crude oil

Business, Fuel, Top 100

Stocks Sink Under Weight of Another Collapse in Oil Prices

Oil storage tanks stand in Tuapse, Russia, on March 23. Oil storage tanks stand in Tuapse, Russia, on March 23. (Andrey Rudakov/Bloomberg News)

Stocks have fallen in early trading on Wall Street April 20, as energy stocks get hammered by the latest collapse in the price of oil.

Stan Choe | Associated Press
April 20, 2020
Government, Business, Fuel

Oil Drops to 18-Year Low on Record Demand Collapse

Pipelines run near oil storage tanks in Cushing, Okla., in 2015. Pipelines run near oil storage tanks in Cushing, Okla., in 2015. (Daniel Acker/Bloomberg News)

Oil plunged to the lowest in two decades amid a record collapse in U.S. fuel demand and the biggest-ever weekly build in domestic crude supplies.

Robert Tuttle | Bloomberg News
April 15, 2020
Government, Business, Fuel

Saudi Oil Keeps Flooding Market With Output Pact Yet to Begin

An employee looks out over a facility in Saudi Aramco's oilfield in Shaybah, Saudi Arabia. An employee looks out over a facility in Saudi Aramco's oilfield in Shaybah, Saudi Arabia. (Simon Dawson/Bloomberg News)

Saudi Arabia and other Gulf suppliers may have agreed to cut oil production again starting next month, but by all indications the taps are set to remain wide open until then — swelling stockpiles for at least a few more weeks.

April 15, 2020
Government, Business, Fuel

OPEC, Oil Nations Agree to Nearly 10 Million Barrel Cut Amid Virus

In this photo released by Saudi Energy Ministry, Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, third right, chairs a virtual summit in Saudi Arabia on April 10. Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, third right, chairs a virtual summit of the G20 energy ministers in Saudi Arabia on April 10. (Saudi Energy Ministry via AP)

OPEC, Russia and other oil-producing nations on April 12 finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said.

April 13, 2020
Government, Business, Fuel

Mexico Strikes Deal With US, Paving Way for OPEC Output Cuts

The sun sets behind an idle pump jack near Karnes City, Texas, on April 8. The sun sets behind an idle pump jack near Karnes City, Texas, on April 8. (Eric Gay/Associated Press)

Mexico says it has reached an agreement with the United States that will allow it to agree to a deal on production cuts with OPEC, Russia and other countries.

Jon Gambrell | Associated Press
April 10, 2020
Government, Business, Fuel

Oil Soars After Trump Says Saudis and Russia Will Cut Production

A drilling platform off the coast of Norway. (Carina Johansen/Bloomberg News)

Oil soared after President Trump said that he expects Saudi Arabia and Russia to cut output back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman.

April 2, 2020
Government, Business, Fuel

Oil Tanks at Vital Africa Hub Almost Full as Crude Floods Market

An oil storage tank during construction in Saldanha Bay, South Africa, in 2019. An oil storage tank during construction in Saldanha Bay, South Africa, in 2019. (Waldo Swiegers/Bloomberg News)

Oil tanks at one of the world’s largest storage hubs on Africa’s southern tip already are almost full, limiting traders’ options as a historic flood of crude hits the market.

April 2, 2020
Government, Business, Fuel

Trump: World’s Biggest Oil Producers to Meet on Market Crash

Lights illuminate oil storage tanks at the RN-Tuapsinsky refinery, in Tuapse, Russia, on March 22. Lights illuminate oil storage tanks at the RN-Tuapsinsky refinery, in Tuapse, Russia, on March 22. (Andrey Rudakov/Bloomberg News)

President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching a historic plunge in oil prices.

April 1, 2020
Government, Business, Fuel

Canadian Crude Now Costs More to Ship Than to Buy

Water is pumped into a tailings pond at the Suncor Energy Steepbank mine in Fort McMurray, Alberta, in September 2018. Water is pumped into a tailings pond at the Suncor Energy Steepbank mine in Fort McMurray, Alberta, in September 2018. (Ben Nelms/Bloomberg News)

Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.

Robert Tuttle | Bloomberg News
March 27, 2020
Government, Business, Fuel

Projections Show World Could Run Out of Places to Store Oil

Oil tanker trucks sit parked beside storage silos in Germany in June 2019. Oil tanker trucks sit parked beside storage silos in Germany in June 2019. (Alex Kraus/Bloomberg News)

The world will run out of places to store oil in as little as three months, according to an industry consultant.

Alex Longley | Bloomberg News
March 26, 2020

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