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WASHINGTON — The Supreme Court agreed to consider reviving a critical approval for a railroad project that would carry crude oil and boost fossil fuel production in rural eastern Utah.

Chinese purchases of a relatively niche type of fuel from the U.S. have been the single biggest contributor to global oil demand growth in recent years, the International Energy Agency said.

Noble Corp., the world’s biggest offshore oil rig contractor by market value, agreed to buy its smaller rival Diamond Offshore Drilling Inc. in a deal valued at $1.6 billion.

U.S. diesel demand plummeted to its lowest seasonal level in 26 years in March, driven by slowing economic growth.

OPEC+ is pressing on with informal talks aimed at finalizing an agreement on oil output cuts this weekend, officials said.

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.

John Hess is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter.

Democrats are asking the Department of Justice to investigate major oil companies and their trade groups following a congressional probe.

Last year, the demand for loans from fossil fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022.

MIAMI — The Biden administration on April 17 reimposed crushing oil sanctions on Venezuela.