Oil

Oil Prices Rise as Suppliers Hold Back
The Economy

Oil Prices Rise as Suppliers Hold Back

U.S. crude oil prices rose above $50 per barrel for the first time since February.
By Lauren Muskett | January 12, 2021
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Chevron to Buy Noble Energy for $5B
M&A

Chevron to Buy Noble Energy for $5B

The large energy sector deal could signal a wave of acquisitions.
By Lauren Muskett | July 20, 2020
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BP Faces $17.5B Q2 Hit
GAAP and IFRS

BP Faces $17.5B Q2 Hit

The oil giant lowered its oil price expectations through 2050 due to the COVID-19 pandemic.
By Lauren Muskett | June 15, 2020
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BP to Cut 10,000 Jobs
Strategy

BP to Cut 10,000 Jobs

The oil giant plans to cut 15% of its workforce by the end of the year.
By Lauren Muskett | June 8, 2020
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Diamond Offshore Files for Bankruptcy
Credit & Capital

Diamond Offshore Files for Bankruptcy

The drilling company is the fifth publicly traded oil company to file for bankruptcy in the last 30 days.
By Lauren Muskett | April 27, 2020
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Oil Prices Fall to Lowest Levels in 18 Years
The Economy

Oil Prices Fall to Lowest Levels in 18 Years

The decrease in air traffic demand due to the coronavirus pandemic is a key driver of the price drop.
By Lauren Muskett | March 18, 2020
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IEA Sees Drop in Oil Demand
Strategy

IEA Sees Drop in Oil Demand

"The immediate outlook for the oil market will ultimately depend on how quickly governments move to contain the coronavirus outbreak.”
By Lauren Muskett | March 13, 2020
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Saudi Aramco Plans $25.6B Share Sale in Record-Breaking IPO
IPOs

Saudi Aramco Plans $25.6B Share Sale in Record-Breaking IPO

The IPO, which is the largest in history, would value the company at $1.7 trillion.
By Lauren Muskett | December 6, 2019
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IEA Cuts Oil Demand Forecast
The Economy

IEA Cuts Oil Demand Forecast

Oil demand growth falls to its lowest level in years as the global economy slows.
By Lauren Muskett | June 14, 2019
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GulfMark Files Chapter 11 Amid Oil Price Drop
Strategy

GulfMark Files Chapter 11 Amid Oil Price Drop

The downturn in oil has caused half of the company's fleet of 66 offshore support vessels to be idled.
By Matthew Heller | May 17, 2017
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Venoco Files Chapter 11 Due to Oil Price Slump
Strategy

Venoco Files Chapter 11 Due to Oil Price Slump

The Denver company says the declining price of oil and the closure of a key pipeline "continue to be serious problems."
By Katie Kuehner-Hebert | March 18, 2016
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U.S. Oil Output To Decline in 2016, OPEC Says
The Economy

U.S. Oil Output To Decline in 2016, OPEC Says

OPEC appears to have calculated correctly that increasing its production in response to falling oil prices would force out high-cost U.S. producers.
By Katie Kuehner-Hebert | October 12, 2015
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U.S. Producers to ‘Bear Brunt’ of Oil Price Rout
The Economy

U.S. Producers to ‘Bear Brunt’ of Oil Price Rout

An International Energy Agency forecast is the gloomiest for U.S. oil production since crude prices crashed last month.
By Katie Kuehner-Hebert | September 11, 2015
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Unsustainable Energy
The Economy

Unsustainable Energy

The price of oil has been tumbling. The cost of finding it has not.
By Economist Staff | October 13, 2014
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