Oil

op oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts.

Gov. Greg Gianforte, R-Mont., explains why the Keystone XL Pipeline being in operation is crucial for rural Montana and the nation.

GOP leaders say permanent suspension would be economically devastating for the state.

Oil prices fell Friday after President Biden warned it will take months for the U.S. to get a handle on the COVID-19 pandemic.

Transportation Secretary nominee Pete Buttigieg claimed Thursday that President Biden's decision to block the Keystone XL Pipeline is part of a broader plan that will end up being a net positive for employment, despite union outrage based on the loss of more than a thousand jobs.

Biden plans to scrap the Keystone pipeline, as he rejoins the Paris climate accord.

President-elect Joe Biden's administration will crack down on fossil fuels on his first day in office, according to his transition team.

The Biden administration shutting down construction of the Keystone XL pipeline could end thousands of American construction jobs.

Brent crude futures edged up on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption.

Alaska Republican Gov. Mike Dunleavy told Fox Business Network Monday that reported plans by the incoming Biden administration to cancel pipeline permits makes "no sense across the board.”

The $9 billion project, which would move up to 830,000 barrels of crude oil daily from the province of Alberta to Nebraska, has been delayed by legal issues. 

Oil majors bet offering more fresh food and services at gas-station stores can help offset declining oil income.

Oil prices were mixed on Friday as strong import data from China, the world’s biggest crude importer, that boosted sentiment earlier ran into concerns about Chinese cities in lockdown due to coronavirus outbreaks.

U.S. energy independence, a cornerstone of Trump's administration, is being watered down.

U.S. crude oil production has fallen 2 million barrels per day in the last year

Supporters of drilling have viewed development as a way to bolster oil production, generate revenue and create or sustain jobs

Investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output.