Royal Dutch Shell is planning further job cuts in its UK North Sea oil and gas business in 2015, the company said on Thursday, just a week after a package of tax cuts from the Treasury aimed at encouraging growth in the industry.
Despite the talk by many that the historic drop in oil rig counts really did not matter because the existing wells would still continue to produce and production in the United States would not be impacted, at least one energy company says that is not the case.
If anyone was paying attention to the crude oil market yesterday, you might have noticed that the market is finding some stability. We tumbled and lost a $1, but finished with the Bulls and reversed to nearly fifty cents higher.
Tuesday's trading was a prime example of the strong upside sentiment permeating in the crude oil complex. Genscape reported a huge build in Cushing, Okla., crude oil inventories and after a short lived round of selling the market recovered all its intraday losses and closed higher on the day.