Crude Oil Industry Headline News

"Total in Fresh Talks with Venezuela on Expanding Ops"
Total is in fresh talks with the Venezuela government about expanding its operations in the South American nation....Complete Story

"Exxon, Chevron Top Analyst Earnings Estimates on Refining Gains"
Exxon Mobil Corp. and Chevron Corp., the biggest U.S. oil companies, exceeded analyst earnings estimates as increased fourth quarter refining profits blunted the impact of a record drop in crude prices....Complete Story

"Mexico's President Meets with Top Oil Cos, Talks Energy Reform"
Mexican President Felipe Calderon met with top executives from some of the world's largest oil companies at the World Economic Forum in Davos....Complete Story

"Nigerian Militants to End Truce in Oil-Rich Delta"
Nigeria's main militant group said on Friday it was calling off a ceasefire after a military strike on one of its camps in the Niger Delta, warning of a "sweeping assault" on the oil industry....Complete Story

"California Rejects Offshore Oil Deal"
California's Land Commission said no to an offshore oil drilling deal saying it would open the door for further offshore development. Environmental groups and the Plains Exploration and Production company....Complete Story

Chevron 4th Quarter Conference Call

Chevron Corp. (ticker CVX) reports fourth-quarter 2008 results Friday January 30, in a conference call at 11:00 AM ET hosted by Dave O'Reilly, Chevron's chairman and chief executive officer, Pat Yarrington, Chevron's vice president and chief financial officer, and James Aleveras, Chevron's general manager of investor relations. To take in the conference call by phone just dial 703-639-1116 or 866-219-5256. The conference ID is 1320201. Or on the internet you can catch the live webcast of the call on the company's website. Just Click Here!

Crude Oil Industry Headline News

"Shell Remains Bullish on Long-Term Energy Prices"
Royal Dutch Shell Plc expects energy to be expensive in the long term as the world tries to meet growing demand without harming the environment, its chief executive said on Thursday....Complete Story

"OPEC Ready for Further Output Cut"
The Organization of Petroleum Exporting Countries (OPEC) stands ready to make further cuts in oil supply if prices remain subdued, the cartel's secretary general said Thursday....Complete Story

"Shell to Boost Investment Despite Oil Drop"
Oil major Royal Dutch Shell Plc plans to buck an industry-wide trend of investment cuts on the back of a $100/barrel drop in crude prices and lift its capital expenditure....Complete Story

Crude Oil Industry Headline News

"Exxon Allowed to Drill on Contentious Alaska Oil Field"
Alaska officials gave ExxonMobil permission to proceed with drilling on a dormant North Slope oil and gas field that had been the subject of a legal battle....Complete Story

"Obama's Interior Secretary Voices Openness for Offshore Drilling"
Interior Secretary Ken Salazar indicated Tuesday that the Obama Administration could be open to expanded offshore drilling and is considering doing away with the controversial "royalty-in-kind" program....Complete Story

"ConocoPhillips Has Big Loss But Shares Up"
ConocoPhillips reported a massive fourth-quarter loss on Wednesday compared with a year-earlier profit, but the company's shares rose about 1% in premarket trading....Complete Story

New Trading Video "USO and DTO"

I personally believe that "don't trade alone" is more then a cliche. Sure there is plenty of easy moves, but for those trades that are large and critical, I never make a move without visiting the websites of my favorite traders and bloggers.

Lately one of my favorite traders is Salvador Lara. He has been, to use a cliche, hitting the cover off the ball!

Check out his latest video on the USO and DTO.

Click Here To Watch Salvadors Video

Crude Oil Industry Headline News

"Crude Oil Futures Decline on Speculation That U.S. Recession is Deepening"
Crude oil fell the most in two weeks after a report that U.S. home prices tumbled, a sign that the recession in the biggest energy-consuming country is deepening....Complete Story

"Shell Unloads Oil Cargo, Phibro Tanker Lifts Anchor as Contango Disappears"
Royal Dutch Shell Plc sold a cargo of crude stored off the U.K. and a vessel hired by Citigroup Inc.’s Phibro LLC left its anchorage in Scotland for the U.S. as the incentive to keep oil in tankers disappears....Complete Story

"Baker Hughes Will Cut 1,500 Jobs, Including 200 in Houston"
Baker Hughes has begun laying off nearly 4% of its global work force, including some employees in Houston, making it the latest major oil field services company to announce cuts in response to building industry headwinds....Complete Story

Crude Oil Industry Headlines News

"Petrobras' P-51 Kicks Off Production in the Campos Basin"
The P-51 semisubmersible platform went on stream Jan. 24, beginning production of well MLS-99 in the Campos Basin's Marlim Sul field....Complete Story

"Infrastructure Investment: Eni OKs 2 Greater Longhorn Developments"
For a combined investment of $341 million, Eni plans to add a subsea well to the Longhorn development and increase production capacity on the Appaloosa field's Corral platform....Complete Story

"Schlumberger Says Mideast Job Cuts Below 5% Global Average"
Schlumberger will cut jobs in the Middle East amid slowing oil field activities, but less than the global average of 5%....Complete Story

Crude Oil Industry Headline News

"Pemex Plans $20B E&P Investment to Boost Production"
Pemex plans to invest nearly $20 billion this year in exploration and production, with $2.2 billion slated for Cantarell and $2.3 billion for Chicontepec....Complete Story

"A Rebound in Oil Prices May Presage Pick Up in Demand"
Oil dropped and rebounded after the EIA reported a larger-than-expected build-up in crude oil and gasoline stocks, a move that suggests the market is seeing a change....Complete Story

"Schlumberger's Net Falls 17%; Gould Says Job Cuts Affect 5,000 Worldwide"
Schlumberger Ltd., the world’s largest oilfield-services provider, said fourth-quarter profit fell 17 percent as a collapse in petroleum prices slowed exploration spending by customers. The company said job cuts “concern” 5,000 people worldwide....Complete Story

Crude Oil Stock Market Winners and Losers

Winners

Meridian Resource 21.88%
Parallel Petroleum 19.91%
NATCO Group 19.14%
Allis-Chalmers Energy 18.97%
Berry Petroleum 17.36%

Losers

Daugherty Resources -5.42%
Parker Drilling -1.13%
Duke Energy -0.20%
TransCanada PipeLines Limited 0.95%
Trican Well Service Ltd. 1.34%

Change based on the last 2 days of trading

Crude Oil Industry Headline News

"Oil Declines as U.S. Crude, Fuel Inventories Increase More Than Expected"
Crude oil futures plunged after a U.S. government report showed a bigger than forecast increase in crude and fuel inventories as the recession curbed demand....Complete Story

"Saudi Arabia Will Cut Production 300,000 Barrels Below Quota, Khelil Says"
Saudi Arabia, the world’s top oil exporter, will cut production by 300,000 barrels a day below the quota agreed on with OPEC to prop up prices, Algerian Oil Minister Chakib Khelil said....Complete Story

"US Interior Department to Go Ahead with Offshore Drilling Plan"
A proposal issued in the final days of the Bush administration to expand offshore drilling in previously banned areas will move forward under the administration of U.S. President Barack Obama, Reuters reported Wednesday....Complete Story

"Iceland Opens First-Ever Offshore Licensing Round"
Applications are now being accepted in the First Oil and Gas Licensing Round in Icelandic Waters....Complete Story

"Energy Companies Find Money Pipeline Is Open Again"
Credit markets are showing some signs of life after months of inactivity, with energy companies helping to lead a surge in new debt and equity deals in recent weeks....Complete Story