The Organization of Petroleum Exporting Countries decided Dec. 4 to maintain the current crude oil production level until June in an effort to keep prices stable.
December 4, 2013Business, Fuel
OPEC Maintains Oil Output Level
Business, Fuel
Oil Rises From Two-Week Low
Oil rose from its lowest level in two weeks Sept. 11, on speculation that a U.S. attack on Syria may threaten Middle Eastern oil exports even after President Obama decided to delay military strikes, Bloomberg News reported.
September 11, 2013Business, Fuel
Oil Drops as Storm Concerns Fade
The price of oil dropped after the National Hurricane Center in Miami said there was no tropical cyclone activity in the Atlantic basin, Bloomberg News reported.
August 19, 2013Business, Fuel
Oil Use Falls to Lowest Level in 20 Years on High Prices
The American Petroleum Institute reported demand for oil in February fell to the lowest level for the month in 20 years, according to Bloomberg News.
March 22, 2013Business, Fuel
Valero Energy Corp.’s 4Q Income Increases
U.S. independent oil refiner Valero Energy Corp. said its fourth-quarter net income rose to $1 billion, or $1.82 per share, from $45 million, or 8 cents per share, a year ago.
January 29, 2013Government, Business, Technology, Equipment, Fuel
Oil-Field Specialty Trucks HOS Exemption Should Be Extended to Others, Carriers Say
An hours-of-service waiting time exemption for drivers of “specially constructed” oil-field operations trucks should be extended to include such other oil and gas operations trucks such as those that deliver sand and water, several motor carriers and trade association officials told federal regulators.
October 15, 2012Business, Fuel
Oil Rises After Two Days of Drops
Oil rose after two days of decreases on optimism that European finance ministers will make progress on the region’s debt crisis, Bloomberg reported.
October 9, 2012Government, Business, Technology, Equipment, Fuel
FMCSA Extends Comment Deadline for Oilfield Rule
The Federal Motor Carrier Safety Administration has pushed back the deadline for public comment about changes to the hours-of-service rules for oilfield haulers.
August 16, 2012Business, Fuel
Crude Oil Inventories Drop
Stockpiles of crude oil dropped 3.7 million barrels to 366.3 million, in the seven days ended Aug. 10, said the Department of Energy on Wednesday.
August 15, 2012Government, Business, Fuel
Feds Approve Southern Leg of Keystone Pipeline
Federal officials have approved a permit for the southern leg of the Keystone XL pipeline that will run from an oil refinery in Cushing, Okla., to the Texas coast, the Associated Press reported.
July 31, 2012