Oil Barrel Prices Hang Above $60 as National Stockpile Falls
1/26/2018
CASPER, Wyo. (AP) — The price of a barrel of oil has remained above $60 as figures show the national stockpile has fallen for the 10th week in a row.
The Casper Star-Tribune reports that the national benchmark closed at $65.51 Thursday, compared to a mid-$40s low hit in June. The crude oil prices are at their highest point since 2014 because of the inventory drawdown.
Steve Kirkwood, of Kirkwood Oil and Gas, says Wyoming firms that have waded through a low-price environment for two years are looking ahead again.
State regulators received 1,736 applications for permits to drill in December, a 174 percent jump from December 2015.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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