Government, Business, Fuel

OPEC Sees Demand for Its Crude Above Pre-Virus Levels in 2021

Gas flares burn from pipes aboard an offshore oil platform. Gas flares burn from pipes aboard an offshore oil platform. (Ali Mohammadi/Bloomberg News)

OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus crisis, as rival producers struggle to revive output.

Grant Smith | Bloomberg News
July 14, 2020
Government, Business, Fuel

Spiking Cost of Gasoline Pushes June Consumer Prices Up 0.6%

Rising gasoline costs were the primary contributor to the consumer price rebound. Rising gasoline costs were the primary contributor to the consumer price rebound. (John Raoux/Associated Press)

U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.

Martin Crutsinger | Associated Press
July 14, 2020
Government, Safety

FMCSA Extends Emergency Relief Declaration to Aug. 14

A truck hauling livestock Livestock haulers are among those getting extended emergency relief. (Paccar Inc.)

The Federal Motor Carrier Safety Administration again extended its emergency relief declaration for truckers directly assisting with coronavirus-related efforts, this time to Aug. 14.

Eugene Mulero | Senior Reporter
July 13, 2020
Government, Business, Fuel

Oil Falls on Signs OPEC+ Will Taper Cuts

An employee looks out over a Saudi Aramco facility in Saudi Arabia. An employee looks out over a Saudi Aramco facility in Saudi Arabia. (Simon Dawson/Bloomberg News)

Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries, including the U.S.

Hailey Waller | Bloomberg News
July 13, 2020
Business

Southwest Says Flyer Numbers Need to Triple to Avoid Layoffs

A Southwest Airlines check-in area at a nearly empty terminal in LAX. A Southwest Airlines check-in area at a nearly empty terminal in LAX. (Patrick T. Fallon/Bloomberg News)

Southwest Airlines Co. needs passenger numbers to triple by year-end if it’s going to avoid the carrier’s first ever involuntary job cuts, its chief executive officer said, even as rising coronavirus infections prompt some states to restrict travel.

Mary Schlangenstein | Bloomberg News
July 13, 2020
Business, Equipment

Daimler May Need to Cut More Jobs Than Announced

An employee assembles a Mercedes-Benz automobile in Germany on April 22. An employee assembles a Mercedes-Benz automobile in Germany on April 22. (Alex Kraus/Bloomberg News)

Daimler AG will need to cut more jobs than the 15,000 previously announced, the company’s head of human resources told German news agency DPA in an interview.

Oliver Sachgau | Bloomberg News
July 13, 2020
Government, Business, Safety, Logistics

Some Chinese Ports Are Jammed Again on Food Testing

A vessel is docked at the Yangshan Deepwater Port in Shanghai, China, on July 12. A vessel is docked at the Yangshan Deepwater Port in Shanghai, China, on July 12. (Qilai Shen/Bloomberg News)

Intensive testing of meat, seafood and other products for the coronavirus has tripled customs clearance times at some major Chinese ports, raising concerns the delays could ensnare global trade flows.

July 13, 2020
Business, Fuel

Crude Oil Pares Weekly Decline on Optimism Over Virus Treatment

A silhouetted pumpjack. (Taylor Weidman/Bloomberg News)

Oil rebounded as a new virus treatment showed promising results, but rising COVID-19 cases continued to weigh on the market.

July 10, 2020
Government

Wicker, Bennet Introduce Infrastructure Bonds Bill

Sen. Roger Wicker (R-Miss.) Sen. Roger Wicker (R-Miss.), chairman of the Commerce Committee, by Al Drago/Bloomberg News

Legislation that would create certain “direct-pay” taxable municipal bonds as a way to finance public projects during the pandemic was recently introduced by two key senators.

Eugene Mulero | Senior Reporter
July 10, 2020
Business, Safety, Fuel

Oil Refineries in Texas Grapple With COVID-19 Outbreaks

A driver gets tested for coronavirus at a testing center in Austin, Texas, on July 7. A driver gets tested for coronavirus at a testing center in Austin, Texas, on July 7. (Sergio Flores/Getty Images)

Oil refineries aren’t being spared as COVID-19 sweeps through Texas, which is setting records for new infections and hospitalizations in the U.S. almost daily.

Barbara Powell | Bloomberg News
July 10, 2020

Pages