OPEC:

As OPEC Cuts, U.S. Oil Exports Surge

The week OPEC agreed to extend oil-production cuts for another nine months, U.S. crude exports hit a new record. The amount of oil U.S. exporters sent abroad climbed to 1.3 million barrels a day late…

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U.S. Shale Roars Back at OPEC

OPEC may get its members to agree to continue to tamp down oil production, but it will be a Pyrrhic victory. The biggest threat to the 13-member group’s dominance has been U.S. shale. In November 2014, the Organization of…

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Stubborn Oil Glut Persists Despite OPEC Cuts

After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as…

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Permian Oil Boom Confounds OPEC

As oilfield workers for Lilis Energy Inc threaded together drill pipes one recent morning in the Permian Basin, a bulldozer cleared sagebrush to make way for the company’s fifth well since January. Lilis aims to…

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Saudis, Russia Want Output Cut Extended to 2018, Oil Jumps

Oil rallied after Saudi Arabia and Russia stoked expectations that production cuts might be extended for nine months. Futures closed at their highest in more than two weeks. While output curbs that started Jan. 1 are…

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OPEC to U.S.: Please Don’t Pump So Much Oil!

OPEC has asked a favor of other major producers: Please stop pumping so much and help us balance the market. The unusual plea was issued Thursday in the cartel’s closely-watched monthly report, which found that…

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