crude oil

Business, Fuel

Deep-Freeze Issues Linger at US Refineries

A Valero Energy Corp. refinery in Texas is seen on Feb. 19. (Eddie Seal/Bloomberg News) A Valero Energy Corp. refinery in Texas is seen on Feb. 19. (Eddie Seal/Bloomberg News)

Texas’ refining complex is mostly back from February’s crippling cold blast, but lingering freeze-related issues continue to plague a number of production units.

Barbara Powell | Bloomberg News
April 2, 2021
Government, Business, Fuel

Oil Rises After OPEC+ Agrees to Boost Output Gradually

Russian oil pumping jacks operate in November 2020. (Andrey Rudakov/Bloomberg News) Russian oil pumping jacks operate in November 2020. (Andrey Rudakov/Bloomberg News)

Oil rose after the OPEC+ alliance agreed to increase oil production gradually over the next three months.

April 1, 2021
Government, Business, Fuel, Logistics

Oil Rises for Second Day With Focus Moving Toward OPEC+ Meeting

A crude oil tanker sails through the Persian Gulf. (Ali Mohammadi/Bloomberg News) Ali Mohammadi/Bloomberg News

Oil climbed to the highest in almost two weeks as traders looked ahead to this week’s OPEC+ meeting with speculation that renewed demand concerns will spur the group to keep production in check.

March 29, 2021
Business, Fuel

Oil Production Slumps by Record 40% as Permian Freezes

Pump jacks operate in the Permian Basin in Midland, Texas, on Feb. 13. (Matthew Busch/Bloomberg News) Pump jacks operate in the Permian Basin in Midland, Texas, on Feb. 13. (Matthew Busch/Bloomberg News)

Total U.S. oil production has plunged by close to 40% — the most ever — as an unprecedented cold blast freezes well operations across the central U.S., according to traders and industry executives with direct knowledge of the operations.

February 17, 2021
Business, Fuel

Arctic Blast Cuts US Oil Output by 2 Million Barrels a Day

Pump jacks operate in the Permian Basin in Midland, Texas, Feb. 13, 2021. (Matthew Busch/Bloomberg News) Pump jacks operate in the Permian Basin in Midland, Texas, Feb. 13. (Matthew Busch/Bloomberg News)

U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts.

February 16, 2021
Business, Fuel

Oil Slips With Global Viral Resurgence Highlighting Demand Risks

An oil pumping jack operates in an oilfield in Russia in November 2020. An oil pumping jack operates in an oilfield in Russia in November 2020. (Andrey Rudakov/Bloomberg News)

Oil ended a choppy session lower with worsening global coronavirus outbreaks accentuating concerns over a demand rebound.

January 21, 2021
Government, Business, Fuel

Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts

Iranian oil tanker Grace 1 sits anchored off the Strait of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.

Alex Longley | Bloomberg News
January 20, 2021
Business, Fuel

Oil Slumps on Dollar Strength, Cooling Consumer Sentiment

Emissions rise from an oil refinery in Norco, La., in June 2020. (Luke Sharrett/Bloomberg News) Emissions rise from a refinery in Norco, La., in June 2020. (Luke Sharrett/Bloomberg News)

Oil slid by the most in three weeks as a stronger dollar and weak U.S. economic data stoked concerns over an economic rebound.

Andres Guerra Luz | Bloomberg News
January 15, 2021
Government, Business, Fuel

Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less

The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. (Dana Smillie/Bloomberg News)

Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.

January 13, 2021
Government, Business, Fuel, Logistics

Exports Boosted US Shale Market, but Long-Term Demand Uncertain

The Theo T oil tanker sits docked at a facility in Corpus Christi, Texas, in December 2015. The Theo T oil tanker sits docked at a facility in Corpus Christi, Texas, in December 2015. (Bloomberg News)

These past five years could very well go down as the best years that U.S. shale oil exporters will ever see.

January 12, 2021

Pages