In the oil patch radio show is proud to bring you this week’s energy minute produced by shale mag.com:
Weatherford, one of the industry’s oldest and largest oil field service company filed for chapter 11 bankruptcy protection on Monday, led by Saudi Arabia, Iraq and Russia. The OPEC plus nations agreed on Tuesday to extend their export limitation agreement through the end of 2019 the nations will plan to meet again in late November to determine the direction of their deal for 2020 the participating nations will also ratify a new chapter that will set the framework for technical meetings and summit meetings in the future. Markets reacted to the OPEC plus by dropping crude prices by more than $3 per barrel. Traders had hoped that the countries would agree to further production cuts in addition to extending their deal, listen to in the oil patch radio and keep up with the oil and gas industry online at shalemag.com.