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Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with plans to boost supplies, data from the International Energy Agency showed.

The national average diesel price dropped 5.1 cents to $3.704 per gallon, according to Energy Information Administration data released Aug. 12.  

A Marathon Oil Corp. shareholder sued to block its proposed acquisition by ConocoPhillips, claiming the $17 billion deal “significantly undervalues” the target company.

Some of the top U.S. oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming.

7-Eleven announced a major expansion to its diesel refueling network Aug. 8, aiming to increase the number of locations available to professional drivers.

Nikola Corp. reported a 103% revenue increase but wider losses in the second quarter as electric vehicle sales gained momentum, the company announced Aug. 9.

Energy Transfer and Williams Cos. are talking to data center operators about building pipelines directly to their facilities to fuel on-site power plants as the centers prepare for a boom in AI.

Occidental Petroleum Corp. raised its production and capital spending plans for this year after closing its $10.8 billion acquisition of CrownRock LP earlier this month.

The Biden administration is following the paper trails of some biodiesel producers amid heightened concern the fuels are at times being made with deceptive ingredients, violating federal law.

Before leaving Washington for a six-week summer break, senior Senate Republicans again pushed back on the White House’s electric vehicle agenda.