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Oil industry

Greater natural gas production is boost to U.S. at home and abroad

by Elizabeth Trovall
Oct 31, 2024
The expansion has boosted U.S. exports and brought down energy costs here at home.
An oil pumpjack in the Permian Basin, where natural gas production has tripled in the past decade.
Brandon Bell/Getty Images
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Takeaways from one of the world's biggest energy summits

by Sabri Ben-Achour , Alex Schroeder and Natalie White
Mar 22, 2024
CERAWeek in Houston has shown that despite agreements to transition away fossil fuels, oil and gas are still deeply entrenched.
"The mood is very sour this year amongst the oilmen," says the Economist's Vijay Vaitheeswaran of CERAWeek.
Mark Felix/AFP via Getty Images
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More oil, fewer rigs: how the U.S. became the world's top producer

by Henry Epp
Mar 5, 2024
New, more productive technology helped, along with pressure for profits.
U.S. oil production continues to break records, even though the number of active rigs has fallen by nearly 70% in the past decade.
George Rose/Getty Images
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How the 1973 oil embargo changed the way the U.S. thinks about energy

by Henry Epp
Sep 21, 2023
Fifty years ago this fall, Arab members of OPEC cut off their oil exports to the United States.
Above, an oil pumpjack in California. Then-President Richard Nixon, in a 1973 speech addressing the oil embargo, expressed the need for U.S. energy independence.
Frederic J. Brown/AFP via Getty Images
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How do we calculate supply and demand for oil heading into the future?

by Andy Uhler
Jun 15, 2022
There are a lot of variables that make predicting energy demand in 2023 difficult, including rising interest rates, inflation and potential COVID flare-ups.
President Biden recently demanded big oil companies bring down gas and diesel prices. Above, gas stations in Bethesda, Maryland, earlier this year.
Mandel Ngan/AFP via Getty Images
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A Warmer World

Oil execs ponder a future without oil as they gather in Houston

by Andy Uhler
Dec 7, 2021
We won't stop using fossil fuels right away, but the transition to renewable energy could be tricky.
A poster of an offshore drilling station at the World Petroleum Congress, where the oil industry is discussing its role in the future of energy.
Brandon Bell via Getty Images
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Why politicians have little sway over gas prices

by Andy Uhler
Aug 12, 2021
In an attempt to moderate gas and oil prices, Biden has asked OPEC to increase production, despite it being a function of market forces.
Gas prices near $6 a gallon at a Shell station on July 12 in San Francisco.
Justin Sullivan via Getty Images
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Some traders bet on oil hitting $100 per barrel as economies thaw

by Scott Tong
Jun 8, 2021
Demand is picking up as more and more people resume their normal lives after vaccination.
With more people on the move as economies reopen, oil prices will keep going up if demand outraces supply.
Paul Ratje/AFP via Getty Images
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COVID-19

Global rebound drives crude oil higher

by Mitchell Hartman
Mar 8, 2021
With West Texas Intermediate selling above $60 a barrel, drilling and pumping oil is profitable in the U.S. Permian Basin.
In the fall, the global economy came out of COVID-19 hibernation, and demand for oil and gas began to outstrip supply.
Christopher Furlong/Getty Images
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How Texas weather disruptions will ripple through oil supply chain

by Justin Ho
Feb 17, 2021
Even after the weather starts improving, this crisis' effects are likely to linger and be felt far beyond the Lone Star State.
The Gulf Coast handles roughly half of the U.S.'s oil refining capacity.
Andrew Caballero/Reynolds
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