Oil

U.S. crude oil stockpiles for the week ended May 15 fell by 4.98 million barrels, according to the U.S. Energy Information Administration.

UC becomes the largest educational system in the nation to shed such assets

Oil prices rallied amid production cuts and a slow return of demand.

Powell says the U.S. will recover, but it will take time

Ninety-eight exploration and production companies in Texas with $75.7 billion of debt filed for bankruptcy from 2015 through 2020.

Although some states have already kicked off re-openings, others have extended shutdowns, meaning the demand for fuel should remain at low levels.

Mexican and European countries are allegedly involved in Venezuelan oil in defiance of U.S. sanctions.

Oil prices rallied after the U.S. Energy Information Administration said oil inventories fell for the first time in 16 weeks.

Saudi Arabia is a growing threat to grab oil-market share from Alaska.

Saudi Aramco plans to cut capital spending to between $25 billion and $30 billion in fiscal year 2020, down from $32.8 billion a year ago.

Oil prices slid after Saudi Arabia announced the state-owned Aramco would reduce production by an additional 1 million barrels per day.

Saudi oil giant Aramco may cut its dividend to the Saudi government, but is likely to maintain payouts to minority shareholders as a plunge in crude prices shrinks first-quarter profits, analysts said.