For countries that depend heavily on oil revenue, dropping prices are worrisome.
Tag: Organization of the Petroleum Exporting Countries
Exxon and Chevron Report Lower Profits While Girding for Tariffs
President Trump’s trade policies have helped to push down oil prices while raising the costs of materials for oil and gas companies.
Oil Prices Fall After OPEC Plus Affirms Plan to Raise Production
The Saudi-led cartel said its members would start gradually pumping more oil in April.
At a Glitzy Saudi Investment Forum, Almost No Mention of War
Saudi Arabia and its Gulf neighbors are seeking to reassure foreign investors that it’s still safe to do business amid the turmoil around the Mideast.
Oil Prices Fall After Israel Reportedly Says It Won’t Target Iran’s Nuclear or Oil Facilities
Brent crude, the international benchmark, was trading at below $74 a barrel on Tuesday, a drop from the $80 range.
Conflict Between Israel and Iran Adds to Oil Market Volatility
Israel and Iran are fighting at a time when prices are under pressure because of weak demand in China and concerns about oversupply.
OPEC Plus Delays Plan to Increase Oil Output
OPEC Plus will extend its cuts until at least December. Demand has weakened, and other countries, including the United States, are expected to continue to increase production.
Why Oil Prices Remain Subdued
Despite war in the Middle East and political turmoil in Libya, investors are focusing on what look like ample global supplies.
F.T.C. Clears Exxon Mobil’s Acquisition of Pioneer Natural Resources
The Federal Trade Commission will bar Pioneer’s chief executive, Scott Sheffield, from joining Exxon’s board, saying he colluded with OPEC to reduce oil production.
Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears
American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.