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

$8 billion natural gas pipeline canceled, raising questions about fuel's future

Jul 6, 2020
With challenges from environmental groups and state governments, the idea of natural gas as a bridge fuel may be fading.
Climate activists protest the Atlantic Coast Pipeline in front of the U.S. Supreme Court in February.
Mark Wilson/Getty Images

Pandemic may be a turning point for oil business, executives and analysts say

Jun 9, 2020
With carbon emissions and air pollution plummeting during the lockdown, experts question whether we'll return to our old driving and flying habits.
Oil storage tanks in Carson, California. The use of fossil fuels dropped during the lockdown, and supplies piled up.
Robyn Beck/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.

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

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

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"Suppliers are sexy," but the real oil collapse story is demand

Apr 3, 2020
A historic plunge in demand during the global pandemic has pushed U.S. average gasoline prices to $1.91 a gallon.
There's a lack of demand for oil as people stay home during the COVID-19 pandemic. Above, a woman wearing gloves gases up her car in Los Angeles on March 18.
Chris Delmas/AFP via Getty Images

West Texas oil patch girds for bust as crude price craters toward $20 a barrel

Mar 18, 2020
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.
A crude oil pipeline in Texas.
Joe Raedle/Newsmakers

Oil price war: Saudis have lowest costs; doesn't mean they'll win

Mar 10, 2020
Low oil prices affect all producer nations. Each has different vulnerabilities.
Gabriel Bouys/AFP/Getty Images