An OPEC publication written by the exporter group’s public relations team helped oil prices jump and prompted speculation over a possible shift in output policy — to the bafflement of some OPEC insiders.
A long-awaited study by the Obama administration concludes that lifting the nation’s four-decade ban on oil exports wouldn’t increase U.S. gasoline prices and could even help lower them, raising the stakes in the debate about whether to lift or relax the ban.
The prolonged slump in crude oil prices has forced thousands of people out of work across the country. Laid-off energy workers in Houston, home to some of the world’s largest oil and gas companies, are facing difficult choices about their future in an industry punctuated by booms and busts.
U.S. crude rallied for a third consecutive day Monday, posting its best three-day gain in 25 years, but traders may not have seen the last of $30 oil, Anthony Grisanti, president of GRZ Energy, said.
Warren Buffett’s Berkshire Hathaway Inc. sees a green light at the intersection of low oil prices and record driving.
U.S. crude rose 6 percent on Friday, notching its first weekly gain in two months, after a rally in gasoline from refinery outages and concerns about strife in Yemen fed a second frenzied day of short-covering in oil.
Aug. 27, 1859: Edwin Drake strikes oil in Pennsylvania with the first commercial well in the U.S.
Clouds parted on the crude oil markets Thursday, as a nearly universal rally on the global equity markets pushed oil back above $40 per barrel and to its largest single-day gain since 2009.
The Michigan Attorney General is warning gas stations in his state not to gouge consumers in the wake of a BP refinery outage in Whiting.
Oil, the lifeblood of many countries that produce and sell it, appears to be rapidly turning into an ever-cheaper economic curse.
