Robots Are Taking Over Oil Rigs

Robots Are Taking Over Oil Rigs
The robot on an oil drillship in the Gulf of Mexico made it easier for Mark Rodgers to do his job stringing together heavy, dirty pipes. It could also be a reason he’s not working there today. The Iron Roughneck, made by National Oilwell Varco Inc., automates the repetitive and dangerous task of connecting hundreds of segments of drill pipe as they’re shoved through miles of ocean water and oil-bearing rock. The machine has also cut to two from three th

Oil is surging this morning on news that OPEC is cutting output like never before

Oil is surging this morning on news that OPEC is cutting output like never before
LONDON — Oil prices rose more than 1 per cent today after the International Energy Agency (IEA) reported record initial compliance by OPEC members implementing last year’s landmark deal to curb output in an effort to prop up global oil prices. Some producers, notably Saudi Arabia, (are) appearing to cut by more than required   Members of the Organization of the Petroleum Exporting Countries (OPEC) made production cuts in January equating to 90 pe