Oil prices slid further Friday after a surge in the dollar, accelerating an already sharp downturn tied to re-emerging fears of oversupply.
Elon Musk has agreed to build the world’s largest lithium-ion battery system in Australia, a project he hopes will show how the technology can help solve energy problems.
Easy Wall Street funding is leading American shale companies to expand drilling even as most lose money on every barrel of oil they bring to the surface.
OPEC is considering putting a limit on how much oil members Nigeria and Libya can pump, cartel delegates say, as surging production from those countries is complicating the cartel’s plans to influence crude prices.
Warren Buffett’s Berkshire Hathaway agreed to buy one of the country’s biggest power-transmission companies, which would cement electricity as one of the conglomerate’s largest businesses.
Ministers from leading oil producers will meet in St. Petersburg on July 24 to monitor implementation of the agreement reached earlier this year to cut production. The meeting could also “make recommendations on further steps, if necessary,” Russia’s energy ministry said.
Electric vehicles threaten oil’s future as they are being favored by governments and even traditional manufacturers like Volvo, but they must keep improving to overcome the advantage of conventional cars.
China, one of the world’s largest oil importers, is buying nearly 100,000 barrels of oil a day from the U.S., on average, the result of a surprise American glut that has made the country’s oil cheaper than Mideast rivals.
The world’s biggest producer of crude oil pumped record amounts last year, Saudi Arabian Oil Co. said, providing an insight into the secretive firm ahead of its partial IPO.
Qatar Petroleum, the world’s largest producer of liquefied natural gas, said it plans to increase natural-gas output by 30% over the next seven years, as the small emirate faces a diplomatic crisis with its Persian Gulf neighbors.
The prices of goods leaving the eurozone’s factory gates fell in May at the fastest pace in over a year, another indication that inflation is likely to remain weak despite a pickup in economic growth.
Exxon Mobil and other energy companies have joined President Trump in expressing concerns over a bill to toughen sanctions on Russia, arguing that it could shut down oil and gas projects around the world that involve Russian partners.
Oil prices surged to a one-month high Monday as new data caused investors to question whether U.S. oil production is as resilient as many anticipated.
The $1 billion pledged by French oil giant Total in an Iranian gas field is a breakthrough for the resource-rich country, but it is unlikely to unleash a flood of foreign energy-industry investment.
Jana Partners has taken a roughly 5% stake in EQT Corp. and is seeking to scuttle the energy company’s proposed $6.7 billion acquisition of Rice Energy.
General Electric closed its deal to combine its long-suffering energy business with Baker Hughes, creating one of the largest companies in the oil-field services industry.
France’s Total said it would sign a deal on Monday that finalizes a $1 billion investment in a giant Iranian gas field, capping months of negotiations over the first big move by a Western oil company into the country in years.
Shares of Suncor Energy, Canada’s largest crude producer, have outperformed every major North American competitor’s as it pledges not to invest in the oil sands in the ‘foreseeable future.’
Tumbling oil prices are emerging as the latest threat to the long stock-market rally. Investors are concerned that the recent collapse in crude prices could hurt the energy sector and end a bullish stock-market outlook.