crude oil

Government, Business, Fuel, Logistics

Judge Orders Dakota Access Pipeline Shut Down Pending Review

President Trump signs one of five executive orders related to the oil pipeline industry in 2017. President Trump signs one of five executive orders related to the oil pipeline industry on Jan. 24, 2017. A federal judge on July 6 ruled that the Dakota Access Pipeline needed to cease operations in 30 days. (Shawn Thew/Bloomberg News)

A federal judge on July 6 sided with the Standing Rock Sioux Tribe and ordered the Dakota Access pipeline to shut down until more environmental review is done.

Dave Kolpack | Associated Press
July 6, 2020
Government, Business, Fuel, Logistics

OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand

Flames burn off an oil processing facility in Saudi Arabia in October 2018. Flames burn off an oil processing facility in Saudi Arabia in October 2018. (Simon Dawson/Bloomberg News)

OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.

Grant Smith and Julian Lee | Bloomberg News
July 1, 2020
Government, Business, Fuel, Logistics

Saudi Oil Cuts Take Seven Supertankers a Day Off the Market

Oil tankers are seen off the coast of California on May 1. Oil tankers are seen off the coast of California on May 1. (Patrick T. Fallon/Bloomberg News)

Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June.

Brian Wingfield | Bloomberg News
June 30, 2020
Government, Business, Safety, Fuel

Second Virus Wave Threatens US Oil Demand Again

Vehicles drive in light traffic along Pacific Coast Highway in Santa Monica, Calif., on March 19. Vehicles drive in light traffic along Pacific Coast Highway in Santa Monica, Calif., on March 19. (Patrick T. Fallon/Bloomberg News)

After months of empty roads, lockdowns were easing, and people were getting behind the wheel again. Then the virus struck again.

June 29, 2020
Government, Business, Fuel, Logistics

Oil Rises on Russian Export Cuts, Offsets Virus Demand Jitters

Oil refineries and storage tanks are seen from a boat off the coast of Singapore on May 25. Oil refineries and storage tanks are seen from a boat off the coast of Singapore on May 25. (Lauryn Ishak/Bloomberg News)

Oil prices rose after Russia slashed exports of its flagship crude Urals to the lowest in at least 10 years, signaling the determination of Moscow to work with its partners at OPEC+ to eliminate an oil glut.

Hailey Waller | Bloomberg News
June 25, 2020
Business, Fuel

Oil Hovers Near $40 With Investors Weighing Virus Against Demand

Emissions rise from an oil refinery in Louisiana on June 12. Emissions rise from an oil refinery in Louisiana on June 12. (Luke Sharrett/Bloomberg News)

Oil hovered near $40 a barrel in New York as investors weighed a resurgence in the coronavirus against signs of rebounding demand.

June 22, 2020
Government, Business, Fuel

US Slaps Sanctions on Mexican Companies Helping Venezuelan Oil

The sun sets over an oil refinery in Puerto Cabello, Venezuela. The sun sets over an oil refinery in Puerto Cabello, Venezuela. (Meridith Kohut/Bloomberg News)

The U.S. Treasury Department levied sanctions on Mexican trading company Libre Abordo SA de CV for buying Venezuelan oil via oil-for-humanitarian-aid agreements with the embattled country.

Lucia Kassai | Bloomberg News
June 19, 2020
Business, Safety, Fuel

Fears of Second Virus Wave Fizzle Oil Market

A platform supply vessel sits anchored next to a deepwater oil platform in the Gulf of Mexico. A platform supply vessel sits anchored next to a deepwater oil platform in the Gulf of Mexico. (Luke Sharrett/Bloomberg News)

Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery.

Ann Koh and Grant Smith | Bloomberg News
June 15, 2020
Business, Fuel

Texas Oil-Export Terminals Start Up Even as Shipments Tumble

An Iranian crude oil tanker sits anchored off the coast of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude.

Sheela Tobben | Bloomberg News
June 12, 2020
Business, Fuel

Oil Set for First Weekly Drop Since April on Second-Wave Fears

Oil storage tanks stand in Japan in April. Oil storage tanks stand in Japan in April. (Toru Hanai/Bloomberg News)

Oil is heading for its first weekly loss since April, when prices collapsed below zero.

June 12, 2020

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