As cases of COVID-19 climb, oil prices face a longer recovery

Oct 19, 2020
OPEC countries, plus Russia, met Monday amid fears that the next wave of the pandemic will pummel demand.
An Austrian soldier stands guard outside the OPEC headquarters in Vienna in 2016.
Joe Klamar/AFP/Getty Images

Trump tests positive for coronavirus; stocks, oil prices sink

Oct 2, 2020
U.S. stock futures and Asian shares fell Friday after the president said he and first lady Melania Trump had tested positive.
Trump tweeted news of his test results just hours after the White House announced that senior aide Hope Hicks had come down with the virus after traveling with the president several times this week.
Saul Loeb/AFP via Getty Images

Oil-rich countries have been hit hard by the pandemic. How can they move on?

Oil prices are still far below the break-even point for many producers in the Middle East.
Transitioning away from oil, for countries that depend on the industry, is easier said than done.
Joe Raedle/Newsmakers

Chevron buys Noble Energy, a sign that oil's not dead

Jul 20, 2020
Oil has risen to roughly $40 a barrel after plummeting in April. With prices holding steady, big oil companies are likely to pounce on smaller ones.
Justin Sullivan/Getty Images

Oil prices tick back up as economies reopen, OPEC extends production cuts

Jun 8, 2020
Oil's recovery will depend on how the pandemic plays out, and whether there will be a second wave of illness.
The so-called OPEC+ club of producers agreed on Saturday to to extend oil production cuts into July.
Alexander Klein/AFP via Getty Images

Texas oil regulator throws in the towel on supply cut

May 4, 2020
Low crude oil prices have already achieved what regulators were seeking: to cut state production.
The sun sets behind smoke rising from a refining plant in Houston.
Mark Felix/AFP via Getty Images

First the virus, then the oil crash, hit Midland, Texas

Apr 23, 2020
Midland, Texas, is ground zero for oil and gas production in the U.S., and much of the local economy, in some way or another, is tied to the industry. When West Texas Intermediate went negative for the first time ever…
A pumpjack in Midland. The Texas oil patch has never seen a bust like this one.

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Explaining how oil prices work, after the cost of a barrel dropped below zero

Apr 21, 2020
At this point, oil is like that broken-down car you pay to have towed off to the junkyard.
The agreement to cut production from OPEC, Russia and the U.S. clearly hasn't worked.
Spencer Platt/Getty Images

What's going on with oil prices?

Apr 21, 2020
If you're a consumer stuck in lockdown, you may not benefit from lower prices.
Oil prices have turned negative amid this historic rout. Does that have implications for consumers?
Mauro Pimentel/AFP via Getty Images

Can even a deal to cut oil production increase prices amid COVID-19?

Demand for oil is falling so quickly that even a reduction in supply will take some time to affect markets.
Many shale oil companies can operate profitably with prices so low.
Justin Sullivan/Getty Images