New guidelines on permitting for wastewater disposal wells in Texas are threatening to drive oil producers’ costs higher as companies face weak crude prices, marking the latest challenge for the industry that has seen output growth slow as it matures.
Crude oil prices dropped back slightly on Thursday, after jumping by 4% on Wednesday to hit the highest in two months on the news that the U.S. was pulling out its staff from the embassy in Baghdad. The drop was driven by profit-taking, but bullish sentiment remains.
Curious Minds Corner
Why does natural gas smell like rotten eggs if it’s naturally odorless?
A foul-smelling chemical (Mercaptan) is deliberately added as a safety measure so leaks can be easily detected by smell.