From left to right: European Union High Representative Federica Mogherini, Iranian Foreign Minister Mohammad Javad Zarif, Head of the Iranian Atomic Energy Organization Ali Akbar Salehi, Russian Foreign Minister Sergey Lavrov, British Foreign Secretary Philip Hammond and US Secretary of State John Kerry pose for a group picture at the United Nations building in Vienna, Austria, Tuesday, July 14, 2015.  (Joe Klamar/Pool Photo via AP)

What Iran’s nuclear deal means for the global crude oil market

After almost two years of talks, the holder of the world’s fourth-biggest crude reserves will benefit from an easing of international sanctions on exports in return for curbs on its nuclear program.
Original byline: Jim Blecha/

WPX Energy agrees to buy Permian producer for $2.35 billion

WPX will also assume $400 million in debt, according to a statement today.
Birds fly as pedestrians watch tug boats transport the Chevron Corp. Jack St. Malo semi-submersible drilling and production platform to the Gulf of Mexico from Kiewit Offshore Services in Ingleside, Texas, U.S., on Friday, Nov. 15, 2013. Chevron Corp. expects its $7.5 billion Jack/St. Malo platform to begin producing oil and gas in 2014, with a long-range target of 177,000 barrels per day. Photographer: Eddie Seal/Bloomberg

Oil rig repairer files bankruptcy, aims to end worker suits

The Retirement Systems of Alabama, a public pension system that already owned a minority of the company and was a lender, has agreed to buy the company and lend it money while in bankruptcy. Signal says it has agreed to settle the Indian workers’ claims for $20 million as part of the bankruptcy.
(DEwira/AFP/Getty Images)

Oil supply-demand balance could improve next year, OPEC says

OPEC’s more optimistic outlook comes as the 12-member cartel makes good on a plan to carve out more of the global oil market as demand grows; according to the report, Saudi Arabia told OPEC it put out 230,900 more barrels a day in June
(AP Photo/Matthew Brown, File)

Natural gas surpasses coal as biggest U.S. electricity source

Power companies have been installing more natural gas turbines at plants, with new regulations that restrict the emission of greenhouse gasses has added new pressure to make the switch.
The oil industry says China prohibits disclosures from oil companies on payments to the government for drilling rights. (AP Photo/Andy Wong)

China retakes top oil-buyer spot from U.S.

China overtook the U.S. as the largest crude importer in April for the first time this year. The country bought a record 7.4 million barrels a day from overseas that month, surpassing U.S. imports of about 7.3 million.
(Photographer: Patrick Semansky/Bloomberg)

MPLX to buy MarkWest Energy Partners for about $15.8 billion

The proposed deal combines the largest processor of gas in the Marcellus and Utica shale regions of Pennsylvania and Ohio with a growing oil and refined products partnership, according to the statement.
In this Tuesday, Feb. 24, 2015, photo, an activist waves a placard calling for the ban of fracking during a news conference outside the Colorado Convention Center in Denver. (AP Photo/David Zalubowski, File)

Ballot fight over fracking could be shaping up in Colorado

Frank McNulty, a Republican former state lawmaker who sponsored a pro-industry ballot measure in 2014, expects fracking opponents to turn to voters next year.

Judge weighs whether environmentalists can join Exxon case

The latest in the 11-year-old case between the Department of Environmental Protection and the petroleum company came Friday when Judge Michael Hogan heard roughly two hours of arguments from a coalition of seven environmental groups and state Sen. Raymond Lesniak on why they should be granted status as parties to the suit.
A crew cleans oil from the beach at Refugio State Beach on May 20, 2015 north of Goleta, Calif.  (Photo by David McNew/Getty Images)

California beach to reopen 2 months after oil spill

State Parks officials have cleared Refugio State Beach west of Santa Barbara to reopen July 17. Crews still need to finish scraping oil off cobblestones before the public can use the beach next week.