Oil on a Slide: Fed’s Hawk Dance Sends Prices Down

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Lone Star Stories

• Oil on a Slide: Fed’s Hawk Dance Sends Prices Down

Oil prices dropped approximately 1% to a one-week low, following the U.S. Federal Reserve’s decision to maintain interest rates; however, the anticipation of a rate hike by year's end has stiffened its hawkish outlook, with Brent and U.S. West Texas Intermediate crude witnessing a decrease in their futures for November and October delivery respectively.

• Texan Energy Hustle: The Tour of Power

Texas Comptroller Glenn Hegar, on his Good for Texas Tour: Energy Edition, underscored the importance of workforce training and education for supporting the rapidly expanding energy sector in Texas, which saw a 6.3 percent increase in energy jobs in 2022 from the previous year. He emphasized the necessity of a well-trained workforce to sustain such growth.

Reader Question of the Day

What roles do artificial intelligence and robotics play in modern drilling operations?

Artificial Intelligence (AI) and robots are like the brain and the hands of modern drilling operations. AI is the smart brain that can analyze tons of data quickly and make smart decisions. It can predict equipment failures before they happen and suggest the best ways to drill, making the whole operation smoother and more efficient.

Robots, on the other hand, are the hands doing the heavy lifting. They can handle tasks that are too risky for humans, like working in extreme temperatures or handling hazardous materials. With their precision and speed, robots can do these jobs more safely and accurately. Together, AI and robots make drilling safer, faster, and smarter, helping us get the energy we need while keeping workers safe.

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