Houston, Texas-based EOG Resources, Inc. (EOG) explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas in producing basins in the United States and internationally. With a market cap of $61.6 billion, the company operates in prolific resources with huge reserves of oil and natural gas.
Crude oil prices reversed their trajectory from earlier this week, trending lower today after the American Petroleum Institute reported an estimated inventory rise in both gasoline and middle distillates, and Saudi Arabia cut its oil prices for Asian buyers to an almost four-year low.
Curious Minds Corner
Why is oil measured in “barrels,” and how much is that?
The 42-gallon barrel became standard in the early Pennsylvania oil fields for transport; it’s still the industry unit today.