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FILE - In this Thursday, Jan. 8, 2015 file photo, an oil worker walks by an oil pump during a sandstorm that blew in, in the desert oil fields of Sakhir, Bahrain. Across a Mideast fueled by oil production, low global prices have some countries running on empty and scrambling to cover shortfalls, even as more regional crude is on tap to enter the market.(AP Photo/Hasan Jamali, File)

In a Mideast upset by cheap oil, more crude may enter market

The possibility of more supply entering the market has analysts already lowering their forecast price for oil into the next year.
Lee Tillman, of Marathon Oil Company, delivers remarks in  the Unconventional Impact Pane during the Offshore Technology Conference at NRG Park on May 5, 2014, in Houston, Tx. (Mayra Beltran/Houston Chronicle)

Despite spending cuts and cost savings, Marathon Oil posts $386 million loss

A collapse in crude prices trumped other efforts by the Houston-based exploration and production company to balance its budget, including boosting its production and paring back its budget.
(Photo by Eddie Seal for Bloomberg News)

2015 already a record year for writedowns, IHS says

Beleaguered drillers wrote off $29 billion in the first quarter of the year alone, more than the 2014 full-year total of about $25 billion.
The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil profit beats estimates

Statoil and competitors such as Royal Dutch Shell Plc and Total SA are cutting investments and operational costs after oil prices fell by about 50 percent over the last 12 months.
(Photo by Eddie Seal for Bloomberg News)

EIA: U.S. shale production set to fall again in June

Output growth is shrinking even in the Permian Basin, where oil companies have kept more horizontal rigs drilling for oil.
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.
Robert " Bob" Dudley, chief executive officer of BP Plc (Photographer: Simon)Dawson/Bloomberg

BP cuts hundreds of jobs as profits fall by nearly $1 billion

BP said Tuesday it lost $375 million on cancellation fees for two deep-water rigs in the Gulf of Mexico.
(Alexander Klein/AFP/GettyImages)

Oil prices retreat after OPEC reports 810,000-barrel boost in March

OPEC predicted output from U.S. oil fields would stall out and eventually fall later this year as producers park hundreds of drilling rigs.

OPEC surge ahead of Iran exports could stall oil recovery

The International Energy Agency says Russia, India and others gobbled more cheap crude last month but oil-exporting states including Saudi Arabia pushed out more crude than in almost two years, a bid to remain kings in the oil market as Iranian exports loom.
(Photo by Andrew Burton/Getty Images)

Cheap crude won’t slow U.S. oil fields by much, EIA says

The EIA said low oil prices would only cut the nation’s daily production by 700,000 barrels from 2022’s projected 10.4 million barrels.