The collapse of the global oil market reflects a broader drop in demand across all areas of the economy, as business activity during the pandemic remains near a standstill. What caused this historic decline in oil prices, and what does…
Economic damage from the novel coronavirus pandemic has knocked the bottom out of the oil market. The cost of benchmark U.S. crude oil, for delivery in May, actually fell below zero -- dragging down the entire stock market. And in…
President Trump says he expects Saudi Arabia and Russia will end an oil war and dramatically cut production.
By Associated Press
For many of the oil-rich countries, 2020 was already off to a miserable start, but they took a beating on Monday-- a barrel of oil now costs half what it did at the beginning of the year. What happened?…
By Ryan Chilcote
By Sam Mednick, Associated Press
The oil industry in South Sudan has left a landscape pocked with hundreds of open waste pits, the water and soil contaminated with toxic chemicals and heavy metals, according to four environmental reports obtained by The Associated Press.
By Associated Press
The International Energy Agency expects demand for oil to fall by 435,000 barrels per day in the first quarter as a result of the virus outbreak from China. Any fall would be the first quarterly decline in a decade. The…
By Scott L. Montgomery, The Conversation
Oil traders therefore have much reason to be nervous. But they aren’t.
In Riyadh on Wednesday, Saudi Arabia showcased evidence it says proves Iran’s involvement in weekend airstrikes on two major Saudi oil facilities. Iran denies the claim, and given the strained relations between the two countries, how should the U.S. respond?…
In our news wrap Tuesday, Taliban suicide bombers killed at least 48 people and wounded scores more in two separate attacks in Afghanistan, one of which targeted President Ashraf Ghani’s election rally. The second deadly blast occurred near the U.S.
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