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.

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.

December 21, 2016