oil

Business, Fuel

Permian Oil Nears Levels Not Seen Since Pandemic Start

Pumpjack in Oklahoma A pumpjack operates on an oil well in the Permian Basin near Orla, Texas. (Daniel Acker/Bloomberg)

The Permian Basin, the most prolific shale patch in the U.S., will produce crude oil at levels not seen since the start of the pandemic in the latest sign the global economy is heating back up.

Sheela Tobben | Bloomberg News
April 13, 2021
Business, Fuel

Oil Soars Above $66, Highest in Two Years

The silhouette of a pumpjack in the Permian Basin near Orla, Texas. (Daniel Acker/Bloomberg News) The silhouette of a pumpjack in the Permian Basin near Orla, Texas. (Daniel Acker/Bloomberg News)

Oil rallied to the highest in nearly two years in New York after OPEC+ shocked markets with a decision to keep supply limited as the global economy starts to recover from the pandemic-driven slump.

March 5, 2021
Government, Business, Fuel

Granholm Says Oil Industry Must Embrace Green Transition

Jennifer Granholm thanks the Senate Energy & Natural Resources Committee Jennifer Granholm thanks the Senate Energy & Natural Resources Committee after testifying at her confirmation hearing for Energy Secretary on Jan. 27. (Jim Watson/AFP via Bloomberg News)

Jennifer Granholm used her first speech as U.S. energy secretary to warn oil and gas companies they risk being left behind unless they embrace a transition to cleaner sources of energy, while offering them an opportunity to partner with the new administration.

Ari Natter | Bloomberg News
March 3, 2021
Government, Business, Fuel

Oil Extends Weekly Gain; Brent Pushes Toward $60 a Barrel

An oil pumping jack in Russia An oil pumping jack in Russia. (Andrey Rudakov/Bloomberg News)

Oil set a fresh one-year high in New York with continued producer supply curbs helping spur strength everywhere from physical markets to the futures curve.

February 5, 2021
Government, Business, Fuel

Oil Jumps to One-Year High on Depleting Supplies

Tanker trucks sit in front of storage silos in Sunray, Texas Tanker trucks sit in front of storage silos in Sunray, Texas. (Angus Mordant/Bloomberg News)

Oil climbed to the highest level in over a year as tightening global supplies and signs of strength in physical markets aided crude’s virus-recovery rally.

Andres Guerra Luz | Bloomberg News
February 2, 2021
Government, Business, Fuel

Biden Revokes Oil Drilling Permits for Additional Review

A truck passes a horizontal drilling rig in Lea County, N.M. A truck passes a horizontal drilling rig in Lea County, N.M. (Callaghan O'Hare/Bloomberg News)

The Biden administration is revoking dozens of invalid drilling permits issued by agency workers without the approval of political appointees, despite a temporary order for such reviews.

Jennifer A. Dlouhy | Bloomberg News
January 29, 2021
Government, Business, Fuel

Biden to Pause Oil Drilling on Public Lands

President Joe Biden by Evan Vucci/Associated Press President Joe Biden by Evan Vucci/Associated Press

WASHINGTON — President Joe Biden is set to announce a wide-ranging moratorium on new oil and gas leasing on U.S. lands, as his administration moves quickly to reverse Trump administration policies on energy and the environment and address climate change.

January 26, 2021
Government, Business, Fuel

Oil Jumps to Highest Mark Since February Amid Stimulus Optimism

Oil storage tanks in Port Fourchon, La. (Luke Sharrett/Bloomberg News) Oil storage tanks in Port Fourchon, La. (Luke Sharrett/Bloomberg News)

Oil surged to the highest mark in nearly 10 months in New York alongside a broader market rally as breakthroughs on U.S. stimulus talks combined with the COVID-19 vaccine rollout stoked optimism around a demand revival.

Andres Guerra Luz | Bloomberg News
December 15, 2020
Business, Fuel

‘External Source’ Causes Oil Tanker Blast Off Saudi Arabia

BW Rhine Undated photo of the Singapore-flagged oil tanker BW Rhine. (Tommy Chia/AERIAL PHOTOGRAPHER SG via AP)

DUBAI, United Arab Emirates — An oil tanker off Saudi Arabia’s port city of Jiddah suffered an explosion early Dec. 14 after being hit by “an external source,” a shipping company said.

Jon Gambrell | Associated Press
December 14, 2020
Government, Business, Fuel

Oil Ekes Out Weekly Gain After Retreating From Nine-Month High

Oil Andrey Rudakov/Bloomberg News

Oil just managed a weekly gain as an impasse in Washington over pandemic relief dimmed chances of an imminent boost to demand.

Andres Guerra Luz | Bloomberg News
December 11, 2020

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