The physical and chemical differences between these crude types determine how easy they are to refine and their market value.

American oil refiners stand to be big beneficiaries if Venezuela's vast crude reserves eventually flow more freely into the world market. Refineries along the Gulf

The U.S. is the world’s biggest producer of both crude oil and natural gas. One fuels our cars and airplanes. The other heats and cools our homes. But the outlook for these two commodities is heading in different directions. The U.S. has gotten great at ...

U.S. crude oil production likely will fall over the next year-and-a-half as producers cut back on drilling activity in response to lower oil prices, the U.S. Energy Information Administration said Tuesday. In its monthly Short Term Energy Outlook, the EIA ...

President Donald Trump’s policies are getting in the way of drillers from pumping more oil, producers and career oilmen say, warning that low prices threaten thousands of jobs. Throughout Trump’s second administration, oil prices and the number of rigs ...

This is read by an automated voice. Please report any issues or inconsistencies here. SACRAMENTO — In a bid to stabilize struggling crude-oil refineries, state lawmakers on Saturday passed a last-minute bill that would allow the construction of 2,000 new ...

Venezuela holds the world's largest proven oil reserves, surpassing Saudi Arabia with around 303 billion barrels of crude oil.

HOUSTON, Oct 15 (Reuters) - Rigs drilling beneath the deep waters of the Gulf of Mexico will drive U.S. oil industry growth this year and next as onshore production slows due to lower prices and maturing shale fields, and analysts and consultants expect ...