Energy

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Drivers will pay a few more cents per gallon for gasoline this Memorial Day weekend, but that should be the highest prices of the year, experts say. “Generally, we should be peaking now. I don’t personally think we’re going to see this huge crazy drop in gas prices. I think we saw one in 2012 …

Saudis declaring victory

Saudi Arabia says its strategy to squeeze U.S. shale producers is working.

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Residents fills buckets with non-potable water from a tank set up in front of the Doyle Colony Fire Station on April 23, 2015 in Porterville, Calif. Private wells here have gone dry.

In drought-parched California, there’s a topic many private landowners remain steadfast about: Water well metering. During normal precipitation years, surface water found in rivers, lakes and reservoirs is ample enough to supply roughly two-thirds of state water used annually. But during more recent dry years, farmers and drillers have been digging deeper for groundwater—precious liquid …

David McNew | Getty Images

The recent rally in oil prices could throw cold water on the economies of countries that consume a lot of crude. But oil producers could finally get a badly needed break. The sharp drop in global oil prices last year had major producers such as Russia and Venezuela scrambling to make up for lost revenue. …

OPEC oil price estimate

According to the Wall Street Journal, OPEC see oil prices staying below $100 a barrel for the next decade.

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Saudi Arabia’s new king says he won’t attend a White House summit, as global investors keep a close eye on the U.S.-Saudi relationship, long connected by oil and security.

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A floor hand works on an oil rig in the Bakken shale formation outside Watford City, N.D.

In good times, Big Roy Trucking runs 17 trucks to haul water to and from the Bakken oilfields. In the first quarter of this year, the family owned business scaled back to just the 11 trucks it owns. But recently, Big Roy has been able take two of its subcontractors back on, and Trista Rust, …

Exxon’s big earnings beat

Oil’s slide hurt Exxon’s profit, but the company’s results beat forecasts, thanks to a five-fold profit rise in its refining business.

Andrey Rudakov | Bloomberg | Getty Images
An employee looks out over the illuminated petroleum cracking complex at the Lukoil-Nizhegorodnefteorgsintez oil refinery, operated by OAO Lukoil, in Nizhny Novgorod, Russia.

Sanctions against Russia so far seem to be hobbling its longer-term energy projects, but those sanctions may be tougher to maintain if the conflict stretches on indefinitely. U.S. and international industry officials, in Houston for the annual IHS CERAWeek energy conference, say they are complying with sanctions against Russia for its invasion of Ukraine and …

Susana Gonzalez | Bloomberg | Getty Images
A worker looks up while changing a drill pipe on the Laurus oil drilling rig operated by Petroleos Mexicans (Pemex) in the Ku-Maloob-Zaap oilfield at Campeche Bay off the coast of Ciudad del Carmen, Mexico.

Mexico hopes to achieve its potential as a more important player on the world oil stage after years of underinvestment and decline. But industry officials say with the collapse in oil prices, it may take longer for Mexico to realize the benefits of the outside investments it hopes to attract. It will also take time …

Big oil’s big stage

Job cuts and the direction of oil prices are just some of the issues being discussed at this year’s IHS Energy CERAweek.

More energy deals to come?

Royal Dutch Shell will buy BG Group for $70 billion. Jackie DeAngelis explains what the deal could mean for the industry.

Eddie Seal | Bloomberg | Getty Images
Valero Energy refinery

Crude oil has risen by 25 percent over the last three weeks, which has helped energy to be the best-performing sector this month, outperforming the S&P 500 by more than 2 percent. But not every energy name is along for the ride. Refining companies like Valero and Tesoro have gotten hit hard over the past …

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An oil pump jack in the oil town of Gonzales, Texas.

Royal Dutch Shell‘s £47 billion ($69 billion) agreed deal for energy company BG Group has already created turmoil. Shares in the UK energy utility soared nearly 40 percent, sending the entire London market higher on Wednesday. Meanwhile, Shell’s own share price was down around 3 percent, reflecting concerns about the execution of the deal. Shell’s …

Labor pains in oil patch

Falling oil prices were leading to layoffs and that manifested itself in last month’s jobs report in a big way.