oil price

Energy prices remain elevated, which affects costs of transportation, materials, and power.

Oil companies that drill in West Texas are seeing big wartime profits, but many are holding back on aggressive capital spending, wary of repeating the boom-bust cycles that followed the pandemic when prices collapsed after a drilling surge.

Fitch Ratings upgraded its oil and gas sector outlook to “improving” from “neutral,” and Moody’s maintained its positive outlook.

The oil cartel aims to stabilize prices in a changing geopolitical environment.

Even at prices half what they once were, U.S. oil producers can make a profit