An oil pumpjack operates on July 31, 2023 in Los Angeles, California. Mario Tama | Getty Images Crude oil futures were little changed on Friday as traders digested what a mixed U.S. jobs report may mean for the future course of interest rates. The West Texas Intermediate contract for April fell 19 cents, or 0.24%, … Read more
California is home to some of the highest gas prices in the United States, according to AAA. The national average for a gallon of regular unleaded was $3.40 as of Thursday, according to the organization’s data. In California, the average was $4.87, more than any other state. Several factors go into what drivers pay for … Read more
US Federal Reserve Board Chairman Jerome Powell testifies at a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report,” on Capitol Hill in Washington, DC, March 6, 2024. Mandel Ngan | Afp | Getty Images Oil prices edged lower Thursday, giving up some of the previous session’s gains. The West Texas … Read more
Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area near Long Beach, California July 30, 2013. David Mcnew | Reuters Crude oil futures rose Wednesday ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress and the release of U.S. inventory data. The West Texas Intermediate contract … Read more
An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. Turar Kazangapov | Reuters Crude oil futures fell for a second consecutive day Tuesday as China’s pledge to boost economic growth and OPEC+ production cuts failed to lift prices. The West … Read more
The receiving dock at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Bloomberg | Bloomberg | Getty Images Norway’s government wants to show the world it is possible to safely inject and store carbon waste under the seabed, … Read more
Marathon Petroleum’s oil refinery in Anacortes, Washington. David Ryder | Reuters Oil prices edged lower Monday after oil cartel OPEC+ agreed to extend voluntary output reductions until the second quarter, in an effort to support the short-term stability of crude markets. Global benchmark Brent slipped 0.05% to $83.52 a barrel Monday, while U.S. West Texas Intermediate futures traded … Read more
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023 Alex Halada | AFP | Getty Images Saudi Arabia, de facto leader of the Organization for the Petroleum Exporting Countries, will extend its voluntary crude production cut of 1 … Read more
Lone pumpjack located in the middle of large solar array outside of Bakersfield, Kern County, California, USA. Citizens Of The Planet | UCG | Universal Images Group | Getty Images Crude oil futures rose more than 1% on Friday as signs point to a tightening market ahead of an OPEC+ decision on production cuts. The … Read more
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters Crude oil futures are headed for a second consecutive monthly gain as OPEC+ is expected to extend its production cuts through at least the second quarter. The West … Read more
