EIA: US crude inventories down 1.4 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, dropped 1.4 million bbl during the week ended May 27 compared with the previous week’s average, the US Energy Information Administration reported on June 2. Source: News

MARKET WATCH: NYMEX, Brent drop slightly pending OPEC meeting

Oil prices held just above $49/bbl on the New York market on June 1 as traders and analysts awaited a June 2 meeting by the Organization of Petroleum Exporting Countries in Vienna and also release of the US crude oil and products report, which was delayed 1 day by the US Memorial Day holiday. […]

Center’s director responds to NAS report on improving offshore safety

The Center for Offshore Safety (COS) already has implemented several programs recommended in a report that the National Academies of Science, Engineering, and Medicine issued on May 25, and has made important new technology and practices available to member and nonmember companies, its director said. Source: News

EIA: US oil production in March fell 5.4% year-over-year

US crude oil production in March averaged 9.127 million b/d, down from 9.133 million b/d in February and 9.648 million b/d in March 2015, according to the most recent data from the US Energy Information Administration. Source: News

Study gauges contingent-staffing complexity

Venezuela and the UK bracket the global market for contingent staffing complexity, according to an annual assessment by Staffing Industry Analysts (SIA), Mountain View, Calif. Source: News