In the News
At least one person was killed and another was missing on Friday after an oil barge being pulled by a tug boat caught fire and exploded.
Oil rebounded as a risk-on appetite is seen coming back into financial markets.
The US oil rig count fell for a third week in a row, extending a two-month drilling decline.
US petroleum product demand averaged more than 20.2 million b/d in September, 2.4% more than a year earlier and the highest level for the month since 2007, the American Petroleum Institute reported.
The US rig count during the week ended Oct. 20 declined for the ninth time in 12 weeks. Baker Hughes’ tally of active rigs fell 15 units this week to 913.
Thailand’s PTT Exploration & Production PCL (PTTEP) will delay its final investment decision on the 612-sq-km Mariana Oil Sands Project near Athabasca, Alta., according to a Reuters report. PTTEP also will record a $550-million impairment in its…