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 …

Selling your product at a loss is a poor way to do business. Oilfield experts applauded New Mexico State Land Commissioner Stephanie Garcia Richard for proposing a rule change to temporarily allow operators to turn off the pump where they choose. Citing the current oil price crash, Garcia Richard announced the State Land Office would initiate emergency rulemaking processes to …

As we go through the coronavirus crisis, we are all, first and foremost, concerned about the health of our loved ones and communities. But the economic implications of the virus have also weighed heavily on our minds. However, if you’re an investor or a business owner, you just got some help from Washington – and it could make a big …

As we go through the coronavirus crisis, we are all, first and foremost, concerned about the health of our loved ones and communities. But the economic implications of the virus have also weighed heavily on our minds. However, if you’re an investor or a business owner, you just got some help from Washington – and it could make a big …

IRVING, Texas – ExxonMobil said today said it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion. …