The big international oil companies are reporting one of their worst annual performances in decades and signaling that the pandemic could continue to challenge their businesses in 2021. Exxon Mobil Corp. XOM 1.58% and BP BP -6.57% PLC on Continue Reading
Oil giants Exxon and BP reported staggering losses for 2020 on Tuesday as the pandemic crushed energy demand and undercut oil prices. Exxon Mobil Corp. reported the largest losses in Continue Reading
BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year’s historic slump. The Western world’s largest energy producers were supposed to be sailing Continue Reading
This week’s winter storm is part of a pattern caused by disturbances to the upper-atmosphere phenomena known as the polar vortex that can send icy blasts from the Arctic into the middle Continue Reading
Construction crews work at the scene where a section of Highway 1 collapsed into the Pacific Ocean near Big Sur, California on Jan. 31, 2021. Credit: Josh Edelson/AFP via Getty Continue Reading
Oil shipments from OPEC’s Persian Gulf producers slipped last month, even as output restrictions were eased and production volumes increased. Combined shipments of crude and condensate — a light form of oil extracted from Continue Reading
OPEC+ expects global oil demand to rise by 5.6 million barrels per day (bpd) this year—lower estimated growth than OPEC’s assessment of 5.9-million-bpd demand increase from less than three weeks Continue Reading
OPEC+ ministers will convene Feb. 3 for a monitoring committee meeting that could provide the first signs of whether festering divisions will re-emerge when the alliance must decide how much Continue Reading
Iran has agreed to free the 20-member crew of a seized South Korea-flagged ship, both countries said Tuesday, in what appeared to be the first significant gesture by the Iranians Continue Reading
Global energy markets and industry insiders believe that it was a good idea for Saudi Arabia to slash oil production by one million barrels daily until the end of March Continue Reading
