(Photographer: Ty Wright/Bloomberg)

Rising gasoline supply is weighing down crude

Crude oil futures swung between a gain and a loss Wednesday to settle at about even, after weekly inventory data showed a small build in gasoline inventories.
FILE- In this June 4, 2010 file photo, a worker picks up blobs of oil with absorbent snare on Queen Bess Island at the mouth of Barataria Bay near the Gulf of Mexico in Plaquemines Parish, La. U.S. District Judge Carl Barbier ruled Thursday, Sept. 4, 2014, in New Orleans, La., that BP acted recklessly and bears most of the responsibility for the oil spill. The ruling exposes BP to about $18 million in civil fines under the Clean Water Act.  (AP Photo/Gerald Herbert, File)

Oil spill settlement boss says claim centers closing this week

The Louisiana attorney running BP’s oil spill settlement program says the 10 offices where Gulf Coast residents would file damage claims will close on Friday after a three-year run.
Workers remove the drill pipe on the drilling floor of Development Driller III, which drilled the relief well and pumped the cement to seal the Macondo well, the source of the Deepwater Horizon rig explosion and oil spill, in the Gulf Of Mexico, off the coast of Louisiana, Saturday, Sept. 18, 2010. (AP Photo/Gerald Herbert)

Energen taps capital markets for $405 million to boost drilling

Energen’s public offering of 5.7 million shares makes it the 30th North American oil company to raise funds from the public equity markets in 2015, bringing the oil-exploration sector’s take to about $13.7 billion so far this year.

OPEC revenues slump below $1 trillion for first time since 2010

he revenue drop shows the strain on the group’s members as they increase pumping at a time of oversupply, following a Saudi Arabia-led strategy of defending market share instead of prices.

PetroTiger’s former co-CEO avoids prison in bribery case

The sentence came a day after he pleaded guilty in federal court in Camden, New Jersey, to conspiring to bribe an official at Colombia’s state-controlled oil company, Ecopetrol SA.

Shares for railcar manufacturer plunge on concern oil drop will hurt demand

Railroad companies — Greenbrier’s customers — are struggling with a widening fallout from the global rout in crude prices, which is eroding oil-train shipments faster than forecast.
(LM Otero/AP)

Exxon’s Kearl expansion comes online, doubles oil sands production

Exxon Mobil plans to step up production at Kearl in phases, reaching an ultimate capacity somewhere around 345,000 barrels per day by about 2020.

Statoil to cut 2,000 jobs, adding to Norway’s woes

The job losses at Statoil, Norway’s No. 1 oil and gas producer, add to thousands more in the country’s offshore energy industry after crude collapsed in the second half of 2014
(DEwira/AFP/Getty Images)

IEA’s “missing barrels” may take a bite out of crude supply glut

The sea of oil drowning oil markets may be only half as deep as the International Energy Agency is estimating, according to analysts.
Ernest Moniz Sec. of Energy United States during the IHS Energy CERAWeek Wednesday April 22, 2015 at the Hilton Americas-Houston. (Billy Smith II / Houston Chronicle)

Moniz says Strategic Petroleum Reserve could be tapped to control price shocks

Moniz said rising U.S. crude production gives the nation more flexibility in how it uses the reserve, created four decades ago in response to supply shortfalls caused by the Arab oil embargo. The four underground salt caverns can hold more than 700 million barrels of oil.