crude oil

Government, Business, Fuel

Canadian Producers Turn to Oil Trucks as Supply Glut Grows

Tanker Truck Randy L. Rasmussen/Associated Press

Tanker trucks laden with oil are journeying almost 500 miles to pipeline and rail terminals. It’s a phenomenon that Ken Boettcher, president of Three Star Trucking Ltd. in Alida, Saskatchewan, started to see three or four months ago when oil shippers around Kindersley, near the Alberta border, began requesting trucks to move their crude, in some cases, as far south as North Dakota.

Robert Tuttle | Bloomberg News
October 31, 2018
Business, Fuel

BP Breaks From Peers to Unleash Cash Bet on Oil Staying High

BP Matthew Lloyd/Bloomberg News

BP is gearing up to leave European competitors in the dust, at least when it comes to spending the oil industry’s enormous cash pile. While Total SA and Equinor ASA signaled last week they still are keeping a tight rein on spending, BP showed Oct, 30 it is prepared to take some risks.

Kelly Gilblom | Bloomberg News
October 30, 2018
Business, Fuel

Oil Falls Most in Eight Weeks as Investors Avoid Risky Assets

Oil refinery Jonathan Alcorn/Bloomberg News

Crude posted the biggest decline in eight weeks as a risk-off sentiment spread through global markets. Futures tumbled 3% in New York on Oct. 11. Investors eyed a sixth day of U.S. equity losses along with heightened volatility.

Jessica Summers | Bloomberg News
October 11, 2018
Business, Safety, Fuel

Fort Hills Mine Signals Path for Oil-Sands Revival in Alberta

Fort Hills Williams speaks during a grand opening event for the Suncor Fort Hills oil-sands extraction site near Fort McKay, Alberta. (Ben Nelms/Bloomberg News)

A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments.

Robert Tuttle | Bloomberg News
September 11, 2018
Government, Business, Fuel

Oil Demand Seen Peaking by 2023 While Climate Targets Are Missed

Trucks transporting oil exit a Valero facility Luke Sharrett/Bloomberg News

Within 20 years, oil use will have long since peaked, renewables and natural gas will account for about half of energy supply and the cost of keeping the lights on will plummet. But that still won’t be enough to meet climate goals, according to a forecast from energy and maritime services company DNV GL Group AS.

Kelly Gilblom | Bloomberg News
September 10, 2018
Government, Business, Fuel

Airlines Are Stepping Up Oil Hedges Before 2020 Shipping Rule Bites

2020 Shipping Rule Cargo planes. (Lajos Jardai/Bloomberg News)

Airlines are starting to hedge against the risk that fuel prices could be driven higher by rules targeting another industry’s environmental performance.

Alex Longley | Bloomberg News
September 6, 2018
Government, Business, Fuel

China Shipowners Stop Hauling Iranian Oil as US Sanctions Near

Iranian Oil Iranian oil workers gather at an oil refinery south of Tehran, Iran. (Vahid Salemi/Associated Press)

China’s shipowners are shunning Iran’s oil, while the OPEC producer is using its own tankers to supply top customers as impending U.S. sanctions threaten to disrupt global crude trade.

August 21, 2018
Government, Business, Fuel

Shipping-Fuel Rule Change Cuts Demand for Canadian Oil

TransCanada's Hardisty Terminal 1 TransCanada's Hardisty Terminal 1. (Brett Gundlock/Bloomberg)

New rules limiting the amount of sulfur allowed in shipping fuel is expected to cut demand for high-sulfur fuel oil and the sour crude that yields it. In Canada, that could extend — or worsen — the biggest price slump in nearly five years.

Robert Tuttle | Bloomberg News
August 14, 2018
Business, Fuel, Logistics

Pilot Flying J Expands Into Oil Exploration and Production Business

Pilot tanker truck on the road John Sommers II for Transport Topics

Pilot Flying J is expanding its business portfolio with a move into the water, sand and crude oil-hauling business.

Dan Ronan | Associate News Editor
August 8, 2018
Government, Business, Fuel

US Expected to Become World’s Top Oil Producer Next Year

Oilfield in Bakersfield, Calif. Al Seib/Los Angeles Times/TNS

The United States has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world’s biggest oil producer for the first time in more than four decades.

David Koenig | Associated Press
July 13, 2018