Energy giant BP has agreed to sell its petrochemicals business to British chemicals company Ineos in a $5 billion deal that will help reshape its business for the global transition to lower-carbon energy.
Crude-oil futures were volatile in electronic trade Sunday night after OPEC and allied nations agreed Saturday to extend a production cut of nearly 10...
West Texas Intermediate futures rose 20%, extending a period of huge volatility that has ricocheted through the energy industry and broader financial markets.
Oil prices extended their declines as storage space ran low for the glut of crude no longer needed by economies hard hit by the coronavirus.
Saudi Arabia fired another salvo in its oil-market war with Russia on Wednesday, unveiling plans to boost its oil-production capacity to a record 13 million barrels a day. The price of crude oil fell more than 3% after the announcement.