Apr 20 Watch 4:40 Troubled global oil market tanks amid pandemic's drop in demand 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… Continue watching
Apr 12 OPEC, oil nations agree to nearly 10M barrel cut amid virus By Jon Gambrell, Associated Press 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. Continue reading
Apr 10 Watch 2:47 News Wrap: Oil producers agree to cut global supply In our news wrap Friday, members of OPEC, along with Russia and Mexico, agreed to cut global oil production by up to 10 million barrels a day, or a tenth of the world supply. It’s an effort to stabilize oil… Continue watching
Apr 09 Oil-producing nations seek global deal to stabilize market By Daria Litvinova, Associated Press Oil-producing countries including those of the OPEC cartel and Russia are trying to limit a crash in prices that, while welcome for consumers, has been straining government budgets and pushed energy companies toward bankruptcy. Continue reading
Apr 03 Putin suggests sizable oil production cut as prices fall By Associated Press Russian President Vladimir Putin says he supports cutting oil production by about 10 million barrels a day to shore up falling prices. Continue reading
Mar 10 Why Russia just torpedoed global oil prices By Ryan Chilcote 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?… Continue reading
Dec 06 Watch 6:13 News Wrap: Gunman who killed 3 at Fla. air station was member of Saudi Air Force In our news wrap Friday, Florida officials confirmed that a gunman who killed three people at Naval Air Station Pensacola was a member of the Saudi Air Force. The attack happened in a classroom where the suspect was undergoing aviation… Continue watching
Dec 06 OPEC nations and Russia agree to cut oil output to lift prices By David McHugh, Associated Press The nations have agreed to cut their crude production by an extra 500,000 barrels a day. Continue reading
Dec 07 Watch 5:22 News Wrap: House committees interview Comey privately In our news wrap Friday, the House Judiciary and Oversight Committees interviewed former FBI director James Comey in a closed-door deposition, as House Republicans investigate FBI actions during the 2016 presidential campaign. Plus, the man who killed a woman after… Continue watching
Dec 06 OPEC delays decision to cut oil production amid falling prices By Kiyoko Metzler, Carlo Piovano, Associated Press Crude prices have been falling since October because major producers are pumping oil at high rates and due to fears that weaker economic growth could dampen energy demand. Continue reading