Refiners have benefitted from the crude collapse by buying up cheap oil and transforming it into higher-priced gasoline, diesel and other refined products, an executive with the world’s largest independent refinery said Monday. More »
Severe weather is the leading cause of power disruptions, costing the U.S. economy from $18 billion to $33 billion a year, and climate change will only make it worse, a White House review on energy infrastructure concludes. More »
Occidental Petroleum Corp. CEO Stephen Chazen says new money flowing to oil companies could prolong the industry’s downturn if it keeps financial pressure off U.S. producers who might otherwise dwindle or sell. More »
Financial markets underpinning the U.S. shale boom have emerged as the world’s de facto regulator of global oil production, taking over from the Saudi Arabia-led cartel of crude exporting nations that abdicated its decades-old role in November, a top IHS researcher said Monday. More »
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