The cartel is trying to undercut the U.S. and other nonmember exporters.

When companies are paying higher import taxes, they have less money to spend on energy-hungry projects.

The last count showed 422 active U.S. oil rigs in operation. That’s comparable to when the pandemic depressed demand for crude.

The increased risk from conflict in the Middle East carries a premium.

The addition of American crude oil to the Brent benchmark had an immediate impact on global oil prices.

Dated Brent, used to set the price of most of the world’s oil, will include supplies from Texas for the first time.

With West Texas Intermediate selling above $60 a barrel, drilling and pumping oil is profitable in the U.S. Permian Basin.

The Permian Basin region, anchored by the towns of Midland and Odessa, has survived past shakeouts, but some think this could resemble the crash of the 1980s.

Companies are using less oil to make and ship things. As consumers curtail travel, they use less oil, too.

Many products and services tend to cost more.