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The RRC reports that preliminary total Texas reported production for July 2024 was approximately 121 million barrels of crude oil and 953 billion cubic feet of total gas. ... of Texas for July ...
Oil surged on Friday as tensions in the Red Sea escalated following attacks by the US and its allies against Yemeni sites controlled by Iran-backed Houthi rebels.
Oil gained as much as 1% on Friday amid supply worries after Treasury Secretary Scott Bessent told Fox Business, "We are committed to bringing the Iranians to going back to 100,000 barrels per day ...
In 1919, tax revenue from oil production surpassed $1 million ($17.6 million in today's terms) and in 1929 it reached $6 million ($106 million in today's terms). [ 34 ] [ 95 ] By 1940, the oil and gas industry accounted for approximately half of all taxes paid in the state.
May 5 – A leak occurred in a relief line, at a Keystone Pipeline Terminal in Beaumont, Texas. About 18,500 gallons of crude oil were spilled. The cause seemed to be internal corrosion. [5] July 28 – A gas line explosion and fire occurred in Martin County, Texas, which injured four workers. A ditching truck hit an existing high-pressure gas ...
Commercial crude oil stock pile. The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]
The session high was more than $80, highest this year so far. U.S. West Texas Intermediate crude futures climbed 66 cents, or 0.9%, to settle at $72.68, paring gains after touching a 2024 high of ...
The major oil-producing regions of the U.S.—Texas, Oklahoma, Louisiana, Colorado, Wyoming, and Alaska—benefited greatly from the price inflation of the 1970s as did the U.S. oil industry in general. Oil prices generally increased throughout the decade; between 1978 and 1980 the price of West Texas Intermediate crude oil increased 250 ...