HOUSTON (AP) — Occidental Petroleum Corp. (OXY) on Tuesday reported a first-quarter loss of $2.01 billion, after reporting a profit in the same period a year earlier. The Houston-based company said it had a loss of $2.49 per share. Losses, adjusted for non-recurring costs, were 52 cents per share. The results missed Wall Street expectations. The average estimate of nine …

NEW YORK (AP) — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in the first quarter, down 126% from the same time last year, the Irving, Texas oil giant said Friday. Revenue was $56.16 billion, down 12% from the same quarter in 2019. …

Schlumberger Ltd. has pulled out of the Hobbs area. The company doors were shuttered on Friday with a skeleton crew inside the fence claiming they were unable to speak to the press. There were only about a dozen private vehicles in the company parking lot. After several calls and emails, Schlumberger corporate office released the following statement: “The world is …

LONDON (AP) — Global demand for oil will fall this year by the most ever due to the economic lockdowns enforced around the world to contain the coronavirus pandemic, the International Energy Agency said Wednesday. An estimated drop in demand of 9.3 million barrels a day this year is equivalent to a decade’s worth of growth. The agency, which advises …

DUBAI, United Arab Emirates (AP) — OPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said. The cartel and other nations agreed to allow Mexico to cut only 100,000 barrels …

DUBAI, United Arab Emirates (AP) — OPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said. The cartel and other nations agreed to allow Mexico to cut only 100,000 barrels …

DUBAI, United Arab Emirates (AP) — The OPEC oil cartel and nations including Russia have agreed to boost oil prices by cutting as much as 10 million barrels a day in production, or a tenth of global supply. More countries, including the United States, were discussing Friday their own cuts in what would be an unprecedented global pact to stabilize …

MOSCOW (AP) — Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets and pushed energy companies toward bankruptcy. Thursday’s videoconference is part of a series of talks on stabilizing …

What does toilet paper have to do with a global pandemic? Nothing. Yet millions of people have been panicking about their household supply. Stores shelves have been emptied. Amazon is often out of stock. And social media is bursting with jokes and pleas for a roll or two. The good news: Things are calming down, at least in the U.S., …

TEHRAN, Iran (AP) — Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia and others seeking to boost global energy prices. The meeting of the so-called OPEC+ is scheduled to be held Thursday after officials delayed it following Saudi Arabia criticizing Russia over its comments about the price collapse. A …