Friday , March 29 2024

Crude oil finished the week with a 2% loss

  Crude oil dropped nearly 2% in Friday’s trading, making for a second weekly decline. What caused the drop? Again, weakened demand in China because of growing COVID-19 cases. Adding to it was the growing possibility of hikes in U.S. interest rates. West Texas Intermediate crude for delivery in December …

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Oklahoma’s general revenue funds continue to grow

  A new report by the Oklahoma Office of Management and Enterprise Services showed October general revenue fund collections for Oklahoma were up nearly 19% from a year ago. Total collections for October came to $715.3 million which is 18.6% or $112.1 million more than the monthly estimate. It also …

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Wyoming could face blackouts as state transitions to wind and solar power

  The elimination of coal and natural gas-fired electrical generation and the transition to wind and solar power in Wyoming could result in blackouts in the state in coming years. So claimed a new assessment by the Western Electricity Coordinating Council which examined the electric grid and determined the state’s …

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Another fall for crude oil prices and for Oklahoma energy stocks

  Crude oil prices suffered another drop in Thursday’s trading as they fell more than 3%. Observers blamed growing COVID-19 cases in China along with increased concern that U.S. interest rates will be raised again. West Texas Intermediate crude for December delivery plunged $3.95 a barrel or nearly 5% to …

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Wyoming Senator blasts Biden’s latest energy department nominees

  Wyoming U.S. Sen. John Barrasso made it clear Thursday he doesn’t like President Biden’s latest energy nominees. During a hearing of the Senate Committee on Energy and Natural Resources, a committee which also includes Sen. James Lankford of Oklahoma, Sen. Barrasso was particularly opposed to the nomination of David …

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PSO wants state approval of $2.5 billion solar and wind power projects

  Public Service Company of Oklahoma on Thursday asked the Oklahoma Corporation Commission for approval of its  nearly $2.5 billion fuel-free power plan to purchase three new wind farms and three new solar facilities. The company said the proposed plan will help meet projected power needs while protecting customers from volatility in energy …

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Nation’s rig count tumbles on major drop in Permian Basin

  Enverus reported a drop of 18 rigs in its weekly rig count, explaining most of it was due to a big decline in the number of rigs drilling in the Permian Basin. The national count fell to 868 for the week ended Nov. 16 reported Enverus on Thursday. It …

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