Your Pulse On America: Live And Unfiltered
Oil prices resumed their downward slide after the OPEC Plus cartel of oil producers said over the weekend that it would pump more oil, despite concerns that President Trump’s trade war will curb demand. The U.S. benchmark oil price fell to around $56 a barrel, from $58 on Friday. For many companies, the steady decline…
Oil prices are falling. Economists are cutting forecasts for global economic growth. Oil giants are reporting lower profits. But on Saturday, eight countries that belong to the oil cartel known as OPEC Plus said they would add about 411,000 barrels of oil a day in June. The move, which follows a similar step by the…
The two largest U.S. oil companies reported their lowest first-quarter profits in years on Friday as they braced for the economic fallout from President Trump’s trade war, which has weakened consumer confidence and pushed oil prices down. U.S. crude prices slipped below $60 a barrel this week, a threshold below which many companies cannot make…
Oil is trading at its lowest level in nearly four years. Costs are rising. And Wall Street is growing more worried by the day that President Trump’s trade policies will tip the United States into a recession. The reaction in the oil patch? Silence, mostly. Oil and gas executives, eager to stay in Mr. Trump’s…
Many oil and gas executives thought they had hit pay dirt with President Trump’s election. A Trump administration would be staffed by people sympathetic to the industry. More areas would be opened to drilling and costly regulations swept away. In recent days, though, the industry has had ample reason to question that narrative. The tariffs…