Low oil prices hit the state's mostly small producers hard. As a barrel of oil goes up, the industry is hopeful profits will start flowing again.

Some firms are adding production lines in other Asian countries.

Bob Dudley on a volatile market, trade tensions and greener alternatives.

Tight supply and healthy demand help, too.

Getting prices down could be complicated. Supply from Iran is already at two-year lows, and new U.S. sanctions on the country are set to go into effect in November.

Author of "Saudi America," Bethany McLean tells us about why the key ingredient in fracking is capital, not chemicals.