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OPEC+ agrees to boost oil production. But probably not enough to lower prices.

Aug 3, 2022
The small increase of 100,00 barrels a day may be a sign that the cartel thinks a recession is coming.
By pledging to increase output by just 100,000 barrels a day, OPEC could be implying that it expects demand for oil to fall. Above, OPEC's headquarters in Vienna.
Joe Klamar/AFP via Getty Images

Why OPEC might decide to take a break from its alliance with Russia

Jun 1, 2022
Russia is the world's third-largest oil producer — such a decision won't be made lightly.
The relationship between Russia and the Organization of the Petroleum Exporting Countries has always been contentious.
Joe Klamar/AFP via Getty Images

Domestic oil could increase supply, but it won't be cheap — or quick

Mar 9, 2022
"The harsh reality for U.S. oil markets is that there is no switch that anyone can flip to suddenly turn on oil production overnight," one expert told us.
It might take six to nine months for domestic oil producers to substantially ramp up production.
Spencer Platt/Getty Images

What does OPEC have to say about the Russian oil situation? Not much.

Part of it comes down to the oil world's "delicate equilibrium."
OPEC is in "a very nice place of having super high oil prices and also being partially aligned with with Russia, and they don't want to destabilize either," said Fernando Valle, senior energy analyst at Bloomberg.
JOE KLAMAR/AFP via Getty Images

In West Texas, astronomers worry about growing oilfield light pollution

Jul 9, 2021
A major Texas observatory is trying to convince oil and gas companies to minimize light pollution from drilling rigs and gas plants.
A view of McDonald Observatory in West Texas. Astronomers have grown concerned about light pollution from oilfield activity in the region, and the observatory has worked to educate companies on alternative “dark sky-friendly” lighting methods.
Damond Benningfield/McDonald Observatory

Oil prices are high. So why aren't U.S. oil producers drilling?

Jul 6, 2021
Two reasons: reluctant investors and potential regulations.
A natural gas drill at a hydraulic fracturing site on in Springville, Pennsylvania, in 2012.
Spencer Platt/Getty Images

OPEC delays and spending cuts: Uncertainty abounds in the oil and gas industry

Dec 1, 2020
OPEC and its allies are having trouble coming to an agreement, because individual countries see thing differently.
The Brega oil port in Libya in September.
AFP via Getty Images

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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

OPEC fights falling prices with production cuts

Dec 7, 2018
Analysts say OPEC's decision is less about raising prices, and more about stopping them from falling further.

Will the Saudi-Russian oil alliance hold as production cuts are mulled?

Nov 12, 2018
The price of oil is at its lowest in almost a year. Now officials from Saudi Arabia are suggesting they might cut supply to arrest the falling price. President Donald Trump on Monday said he hopes Saudi Arabia and OPEC don’t do that. It’s all a bit of a test for Saudi Arabia and its […]
Russian President Vladimir Putin shakes hands with Saudi Crown Prince Mohammed bin Salman during their meeting at the Kremlin in Moscow on June 14, 2018. 
Yuri KADOBNOV / AFP