(DEwira/AFP/Getty Images)

OPEC oil output near 2 1/2-year high as Saudis show no letup

Prices tumbled the first quarter of this year as U.S. output surged to the highest level in more than four decades and OPEC members pumped more barrels.
(Photographer: Andrey Rudakov/Bloomberg)

Shell profit falls by more than half, but beats analyst estimates

Shell is cutting investment after oil’s slump over the past year forced producers to defer projects to strengthen their balance sheets.
Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)

ConocoPhillips boosts production despite pain from cheap oil

The biggest hurdle during the quarter was the low price of crude, the company said in a statement released early Thursday.
(Photo by Andrew Burton/Getty Images)

Texas has the nation’s No. 1 oil field

Texas has shown a significantly stronger presence in the EIA’s top 10 than it did in the agency’s last report in 2009.
The Texas Panhandle sky silhouettes a Linn Energy drilling rig in Wheeler County. (Linn Energy)

Linn produced more oil and gas in the first quarter despite a 65 percent spending cut

Linn Energy continues to pump more oil and gas from the ground despite dramatic spending reductions, the company announced Wednesday.
(Aaron M. Sprecher/Bloomberg)

KBR reports income up after restructuring that cut 1,000 jobs, 11 business segments

The company announced a major restructuring of the business last December that includes 1,000 job cuts and a reduction in business segments to five from 16 that it said will result in a $200 million annual cost reduction.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

U.S. oil inventories rise by almost 2 million barrels, but below expectations

Crude oil inventories across the U.S. posted another build last week, but the pace at which crude tanks are filling remained much slower than in weeks past. The oil markets shot up.
Patrick Pouyanné, CEO of French oil company Total, speaks at the IHS Energy CERAWeek in Houston. (Billy Smith II / Houston Chronicle)

Europe’s biggest oil refiner joins those predicting end of boom

The surge in European refining margins, which jumped by the most in 4 years last quarter, cannot be sustained because the region still has surplus processing capacity.
John Hess, CEO of the Hess Corp. (AP file photo/Mark Lennihan)

Hess reports first-quarter loss on lower crude prices

The loss came even as the company pumped more oil and natural gas to make up for prices that fell by more than half from last year, the company said.
Sen. Lisa Murkowski, R-Alaska, speaks during the opening panel discussion of IHS Energy CERAWEEK on Monday, April 20, 2015, in Houston. ( Brett Coomer / Houston Chronicle )

Murkowski pushes to lift oil export ban as part of Iran nuclear bill

Sen. Lisa Murkowski, R-Alaska, is pushing a plan to lift the crude export ban in her latest bid to tie the oil export debate to the Iran nuclear deal.