Across the United States, companies are laying off workers, shutting down wells and preparing for a prolonged slump as oil prices tumble.
Tag: Production
OPEC and Russia Agree to Cut Oil Production
The reductions for May and June were smaller than some investors and analysts had expected, and oil prices gave up earlier gains.
Oil Companies on Tumbling Prices: ‘Disastrous, Devastating’
The use of gasoline and other fuels is dropping as Saudi Arabia and Russia increase production, sending oil prices to their lowest level in a generation.
Coronavirus Could End China’s Decades-Long Economic Growth Streak
The weakness raises the possibility that the Chinese economy may have shrunk in the first quarter of this year. It would be the first contraction since 1976.
How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy
Moscow refused to accept production cuts to offset the effect of the coronavirus outbreak. Now Saudi Arabia is trying an alternative: inflicting pain.
OPEC Scrambles to React to Falling Oil Demand From China
As the coronavirus hits China’s economy, threatening fuel demand, policymakers are weighing an emergency meeting to discuss cuts to crude output.
Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming
New supplies from Brazil, Canada, Guyana and Norway may add to a glut, posing a threat to producers in Saudi Arabia, Russia and the United States.
Trump’s Metals Tariffs Added Some Jobs and Raised Consumer Prices
There are few signs of the industrial renaissance the president promised from taxes on steel and aluminum imports.