crude oil

Business, Fuel

Oil Trading Profits Soar for Energy Majors Who Made Storage Bets

Storage tanks located near a dock in Port Fourchon, La., on June 11. Storage tanks located near a dock in Port Fourchon, La., on June 11. (Luke Sharrett/Bloomberg News)

In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing the opposite of what oil companies usually do: pumping as much crude as possible underground into giant caverns on the nation’s North Sea coast.

July 24, 2020
Business, Fuel, Top 100

Schlumberger Shrinks Staff to Lowest Since Pre-Shale Era

Oil pumpjacks stand outside Odessa, Texas. Oil pumpjacks stand outside Odessa, Texas. (Sergio Flores/Bloomberg News)

Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of COVID-19 could derail the nascent recovery in global energy demand.

David Wethe | Bloomberg News
July 24, 2020
Business, Fuel

Brent Crude Rises to Four-Month High on Recovery Hopes

A staircase ascends a storage tank in Port Fourchon, La., on June 11. A staircase ascends a storage tank in Port Fourchon, La., on June 11. (Luke Sharrett/Bloomberg News)

Oil climbed to the highest level since early March in London on July 21 as hopes for an economic recovery from the coronavirus crisis lifted financial markets.

Grant Smith and Sharon Cho | Bloomberg News
July 21, 2020
Business, Fuel

Chevron to Buy Noble for $5 Billion in Rare Oil-Bust Deal

Chevron sign Kyle Grillot/Bloomberg News

Chevron Corp. agreed to buy Noble Energy Inc. for about $5 billion in shares as the oil giant looks to beef up in the Permian Basin amid the wreckage of the worst crude crash.

July 20, 2020
Business, Fuel

Oil Prices Tumble on Economic News, Cloudy Recovery

Emissions rise from an oil refinery in Plock, Poland, on July 17. Emissions rise from an oil refinery in Plock, Poland, on July 17. (Bartek Sadowski/Bloomberg News)

Oil prices recently tumbled as a resurgence in coronavirus cases and impending U.S. layoffs darken the economic outlook.

Andrew Marquardt | Bloomberg News
July 17, 2020
Government, Business, Fuel

Oil Slips as Looming OPEC Supply Surge Adds to Demand Woes

An oil rig stands in Cromarty, U.K., on June 23. An oil rig stands in Cromarty, U.K., on June 23.(Jason Alden/Bloomberg News)

Oil snapped its two-day rally amid a weaker demand outlook underscored by the OPEC+ alliance’s decision to taper production cuts and U.S. economic data signaling a slowing recovery in the labor market.

Andres Guerra Luz | Bloomberg News
July 16, 2020
Government, Business, Fuel

Oil Jumps After Trump Leans Against Further Chinese Sanctions

A mobile offshore drilling unit stands at night offshore Cromarty, U.K., on June 23. A mobile offshore drilling unit stands at night in Cromarty, U.K., on June 23. (Jason Alden/Bloomberg News)

Oil jumped to a four-month high after President Donald Trump indicated that he doesn’t want to add more sanctions against Chinese officials for now in a move to diffuse tensions with Beijing.

Hailey Waller | Bloomberg News
July 15, 2020
Government, Business, Fuel

Oil Falls on Signs OPEC+ Will Taper Cuts

An employee looks out over a Saudi Aramco facility in Saudi Arabia. An employee looks out over a Saudi Aramco facility in Saudi Arabia. (Simon Dawson/Bloomberg News)

Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries, including the U.S.

Hailey Waller | Bloomberg News
July 13, 2020
Business, Fuel

Crude Oil Pares Weekly Decline on Optimism Over Virus Treatment

A silhouetted pumpjack. (Taylor Weidman/Bloomberg News)

Oil rebounded as a new virus treatment showed promising results, but rising COVID-19 cases continued to weigh on the market.

July 10, 2020
Business, Safety, Fuel

Oil Refineries in Texas Grapple With COVID-19 Outbreaks

A driver gets tested for coronavirus at a testing center in Austin, Texas, on July 7. A driver gets tested for coronavirus at a testing center in Austin, Texas, on July 7. (Sergio Flores/Getty Images)

Oil refineries aren’t being spared as COVID-19 sweeps through Texas, which is setting records for new infections and hospitalizations in the U.S. almost daily.

Barbara Powell | Bloomberg News
July 10, 2020

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