A new salary survey reveals that American oil and gas industry professionals’ wages have held up well despite uncertainty in the wider economy

The Salary Guide, produced by Hays Oil & Gas in partnership with specialist jobsite Oil and Gas Job Search, shows that US oil and gas professionals’ salaries have remained resilient, with wages marginally higher than last year at US $117,000.

Daily contract rates, a key indicator of future salary trends, registered slight growth, from $820 last year, to $840 in 2011. Read more »

The recent surge in oil prices skidded to a halt this past week as economists raised concerns about weakening world demand, and a massive tsunami struck one of the world's biggest oil importers.

Japan is the third-largest oil importer in the world, and it's unclear how much its economy will be affected by Friday March 11, 2011th disaster. Analysts said its likely Japan will consume less oil after some refineries shut down. Read more »

Oil prices fell on Tuesday March 7, 2011 after Kuwait's oil minister said OPEC was considering the first official production boost in more than two years to ease anxiety about Libya's supply disruption and the potential for other disruptions in the region. Read more »

Oil prices fell to near $101 a barrel Thursday March 3, 2011 in Asia amid efforts toward a mediated resolution to the conflict in Libya which has cut crude supplies by more than half from the OPEC nation.

Benchmark crude for April delivery was down $1.06 at $101.17 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $2.60 to settle Wednesday at $102.23, the highest settlement since Sept. 26, 2008.

In London, Brent crude for April delivery was down $1.50 to $114.85 a barrel on the ICE Futures exchange. Read more »