Texas-Based Exxon Mobile Lost $1B In Second Quarter As Oil Use Continues To FallIrving-based Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the coronavirus pandemic kept households on lockdown.
State Of Texas Projects A Nearly $5B Budget Shortfall Due To Coronavirus PandemicAccording to Texas Comptroller Glenn Hegar, the budget forecast for the state has plummeted to a projected $4.6 billion shortfall due to the coronavirus pandemic and low oil prices.
Oil And Gas Prices Rising As Cabin Fever Increases And Social Distancing EasesAfter weeks of quarantine, Texans and and the rest of the country is finally getting back on the road to go to stores, beaches and parks, guzzling more gas along the way.
With Demand For Oil Continuing To Fall, $1 Gasoline Could Soon Be On The WayWith most of the country on shutdown due to the coronavirus pandemic, oil consumption has plunged, taking oil prices along with it.
As Prices Plummet, The Oil And Gas Industry Scrambles To Keep Businesses AfloatThe global economic crisis caused by the coronavirus pandemic has devastated the oil industry in Texas and across the U.S., which pumps more crude than any other country.
Fewer Open Businesses, Flights & Drivers Could End With The World Running Out Of Space To Store OilWith an unprecedented collapse in oil demand, that has sent crude crashing to 18-year lows, the world could soon run out of room to store all the unneeded barrels of oil.
Halliburton To Furlough 3,500 Workers On Campus In TexasOilfield service company Halliburton has announced it will institute a mandatory furlough for some 3,500 employees in Texas.
Energy Department Says US Is Now World's Top Oil ProducerSeveral states hit record production in August including Texas, which accounts for about 40 percent of U.S. crude
Economy Keeps Growing Even With Rising Oil PricesAmerica's rediscovered prowess in oil production is shaking up old notions about the impact of higher crude prices on the U.S. economy.
OPEC Enters Meeting That Could Set Direction Of Oil PricesOfficials from major oil-producing nations are expected to agree this week to boost output, but just how much they will open the spigot remain a wild card.
US Oil Prices Top $70 A Barrel For First Time Since 2014Benchmark U.S. crude rose $1.01 to settle at $70.73 a barrel on the futures market in New York. The international standard, Brent crude, was up $1.30 to $76.17 in London.
Harvey Could Have Deep Impact On Texas Oil, U.S. EconomyMassive flooding caused by Harvey along Texas' refinery-rich coast could have long-standing and far-reaching consequences for the state's oil and gas industry and the larger U.S. economy.
Texas Senate OKs Plan To Slow Local Property Tax Increases The Texas Senate has approved a plan designed to slow the increase of local property taxes as Republicans scramble to deliver on fiscally conservative promises despite a state budget crunch.
OPEC Cuts Will Have A Muted Effect On ConsumersOPEC's decision to cut production gave an immediate boost to oil prices, but the impact on consumers and the U.S. economy is likely to be more modest and gradual.
Analyst: Gas Prices Dip To US Average Of $2.20 Per GallonThe average price of regular grade gasoline has fallen nationally to $2.20 per gallon, a drop of 6 cents over the past two weeks.