IEA Cuts 5-Year Oil Outlook Crude oil futures are slightly higher this morning even after the International Energy Agency said oil consumption likely won’t reach last year’s levels until 2012 the organization said in its Medium Term Oil Market Report. According to Bloomberg the Paris-based agency cut its oil demand estimates for every year through 2013 by approximately 3 million barrels a day because of the deep economic recession in developed economies as well as slowed growth in China and India.Average oil consumption will stay below 85.76 million barrels a day and won’t break that mark until 2012. This ...

The Eagle Ford shale in South Texas is seeing increased development, as the industry continues to search for high-potential resource plays.

This exploration and production company has begun a transformation into a more diversified entity with higher growth assets.