(Photo by Andrew Burton/Getty Images)

Oil prices plummet, then recover, after China’s cash injection

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The U.S. benchmark crude on Tuesday morning initially fell by as much as 44 cents, but then it edged back up, rolling 9 cents above its previous settlement, which was the lowest in six years.
(Carla Gottgens/Bloomberg)

Muslim clerics call for a phaseout of fossil fuels

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The clerics and scholars appealed to “well-off nations and oil-producing states” to recognize their “moral obligation to reduce consumption so that the poor may benefit from what is left of the Earth’s non-renewable resources,” according to the declaration e-mailed Tuesday from Istanbul.
(David Paul Morris/Bloomberg)

Chevron gives notice to workers as it prepares to cut 950 jobs

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The job cuts are part of a broader plan by the San Ramon, California-based energy giant to eliminate about 1,500 jobs worldwide as the Chevron braces for a prolonged crude slump.
(AP Photo/Charles Rex Arbogast, File)

Crude sinks below $42 as Japan’s economy sinks

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U.S. crude fell to a new six-year low Monday after Japan said its economy contracted in the second quarter and more signs emerged that the global oil glut isn’t going away quickly.
A handout picture released by the Saudi Press Agency (SPA) shows Saudi Arabia's new King Salman bin Abdul Aziz (C) praying along with Kuwaiti Emir Sheikh Sabah al-Ahmad Al-Sabah (2nd L), King Hamad bin Issa al-Khalifa of Bahrain (L) and other dignitaries and officials during the funeral of his half-brother late King Abdullah in Riyadh on January 23, 2015. The desert kingdom's elderly King Abdullah died early in the morning and was replaced by his half-brother Salman as the absolute ruler of the world's top oil exporter and the spiritual home of Islam. AFP PHOTO / HO / SPA == RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO/HO/SPA" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS ==-/AFP/Getty Images

Saudi growth to slow as kingdom adjusts to cheaper oil

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Saudi Arabia’s gross domestic product will grow by 2.8 percent this year and 2.4 percent in 2016, the IMF said in e-mailed statement at the conclusion of its regular country consultation.
(Alexander Klein/AFP/GettyImages)

Algeria calls for non-OPEC output cut to stop oil price slump

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Algeria’s initiative to coordinate an OPEC response to tumbling crude prices had the backing of cash-strapped fellow members Libya and Venezuela.
(Photographer: Ty Wright/Bloomberg)

Texas gasoline prices drop as Midwest sees a price spike

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Average retail gasoline prices in Houston fell 3.1 cents per gallon in the past week, averaging $2.38 per gallon on Sunday, according to GasBuddy’s daily survey of 2,559 gas outlets in Houston.
David Green, software architect, is shown at Baker Hughes, 11211 FM 2920 Road, Thursday, Aug. 6, 2015, in Tomball. ( Melissa Phillip  / Houston Chronicle )

Service companies see re-fracking as new opportunity

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Re-fracking can be up to two-thirds cheaper than drilling a new well, which is an alluring possibility for cash-strapped U.S. producers who are straining to keep operational costs down and drilling operations intact.
(AP Photo/ Louis Lanzano)

NYSE warns Willbros Group of potential de-listing

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The New York Stock Exchange has warned oil engineering firm Willbros Group its stock could be de-listed unless it trades at an average $1 a share over a 30-day period.
(Jerry Lara/San Antonio Express-News)

Oil falls near 6-year low as U.S., OPEC keep pumping

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Oil has slumped more than 30 percent from this year’s peak in June on speculation the global surplus will be prolonged.