This Week’s Market Buzz

  • Light, sweet crude for delivery rose 44 cents, or 0.8 percent, to $53.19 a barrel during the Globex electronic session of the New York Mercantile Exchange. Brent crude for March delivery added 48 cents, or 0.9 percent, to $55.56/barrel. Prices continue to swing back and forth around the low $50-a-barrel level, and traders continue to weigh the outlook for a production cut struck by major oil-producing nations against the sizeable overhang in global oil stockpiles.

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Proppant Transport Technology for Use in High Salinity Water

Fairmount Santrol announced an extension to Propel SSP proppant transport technology, which increases hydraulic fracturing efficiency, for plays where operators face high produced-water disposal costs and constraints on freshwater availability.

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Hamm: We Can Double Oil Production to 20 Million Barrels a Day

U.S. drillers have the ability to double the country's oil production to 20 million barrels a day, but doing so too soon would tank oil prices, Continental Resources CEO and fracking advocate Harold Hamm said.

Read more: Hamm: We Can Double Oil Production to 20 Million Barrels a Day

This Week’s Market Buzz

• Oil prices are trending higher on news of Saudi supply cuts to Asia. Oil's gains came despite government data showing a bigger-than-expected weekly build in U.S. crude and fuel inventories. Brent crude futures were up $1.60, or 3 percent, at $55.24 a barrel, while U.S. West Texas Intermediate (WTI) crude oil futures were up $1.53, or 3 percent, at $52.35 a barrel.

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