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 …

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. …

WASHINGTON (AP) — President Donald Trump offered assurances of better times and coronavirus tests to oil CEOs at a White House summit Friday, but no firm proposals for easing the industry’s way as the coronavirus pandemic and plunging petroleum prices threaten America’s yearslong fracking boom. Executives of Chevron, Exxon and other large and medium-size petroleum companies and industry trade groups, …

It’s March 17, and A.J. De Los Santos is stressing out over the news. Lorena Castillo and Becca Titus were right behind him on the stress-o-meter. As the staff of United Way of Lea County, they just learned that the United Way worldwide organization sent down a decree that each local non-profit agency needs to immediately create a Community Crisis …

LOVINGTON — Over the top in December and January. “Lea County is now officially the No. 1 oil and gas producer in the U.S.,” said County Chairwoman Rebecca Long on Thursday. “We have the final numbers in for December and January, both.” With the latest data available, County Finance Director Chip Low said earlier this month the numbers for December …

WASHINGTON (AP) — The Trump administration said Thursday it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally. President Donald Trump had directed the Energy Department last week to fill the United States’ emergency stash of crude oil to the top, over objections from …

HOUSTON (AP) — Halliburton will institute a mandatory furlough for 3,500 employees in Houston beginning next week amid falling oil prices. The furlough will begin Monday and will last up to 60 days, company spokeswoman Emily Mir said Wednesday. During the furlough, affected employees will work one week on followed by one week off, the Houston-based company said. Employees will …

FRANKFURT, Germany (AP) — A clash of the oil titans – Saudi Arabia and Russia – is sending shock waves through energy markets, with wide-ranging implications for consumers and oil companies, including those in the No. 1 producing country, the United States. In the short term, oil prices fell by the most in one day since the 1991 Gulf War. …