Abdalla Salem el-Badri Secretary General of the Ordinary meeting of the Conference of the Organization of the Petroleum Exporting Countries OPEC attends their 168th conference at the OPEC headquarters in Vienna, on December 4, 2015. OPEC oil ministers hold their biannual policy-setting meeting amid a supply glut and slumping crude prices, as member Iran readies to rejoin the global oil market. 

OPEC sees zero impact on oil market from U.S. lifting export ban

The U.S. Congress is nearing a deal on the biggest shift in the nation’s oil policy in more than a generation by allowing the world’s largest oil and gas producer to sell crude abroad.
House Speaker Paul Ryan of Wis. meets with reporters on Capitol Hill in Washington, Thursday, Dec. 10, 2015. White House and congressional negotiators searched for compromise Thursday on huge tax and spending bills with a combined price tag of well over $1 trillion, with leaders hoping to clinch agreements and let Congress adjourn for the year next week. "Not everybody gets what you want when you negotiate in divided government," Ryan told journalists, a nod toward the tough bargaining so far between President Barack Obama and the GOP-controlled Congress. "But I think we will complete this."  (AP Photo/J. Scott Applewhite)

White House, Congress getting closer to budget deal ending crude export ban

House Speaker Paul Ryan told GOP lawmakers he expected compromise legislation to be publicly released Tuesday — a measure that would deliver victories for to both sides.
Fuel prices are displayed at an Exxon Mobil Corp. gas station in Richmond, Kentucky, U.S., on Wednesday, April 29, 2015. Exxon Mobil Corp. is scheduled to release earnings data on April 30. Photographer: Luke Sharrett/Bloomberg

Look who’s hiring a climate researcher (it’s Exxon)

Job ads can offer a useful peek into what companies actually want to do, and corporate watchdogs routinely comb them for clues.
An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Oil export ban in play in final-stage talks on budget deal

Lifting the ban is a top ask for GOP negotiators working on the sprawling legislation.
Nomac Drilling Corp. derrick man Justin Spruell, right, climbs down from an overhead platform after connecting a section of drill pipe on a Chesapeake Energy Corp. natural gas drill site in Bradford County, Pennsylvania, U.S., on Tuesday, April 6, 2010.  (Daniel Acker/Bloomberg)

EIA ups world total for recoverable shale oil

The EIA’s new estimates added billions of barrels to the worldwide total of shale oil reserves.
(Ty Wright/Bloomberg)

Nationwide gasoline average may finally dip below $2 a gallon

U.S. oil prices at $35 a barrel are also at their lowest point since that time, and the nationwide gasoline average could finally drop below $2 this week..
The sun sets beyond an oil pumping unit, also known as a "nodding donkey" or pumping jack, at a drilling site operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

U.S. crude bounces back after sharp daily drop

U.S. crude slipped 33 cents to $35.29 a barrel on the New York Mercantile Exchange, a slight recovery after it had fallen as low as $34.53 a barrel earlier.
Northstar Island, an artificial island in the Beaufort Sea north of Alaska, is a site of oil and gas drilling. (U.S. Department of the Interior)

Company plans gravel island to extract Arctic offshore oil

Hilcorp’s plan for a 23-acre gravel island, about the size of 17.4 football fields, has drawn mixed reviews from conservationists and outright condemnation from environmentalists who believe the oil should stay in the ground.
Ben van Beurden, chief executive officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London, U.K., on Thursday, Jan. 29, 2015. Van Beurden pledged to do all he can to maintain payments to shareholders of Europe's largest oil company after crude prices fell by more than half in the past six months. Photographer: Chris Ratcliffe/Bloomberg  *** Local Caption *** Ben van Beurden

Shell plans to shed 2,800 jobs after buying BG Group

The losses amount to about 3 percent of the combined workforce, and come on top of Shell’s previously announced plan to shed 7,500 staff and contractor positions.
This photo taken July 23, 2013, show the U.S. Capitol in Washington.   (AP Photo/J. Scott Applewhite)

Crude export negotiations under way in Washington

The negotiations signal that Democrats are willing to consider the possibility of oil exports, a policy goal long sought by oil producers including ConocoPhillips. In return, Democrats are also seeking long-term extensions of tax breaks for renewable energy such as solar and wind.