Oil News

U.S. oil prices fell to around $56 a barrel after the OPEC Plus cartel said it would bring more oil to market.

It’s been a brutal three months for the American oil and gas industry. Oil prices have dropped to their lowest level since 2021, below what most shale companies need for new drilling to be profitable. China recently halted imports of American …

For countries that depend heavily on oil revenue, dropping prices are worrisome.

The group agreed to raise output in June, a sign that Saudi Arabia and its allies appear to be weary of cutting output and may be trying to appease President Trump, who has pushed for lower prices.

President Trump’s trade policies have helped to push down oil prices while raising the costs of materials for oil and gas companies.

Stuart Brioza, a chef and an owner of the acclaimed San Francisco restaurants State Bird Provisions, the Progress and the Anchovy Bar, never imagined that switching kitchen oils could be so political. Two years ago, he stopped using grapeseed oil in …