow #cybersecurity #iot #cloud #digitalcurrency #bitcoin #modernage

Leg out. #drillinglife #oilrig #oilfield #oilandgas #oilandgasindustry #oilnews #love #work #offshore #offshorelife #oil #gas #energy #future #playhard #workhard

Crude seen reaching up to $70 by year-end 2017 LONDON (Bloomberg) -- Hedge fund manager Pierre Andurand says OPEC is still likely to agree on an output freeze this month and prompt a sharp rally in oil prices, despite disputes among its members. The years-long supply glut that hammered #oilprices is gone with no sign that production will grow next year, Andurand said in a note to investors obtained by Bloomberg News. The founder Andurand Capital Management, which oversees $1.4 billion in its main strategy, put the chance of an agreement by the Organization of Petroleum Exporting Countries at 70%. “History has demonstrated that #OPEC typically never reaches an agreement before the headlines," wrote Andurand, who won big by predicting the oil market’s #downturn in 2014. “Unfortunately, the noise surrounding negotiations is often misinterpreted by the media and most analysts who perceive bargaining techniques as a sign of a deal falling apart." #Oil retreated the past three weeks amid skepticism about OPEC’s ability to implement a freeze at its Nov. 30 meeting in Vienna. Prices closed at an eight-week low of $43.32/bbl on Monday after Iran said it had increased production at three fields. Failure to reach a deal may drive down prices further amid “relentless global supply growth,” the International Energy Agency said Nov. 10. #SaudiArabia, OPEC’s biggest producer, wants a deal to boost prices and head off a long-term shortage in supply, Andurand said. A freeze could bump up prices to $55 to $60 by year’s end, he said. Even without an agreement, prices will “slowly trend upward" towards $60 to $70 by the end of 2017. The firm’s main fund lost 3% in October but is still up 7.8% for the year, according to the letter, with both numbers beating returns for the S&P GSCI crude-oil index. Source: worldoil.com #PetroSociety#oilnews

Saudi minister says oil at $60 by year-end not ‘unthinkable’ ISTANBUL (Bloomberg) -- The oil-price could recover to $60/bbl by the end of 2016, said Saudi Arabia’s Energy Minister, just weeks after agreeing to cut supply for the first time in eight years. The world’s largest crude exporter will work with other producers to determine output caps and is “optimistic” about reaching a deal by the end of November, although OPEC shouldn’t take action that would shock the oil market, Khalid Al-Falih said Monday. Many non-#OPEC producers have expressed a willingness to cooperate and the minister said he will meet his #Russian counterpart in the next couple of days. “It is not unthinkable that we could see $60 by year-end,” Al-Falih said at the #WorldEnergyCongress in #Istanbul. The oil market has “shifted” since 2014, when #SaudiArabia led the Organization of Petroleum Exporting Countries to abandon its production ceiling in pursuit of market share, and it’s now time to do something different, Al-Falih said. The minister’s first public comments since the Algiers accord of Sept. 28 underscore the dramatic shift in Saudi strategy away from unfettered production, which will be formalized at the group’s next meeting on Nov. 30 in Vienna. Saudi Shift While the kingdom’s two-year-old market strategy forced some #US #oilcompanies to cut back production, an enduring oil glut has prevented a lasting price recovery. OPEC decided last month to limit production to a range of 32.5 MMbopd to 33 MMbopd to accelerate the “ongoing drawdown of the stock overhang and bring the rebalancing” in #crude markets forward. There is more on the Facebook page! #PetroSociety#oilnews#oilprice

Shale explorers boost activity further after OPEC’s ‘lifeline’ HOUSTON (Bloomberg) -- Explorers added #oilrigs in the U.S. for a sixth consecutive week after #OPEC’s pledge to cut output livened up the #crude market, allowing producers to lock in higher prices with hedge contracts. #Rigs targeting crude in the U.S. rose by 3 to 428, adding to the largest level of work since February. Producers haven’t pulled back activity since the end of June. #Naturalgas rigs fell by 2 to 94 this week, while miscellaneous rigs rose by 1 to 2, bringing the total for oil and gas up by 2 to 524. Oil climbed above $50/bbl for the first time since June this week after the Organization of Petroleum Exporting Countries agreed to the first production cut in eight years. By resuming its policy to balance the market, the group threw a “lifeline” to U.S. shale firms and prompted them to hedge “in droves,” Harry Tchilinguirian, head of commodity research at BNP Paribas SA in London, said last week. “Every time prices get above the $50 range we see a lot of activity coming in from producers selling into the rally,” said Hamza Khan, an analyst at ING Bank NV in Amsterdam. The oil price recovery from a 12-year-low in February prompted producers to begin returning parked rigs to service after idling more than 1,000 rigs since the start of last year. Crude output fell by 30,000 bpd to 8.47 MMbpd last week, the Energy Information Administration reported Wednesday. Source: worldoil.com #PetroSociety#oilnews

Trump camp's call for oil freeze will be ignored by OPEC: Column NEW YORK (Bloomberg Gadfly) -- Energy adviser to Donald Trump, CEO of Continental Resources, Harold Hamm has history with OPEC. Back in 1999, he led a group of independent U.S. oil producers calling on the government to impose duties of as much as 240% on crude oil imports from a number of OPEC countries, and Mexico too, for good measure. He claimed the producers were selling their oil in the U.S. at unfairly low prices: WTI crude oil had fallen to as little as $10.35/bbl in December 1998. A little more than a month ago, Hamm told Bloomberg Businessweek that the downturn in #oilprices over the past two years—which saw #WTI fall to a low of $26.05/bbl—had made OPEC "irrelevant." Victory at last? Well, maybe not. Just last week, in an interview with the Financial Times, he called on the now irrelevant OPEC, and #Russia, to ride to the rescue of the U.S. shale oil industry, saying it was "high-time" for them to agree on a freeze in production in an effort to raise prices. Hamm's call is unlikely to be heeded. #OPEC members are undoubtedly being hurt by the dramatic fall in the price of oil that began in the middle of 2014 and has lasted much longer than almost anyone anticipated. #Venezuela is teetering on the brink of economic and social collapse. #Libya has fragmented into a group of city-states with feuding militias. Sabotage has soared again in the swamps of Nigeria's oil-producing heartland. #Saudi Arabia is dealing with conflicts on both its southern and northern borders, with regional rival Iran supporting the opposing side in both cases. There is more on the Facebook page! #PetroSociety#oilnews