oil

The pandemic massively reduced the world's consumption of oil. Now two influential reports suggest that this state of affairs will continue well into 2021 — if not longer.

When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty.

Oil companies have slashed production across West Texas and southeast New Mexico, where communities are also hurting from pandemic-driven business shutdowns.

The pandemic means the world is using far less oil. But pumps are still going, creating a huge oversupply. Companies are often willing to operate pumps at a loss — for a little while.

The supply of oil has surged as the coronavirus pandemic has destroyed demand. Prices have plummeted and analysts are starting to ask if the world will have enough space to store all the extra oil.

Global oil prices rose by about 4% — a modest increase by historical standards — after the U.S. military killed Qassem Soleimani, the leader of Iran's Quds Force, in an airstrike in Baghdad.

Natural disasters, protests and stark scientific reports are heightening concern over climate change. And companies are under pressure from banks and investors to green their corporate images.

What happens to the country's resources — once a revenue stream for ISIS — will be important not to world oil markets but to the future of Syria itself, write Roger Diwan and Daniel Yergin.

The president is renewing his push for U.S. control of Syrian oil. Experts say the limited oil there belongs to Syria, but it may provide a pretext for a continued U.S. presence in the country.

The MSNBC host's book compiles the most convincing research and journalism on the harm oil and gas have done to global democracy, and then weaves together a narrative of greed, power and corruption.

Climate activists protesting oil and gas are the first charged under a new critical infrastructure law in Texas. Supporters say the laws protect ports, pipelines and other sensitive places.

"This attack did not originate from Yemen despite Iran's best efforts to appear so," said Saudi Col. Turki al-Malki. U.S. Secretary of State Mike Pompeo called it an "act of war" against the kingdom.