FRANKFURT, Germany (AP) — OPEC and allied countries including Russia agreed Thursday to increase oil production by 500,000 barrels a day from January and said they would meet monthly to decide further output levels, gingerly adding more crude to a global economy still suffering from the COVID-19 pandemic. The decision followed days of wrangling over whether to increase output early …

FRANKFURT, Germany (AP) — OPEC and allied countries including Russia agreed Thursday to increase oil production by 500,000 barrels a day from January and said they would meet monthly to decide further output levels, gingerly adding more crude to a global economy still suffering from the COVID-19 pandemic. The decision followed days of wrangling over whether to increase output early …

The only Wells Fargo bank location in Hobbs closed its doors this week after an employee tested positive for COVID-19. On Monday, the Hobbs branch of Wells Fargo closed for two weeks after an unnamed employee tested positive for COVID-19. The bank will remain closed until Dec. 15, according to Franchesca Pancham, communications advisor for Wells Fargos in New Mexico. …

FRANKFURT, Germany (AP) — Leaders of the OPEC oil cartel adjourned their virtual meeting Monday on future production as no agreement was announced on whether to extend output cuts into next year. The OPEC nations, led by Saudi Arabia, will reconvene Tuesday, according to a short statement from the cartel’s Vienna headquarters. The talks will include additional members from a …

Three New Mexico cabinet secretaries in a live remote panel concluded the fourth EnergyPlex Conference last week with discussion of economic development, methane rules and legislative priorities. The Economic Development Corporation of Lea County sponsored and facilitated the conference that included both pre-recorded and live presentations. Economic Development Department Secretary Alicia Keyes credited the current coronavirus pandemic for giving special …

Three New Mexico cabinet secretaries in a live remote panel concluded the fourth EnergyPlex Conference last week with discussion of economic development, methane rules and legislative priorities. The Economic Development Corporation of Lea County sponsored and facilitated the conference that included both pre-recorded and live presentations. Economic Development Department Secretary Alicia Keyes credited the current coronavirus pandemic for giving special …

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s energy minister said Monday that global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation of continued weakened demand for oil as the coronavirus pandemic peaks again in Europe and the United States “OPEC has been and …

(AP) —  Democrat Joe Biden’s remark that he would “transition” away from oil in the U.S. in favor of renewable energy drew quick attention Thursday night from President Donald Trump, who saw it as a boon to his election chances in key states. “I would transition away from the oil industry, yes,” Biden said in the presidential debate’s closing minutes …

Like a phoenix rising, a popular Hobbs eatery will be reopening soon. Furr’s Buffet closed in the spring when all eateries in Hobbs shuttered their doors in response to the ongoing novel coronavirus pandemic. When it didn’t reopen as other restaurants received permission from the state to do so, there was speculation it might not. But in stepped Loi Tran, …

The New Mexico Oil and Gas Association (NMOGA) released a new report last week showing that New Mexico’s oil and natural gas industry supported 134,000 in-state jobs while adding $16.6 billion to New Mexico’s economy in 2018. According to the analysis, the industry accounted for 12% of statewide employment and 16% of the state’s economy. The report was prepared by …