A worker climbs an EOG Resources oil rig in South Texas' Eagle Ford Shale. The Houston company predicts double-digit production growth   if oil prices stabilize at $65 a barrel.  (Gary Coronado / Houston Chronicle )

Oil hits $60 as rally from winter depths continues

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U.S. benchmark crude rose $1.47 to $60.40 a barrel in New York Mercantile Exchange trading Tuesday.
Categories: Crude oil, General, Markets
(Jamie Schwaberow/Bloomberg)

Anadarko writes down $3.7 Billion in value from Utah field

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Anadarko Petroleum Corp. reported its biggest quarterly loss in more than a decade after writing down the value of a single field in Utah by $3.7 billion.
Oil Boom Shifts The Landscape Of Rural North Dakota

Money manager criticizes big bucks spent on shale wells

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Shares in U.S. shale-oil drillers including Pioneer Natural Resources Co. and EOG Resources fell after influential money manager David Einhorn criticized the large sums of cash they burn through to frack wells.
The Ocean Monarch (Image: Diamond Offshore)

Diamond Offshore sees drilling rig downturn ‘lower for longer’

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Exploration and production customers have canceled more than $4 billion of future work for offshore rig owners globally, Chief Executive Officer Marc Edwards said Monday on a first- quarter earnings conference call.
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Voices Commentary: two sides to the oil drop

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FuelFix Voices contributor Matt Smith writes about contrasting repercussions from the oil price drops.
Smoke and flames erupt from the scene of a train derailment Thursday, March 5, 2015, near Galena, Ill. A BNSF Railway freight train loaded with crude oil derailed around 1:20 p.m. in a rural area where the Galena River meets the Mississippi, said Jo Daviess County Sheriff's Sgt. Mike Moser. (AP Photo/Telegraph Herald, Mike Burley)

Feds move forward with tougher crude-by-rail standards

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The Transportation Department’s rule calls for what it described as an aggressive schedule for retrofitting older tank cars carrying crude and ethanol.
(Ty Wright/Bloomberg)

U.S. oil rig count falls again

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U.S. oil companies sidelined 24 oil-drilling rigs this week, according to Baker Hughes’ rig count released Friday, dropping the number of active oil rigs to 679.
(AP Photo/Paul Sakuma, File)

Chevron earnings fall 50 percent along with crude prices

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The San Ramon, California-based company said Friday that its average realized price for a U.S. barrel of crude was $43 in the first quarter of 2015, compared to $91 per barrel in the same three months last year.
Saudi King Salman on  Tuesday, March 10, 2015. (AP Photo/SPA)

Saudi Aramco creates supreme board as oil exporter reorganizes

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Saudi Arabia is pumping near-record amounts of crude, leading the Organization of Petroleum Exporting Countries in a policy of maintaining output to pressure suppliers outside the 12-nation group to help tackle an excess.
In this Jan. 24, 2015 file photo, Saudi Arabia's King Salman attends a ceremony at the Diwan royal palace in Riyadh. (AP Photo/Yoan Valat, Pool)

Salman abandons Saudi royal balancing act to impose rapid change

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In less than four months, the king has overhauled his cabinet, removed princes from government roles, merged ministries and realigned the succession.