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Algeria calls for OPEC to cut production

The call by Youcef Yousfi to the Organization of Petroleum Exporting Countries, of which Algeria is a member, comes as the country is struggling to deal with a halving of oil prices from $120 barrel to $60 a barrel.  More »
(LEON NEAL/AFP/Getty Images)

Libya calls oil region clashes a serious escalation

— Libya’s foreign minister said Sunday that extremist groups are escalating their attacks and making a renewed push to seize oil resources, after an assault on eastern terminals set storage tanks ablaze, sending massive clouds of black smoke into the sky.  More »
(Eddie Seal/Bloomberg)

What’s next for world oil as lower prices extend into 2015

Those looking for a quick rebound may be disappointed, as world consumption growth slowed to the least since 2009, U.S. companies pumped more than they have since the 1980s and a price war broke out among members of the Organization of Petroleum Exporting Countries.  More »

Keystone Pipeline Texas

Residents on path of Kinder Morgan pipeline from Ohio to Gulf concerned about use

Federal regulators are considering the proposal to repurpose a 1,000-mile pipeline owned by Kinder-Morgan Energy Partners and MarkWest that runs from Ohio to the Gulf Coast.  More »
(Photo by Joe Raedle/Getty Images)

Missouri the first state to average gasoline under $2

There are now five states averaging close to the $2 threshold.  More »
Natural gas is flared at a Pioneer Natural Resources well, in Karnes County, Texas in 2010. 
(Eddie Seal/Bloomberg)

Natural gas falls below $3 in latest slide

Natural gas’ benchmark future price fell below $3.00 per million British thermal unit in trading on Friday, continuing a slide that has knocked about 30 percent from the price of gas in only one month.  More »
As U.S. crude production nears records, the oil industry is pushing for relaxed rules on oil exports.  (AP Photo/Orlin Wagner)

Midstates moving HQ from Houston to Tulsa

In a statement this week, Midstates said it hired ex-Samson Resources executive Mark Eck for the role of chief operating officer. Samson is based in Tulsa.  More »
(LEON NEAL/AFP/Getty Images)

Brent trades near $60 amid fighting around Libyan port

Brent oil traded near $60 on concern that OPEC’s refusal to cut production will worsen a global glut and as Libyan fighting intensified.  More »
(AP file photo/John Moore)

Saudi Arabia seen by former adviser assuming $80 oil

The assumption is down from $103 a barrel for this year, John Sfakianakis, who used to be chief economic adviser to Saudi Arabia’s Ministry of Finance.  More »
Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi leaves the hall during the opening day of the 10th Arab energy Conference in Abu Dhabi, United Arab Emirates, Sunday, Dec. 21, 2014. (AP Photo/Kamran Jebreili)

Saudi Arabia to dig into reserves for 2015 budget

Saudi Arabia’s Cabinet on Thursday endorsed a 2015 budget that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a nearly $39 billion deficit  More »
(AP Photo/Richard Drew, File)

Oil slides as U.S. supplies jump most in two months

West Texas Intermediate fell 2.2 percent in New York while Brent slipped 2.4 percent in London.  More »
(Dado Galdieri/Bloomberg)

Regulations would expand coastal California sanctuaries

The designation would bar oil and gas production off Northern California’s Marin and Sonoma counties.  More »
(JEFF PACHOUD/AFP/Getty Images)

U.S. gasoline output is soaring, but demand is still low

Lower demand for gasoline has been prompted by oversupply of crude oil and rising fuel economy vehicles.  More »
(AP Photo/Gerald Herbert, File)

BP appeals judge’s refusal to remove claims administrator

A brief filed Tuesday with the 5th U.S. Circuit Court of Appeals contends, among other things, that Patrick Juneau had secretly drafted pleadings filed against BP before he was appointed.  More »
(AP Photo/Hasan Jamali, File)

Oil price slides again as crude inventories rise

Crude oil fell Wednesday after an unexpected build in crude oil inventories indicated a production slowdown may be further off than traders previously thought.  More »
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