Oil prices have risen sharply over the last few months. Normally, that's a recipe for a drilling frenzy from U.S. oil producers. But something strange is happening, or rather, not happening.Read More
OPEC and its allies said Thursday they are keeping oil production largely steady, even as crude prices stage a remarkable recovery, betting that a restrained approach will lay the groundwork for prices to climb even more.Read More
Heavy snowfall, ice storms and bitter temperatures continue to put an enormous strain on the state's power grid. This as the Electric Reliability Council of Texas (ERCOT), which manages roughly 75% of the Texas power grid, announced Wednesday morning that some 600,000 households had power restored overnight.Read More
Set aside the pandemic. Ignore the collapse in demand. Forget about the time oil prices went negative. Look at everything else that happened this year, and — Well. Oil still had a pretty terrible year.Read More
Just two weeks before President-elect Joe Biden takes office, the Trump administration is trying to lock-in oil and gas drilling in Alaska's Arctic National Wildlife Refuge with a hastily scheduled and controversial lease sale. But despite the high stakes, uncertainty looms over how much oil is actually trapped under the million acres of tundra up for leasing, and how much Read More
Exxon, which usually avoids writing down assets, has announced its largest-ever impairment after canceling plans for natural gas projects in the Americas. Read More
Officials hope to auction off leases before President-elect Joe Biden takes office. He has pledged to protect the pristine landscape that's home to polar bears and migrating caribou. Read More
When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty. Read More
