crude oil

America turned into a net oil exporter the week of Nov. 26, breaking 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what President Donald Trump has branded as “energy independence.”

Oil traded near a six-month low as the prospects of a tight global market at the end of the year further receded after the U.S. softened the restart of sanctions against Iran.

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.

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