Oil

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US Coast Guard The source of the oil isn’t immediately clear, according to the US Coast Guard. CNN  —  The oil sheen spotted in the Southern California waters of Huntington Beach appeared to be gone Saturday as crews worked to clean up tar that washed ashore, officials said. Officials conducting a helicopter flyover Saturday morning […]

By Myra P. Saefong Survey shows February OPEC+ compliance rate of 97.8% with voluntary output cuts Oil futures declined on Friday, contributing to an overall loss for the week, as downward revisions to previous U.S. monthly jobs data raised concerns over the strength of the economy, and demand for oil. Price . . .

A missile attack by Yemen’s Houthi rebels on a commercial ship in the Gulf of Aden killed at least two people on Wednesday and forced the rest of the crew to abandon the vessel, according to U.S. officials. The attack came a day after a U.S. Navy destroyer shot down drones and a missile launched toward the […]

US military says Iran-aligned group is being reckless with attacks on shipping in the Red Sea off Yemen’s shores. The United States military has warned of an “environmental disaster” after an attack by Yemen’s Houthi rebels on a cargo ship caused an oil slick in the Red Sea. The Iran-aligned group hit the United Kingdom-owned, […]

(The Center Square) – Domestic oil production in the U.S. reached a new record in November of 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information Administration. The previous record was 13.25 million barrels per day. That was set in September 2023. Production of crude oil in the U.S. […]

(Bloomberg) — Oil fell after US crude inventories increased the most since November, swelling even more than an industry-funded report had indicated they would. Most Read from Bloomberg West Texas Intermediate slipped below $78 a barrel after earlier rising as much as 1.2%. US crude stockpiles increased 12 million barrels last week, bringing inventories to […]

SHREVEPORT, La. (KTAL/KMSS) – His name was Odessa St. Strickland, and in the early 1900s he invented a device that traced and defined the boundaries of oil and gas deposits. In 1940 alone, 139/140 of the locations discovered by Strictland’s invention produced oil and gas. But Strickland’s big claim to fame came about because of […]

Oil field workers on a rig in Tioga, North Dakota. Ken Cedeno | Corbis | Getty Images Oil prices edged lower Wednesday as U.S. gasoline stocks rose significantly, suggesting demand might be faltering in the world’s largest economy. The West Texas Intermediate futures contract for March fell 18 cents, or .24%, to $74.19 a barrel […]

Europe is at the center of the diversions because its tanker supplies are at high risk of attack. “The decision for these diversions is by the owners of the oil, which is European,” said Viktor Katona, lead crude analyst at Kpler. “European countries are seen as complicit in the Israel-Hamas war. They would rather go […]

Surging U.S. oil production could set new records this year after ending 2023 at a historic level, pressuring OPEC and cushioning the market — at least so far — from price spikes that may emerge from tensions in the Middle East. U.S. production has undergone a dramatic turnaround after hitting a 62-year low in 2008, […]


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