Business, Fuel

Oil Breaches $50 as Worldwide Energy Demand Outlook Brightens

Employees torque a pipe at a wedge well at Cenovus Energy's Christina Lake in situ oil production facility in Conklin, Alberta, Canada. Brent Lewin/Bloomberg News

Oil topped $50 a barrel for the first time and closed at a six-week high amid heightened optimism that a demand resurgence is in the offing.

Jessica Summers | Bloomberg News
September 14, 2017
Business, Fuel

US Oil Output to Hit a Record in 2018


The Energy Information Administration said domestic output of crude oil will climb to a record 9.96 million barrels a day in 2018, up from 9.9 million barrels projected last month, according to the agency’s monthly Short-Term Energy Outlook released May 9.

Mark Shenk | Bloomberg News
May 9, 2017
Business, Fuel

US Petroleum Exports Climb to Record as Crude Output Grows

Brittany Sowacke/Bloomberg News

The year 2017 started off with a bang for American oil companies as total crude and petroleum products exports rose to a record 5.69 million barrels a day in January, government data show.

Laura Blewitt | Bloomberg News
April 3, 2017
Business, Fuel

Oil Drops as US Drilling Growth Threatens to Counter OPEC Cuts

Daniel Acker/Bloomberg News

Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market.

March 20, 2017
Business, Fuel

Oil Executives Are Confident That the Future Is Bright

BP CEO Robert Dudley. Photo by Christophe Morin/Bloomberg News

Oil prices are down nearly 10% over the past month, leading some to wonder if we're set for a resumption of the plunge seen between 2014 and early 2016. Executives at oil companies, however, are optimistic.

Julie Verhage | Bloomberg News
March 13, 2017
Business, Fuel

Oil Trades Below $50 After US Supply Glut Erases OPEC's Gains

Daniel Acker/Bloomberg News

West Texas Intermediate crude traded below $50 a barrel after surging U.S. supplies wiped out gains in the three months since OPEC’s decision to cut output.

Mark Shenk and Grant Smith | Bloomberg News
March 10, 2017
Business, Fuel

Oil Slumps to Lowest This Year as Traders Focus on Record Supply

Daniel Acker/Bloomberg News

Oil slumped more than 5% to the lowest close this year after government data showed production cuts from OPEC and other producers have not been enough to reduce U.S. supplies.

Justin Sink | Bloomberg News
March 8, 2017
Business, Fuel

Oil Declines on Projected US Crude, Gasoline Supply Gains

Patrick T. Fallon/Bloomberg News

Oil dropped to the lowest in more than two weeks amid estimates that U.S. crude and gasoline inventories continue to climb.

Mark Shenk | Bloomberg News
February 7, 2017
Business, Fuel

Oil Dips After Unexpected US Crude Inventory Build

Luke Sharrett/Bloomberg News

Oil futures dipped on Dec. 29 after a surprise build in U.S. crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July 2015.

Catherine Ngai | Reuters
December 29, 2016
Business, Fuel

Oil Extends Gains as Industry Report Shows US Stockpile Drop

Patrick T. Fallon/Bloomberg News

Oil extended its advance as industry data showed U.S. crude stockpiles declined last week.

Grant Smith and Mark Shenk | Bloomberg News
December 21, 2016