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The U.S. government will sharply boost royalty rates for companies as federal officials weigh efforts to fight climate change against pressure to bring down high gasoline prices.
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Labor shortages, supply chain issues, hesitant financial backers and a frosty relationship with the Biden administration have limited how much Texas oil and gas companies are ramping up production.
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As the war in Ukraine affects gas prices in the United States, Democrats and Republicans are calling for an increase in domestic energy production. But experts say that won’t be a quick fix.
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Oil-consuming nations will bring 60 million barrels of crude out of storage and onto global markets. It's supposed to calm oil prices down, but global crude went up on the news.
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The oil giant brought in $59.15 billion in revenue, up 5% from $56.16 billion during the same quarter last year. It exceeded analyst projections for the quarter.
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The price of oil is a third less than it was in January. Every dollar the price drops represents a decline of about $85 million in economic impact in the state. By many estimates, the speed and severity of this bust make it the worst on record.
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Oil and gas companies say operations are slowly ramping back up, but rig counts won’t significantly increase until West Texas Crude is more than $45 per barrel.
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Iran has vowed revenge on the United States for the assassination of General Qasem Solemani. In the past, Iran has responded to attacks by targeting oil…
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As soon as five years from now, global demand for oil might stop growing. That prediction may not seem surprising, if it came from an environmental...
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Milk is like oil - it's refined into products that are traded globally. So global events can mean profits or losses for dairy farmers. This year, they're seeing losses, and asking Congress for help.
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Oil prices hit $50 a barrel last week for the first time in seven months. Prices have dropped again, and a recent report from the Federal Reserve Bank of…
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A drop in global oil prices saved U.S. drivers $100 billion last year. Good news, right? Not so, say some economists. The energy industry is now so big that cheap oil may actually hurt the economy.