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Stories Tagged as

Oil

International Energy Agency predicts an oil surplus next year

by Henry Epp
Nov 14, 2024
A supply glut tends to reduce prices, which could prove challenging for President-elect Trump’s plan to boost U.S. oil production.
Prices are soft in the oil market amid abundant supply relative to demand.
The Washington Post/Getty Images
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OPEC postpones plans to increase production — again

by Elizabeth Trovall
Nov 4, 2024
The oil cartel is holding back millions of barrels a day.
Gas prices have been weak lately, so OPEC's been holding back production.
Brandon Bell/Getty Images
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China slows down growth in global oil demand

by Elizabeth Trovall
Sep 16, 2024
A softening real estate market and the growing popularity of electric vehicles have contributed to a drop in oil consumption.
While growth in electric vehicles may shift demand away from gasoline, Ken Medlock of Rice University sees the slowdown in overall oil demand growth as temporary.
AFP via Getty Images
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What are sovereign wealth funds, and why are U.S. leaders interested?

by Henry Epp
Sep 9, 2024
Many countries and several states have investment funds meant to grow their wealth and boost infrastructure and other projects.
Oil has generated wealth that oil-producing countries hope will last after the resource runs out.
Joe Raedle/Getty Images
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Fracking shifts U.S. oil production away from California

by Daniel Ackerman
Sep 4, 2024
Once a leading source of oil, California produced fewer barrels of oil in June than in any month since the federal government began counting in 1981.
As fracking in places like the Permian Basin in Texas took off, California started pumping fewer and fewer barrels of oil.
Spencer Platt/Getty Images
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Shelf Life

The economic war on Russia has been a grand experiment for sanctions

by Stephanie Baker
Sep 3, 2024
The Kremlin has been cut off from much of the global economy by sanctions. But have they had the desired effect?
A fuel tank farm on Transneft, a Russian oil pipeline.
Natalia Kolesnikova/AFP via Getty Images
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Oil prices dip but still face plenty of upward pressure

by Henry Epp
Aug 5, 2024
Recession fears blunt demand, lowering prices. But conflict in the Middle East and OPEC+ production cuts could push them up again.
Considering the global economy and geopolitics, the price of oil has remained remarkably stable, says Hugh Daigle at the University of Texas at Austin.
Getty Images/shotbydave
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The oil industry would like to know when global demand will peak. That's hard to predict.

by Henry Epp
Jul 31, 2024
An accurate estimate depends on a whole lot of variables.
Oil investors want to know when peak oil may arrive as more consumers are seeking fossil fuel alternatives.
Peter Macdiarmid/Getty Images
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Why most of the world still uses the U.S. dollar to buy and sell oil

by Sabri Ben-Achour
Jun 25, 2024
The scale, liquidity and stability of U.S. financial markets are partly behind the phenomenon.
Safe, liquid markets in the United States is a key reason most countries buy oil — and many other commodities — with dollars.
Frederic J. Brown/AFP via Getty Images
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A new report says worldwide oil demand will peak in 2029. Some oil industry observers are skeptical.

by Caleigh Wells
Jun 13, 2024
Even if the prediction's right, Big Oil will be with us much longer.
Even if the IEA's estimate is right, petroleum will continue to be a massive industry past 2029.
Brandon Bell/Getty Images
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