crude oil

Business, Technology, Equipment, Fuel

Electric Vehicles Could Displace 8 Million Barrels of Oil Per Day by 2040

Scania CV AB

An energy transition is underway. Solar and wind are being added in ever-greater numbers. Electric vehicles are becoming more commonplace. Meanwhile, policy makers are grappling with the right mix of policies to pay for it all.

November 29, 2017
Business, Equipment, Fuel

Oil Climbs to Two-Year High as Stockpiles Fall Before OPEC Meets

Jim Gehrz/Minneapolis Star Tribune/MCT

Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts.

Ben Sharples and Grant Smith | Bloomberg News
November 22, 2017
Business, Fuel

US Oil Rises to 10-Month High as Stockpiles Seen Dropping

A freight trail full of tanker cars hauling crude oil crosses the plains near Trenton, N.D. Kevin G. Hall/MCT

Oil rose to the highest level since early January in New York on expectations that government data will confirm another drop in U.S. crude inventories as the global surplus recedes.

Grant Smith | Bloomberg News
November 1, 2017

Oil Set for Weekly Rise Amid Optimism on Re-Balancing Process

J. N. Stuart/Flickr;

Oil climbed Oct. 13 as dwindling U.S. crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding.

Jessica Summers | Bloomberg News
October 13, 2017
Business, Fuel

Oil Gains as Irma Weakens to Storm While US Refining Returns

Plywood covers the doors of a 7-Eleven Inc. store ahead of Hurricane Irma in Madeira Beach, Fla. Daniel Acker/Bloomberg News

Oil rose as Irma weakened to a tropical storm after hitting Florida, while Gulf Coast refining continued to recover following storm Harvey.

Grant Smith | Bloomberg News
September 11, 2017
Business, Fuel

US to Release Oil From Strategic Reserve Due to Harvey

crude oil pumpjacks Daniel Acker/Bloomberg News

The U.S. government is releasing half-a-million barrels of crude oil from the Strategic Petroleum Reserve to a Gulf Coast refinery as the region’s refining industry works to recover from the devastation of Harvey.

August 31, 2017
Business, Fuel

Harvey Knocks Out More Refineries, Shifting Global Oil Flows

Flint Hills Resources oil refinery near downtown Houston The Flint Hills Resources oil refinery near downtown Houston on Aug. 29, 2017. (David J. Phillip/AP)

DALLAS — Hurricane Harvey is sending pump prices higher for U.S. motorists and causing temporary shifts in the flow of oil and gasoline around the world after taking down a huge chunk of U.S. refining capacity.

David Koenig | Associated Press
August 30, 2017
Business, Fuel

Harvey Could Have Deep Impact on Texas Oil, US Economy

truck immersed in floodwaters After helping the driver of the submerged truck get to safety, a man floats on the freeway flooded by Tropical Storm Harvey on Aug. 27, near downtown Houston. (Charlie Riedel/AP)

Massive flooding caused by Tropical Storm Harvey along Texas’ refinery-rich coast could have long-standing and far-reaching consequences for the state’s oil and gas industry and the larger U.S. economy.

Marcy Gordon | AP Business Writer
August 27, 2017
Business, Logistics, TCA

Oil Company Beefs Up Infrastructure to Get Trucks Off Crowded Roads

Noble Energy Noble Energy

For many drillers in the remote Delaware Basin, a section of the broader Permian Basin that stretches across West Texas and New Mexico, the only way to get crude from the fringes of oil boom towns to global markets is to dispatch fleets of trucks to scattered wells, from where they haul oil and water to terminals and various other collection points.

Collin Eaton | Houston Chronicle
August 14, 2017
Business, Fuel

Oil Poised for Weekly Decline Amid Weaker Demand Outlook

Pump Jack Eric Gay/Associated Press

Oil slipped, heading for the biggest weekly loss in a month, as the outlook for demand dimmed in an already shaky market.

Jessica Summers | Bloomberg News
August 11, 2017