Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the 1997 Asian economic crisis, International Energy Agency data show.
June 16, 2015Business, Fuel
World Facing Longest Oil Glut in at Least Three Decades
Business, Fuel
Diesel Average Price Slips 1.4¢ to $2.87 in Third Drop
The average price of diesel dropped for a third week, falling 1.4 cents to $2.87 a gallon, the Department of Energy reported June 15.
June 15, 2015Business, Fuel
Agility, Freightliner Trucks Set Seven-Year Agreement
Agility Fuel Systems has reached a seven-year agreement under which it will be the sole provider of natural-gas fuel systems for Freightliner Trucks.
June 15, 2015Government, Fuel
EPA Plan to Cut Airplane Emissions Won’t Take Effect Until 2018
The U.S. Environmental Protection Agency on June 10 declared airplanes as a significant contributor to global climate change, but said a final rule requiring cuts in emissions is still years away.
June 11, 2015Business, Fuel
US Oil Production to Peak at 43-Year High Before Trailing Off
U.S. oil output will peak at a 43-year high in 2015 as producers work through a backlog of uncompleted wells before trailing off in the second half of the year.
June 10, 2015Business, Fuel
DOE Holds 2015 Diesel-Price Forecast at $2.88
The Department of Energy held its 2015 forecast for U.S. diesel prices at $2.88 a gallon but lowered its 2016 projection by 9 cents to $3.03.
June 9, 2015Business, Fuel
Diesel National Average Drops 2.5¢ to $2.884 in Second Straight Decline
Diesel fuel’s national average price fell for a second consecutive week, sliding 2.5 cents to $2.884 a gallon, the Department of Energy said June 8.
June 8, 2015Business, Fuel
Despite Diesel’s Decline, Nat Gas Seen as Challenger to Oil’s Monopoly as Transportation Fuel
Despite the recent downturn in the price of oil, the use of natural gas as a transportation fuel could displace more than 1.5 million barrels a day of oil demand by 2030, according to a new report.
June 8, 2015Business, Fuel
California Drought, Texas Floods Cut Produce Truck Demand
California’s drought and Texas’ floods have softened freight demand and created a more stable environment for produce shipments, in sharp contrast to 2014’s painful price spikes and capacity constraints, industry officials said.
June 8, 2015Business, Fuel
OPEC to Maintain Current Oil Output
OPEC ministers extended their campaign to restrain rival oil producers by continuing to pump oil into a global supply glut and keeping their combined daily production target at 30 million barrels.
June 5, 2015