Oil

The sharp economic contraction is a preview of things to come for the rest of the developed world, including the United States, as the COVID-19 pandemic originated in China, impacting its economy first.

The Houston-based oil services provider lost $5.32 a share as revenue fell 5 percent year-over-year to $7.5 billion.

Native American tribes and environmental groups pressured a federal judge on Thursday to shut down work on the disputed Keystone XL pipeline from Canada to Nebraska, citing fears that workers could spread the coronavirus and construction could damage land.

OPEC says crude oil demand will fall by 6.9 million barrels per day due to the COVID-19 pandemic.

While an offshore rig might seem like an unlikely place for the virus to show up, workers share close quarters and frequently touch surfaces including handrails that make it difficult to stop the spread.

A U.S. judge canceled a key permit Wednesday for the Keystone XL oil pipeline that’s expected to stretch from Canada to Nebraska.

Exxon’s stock has increased by 21 percent in the last month.

Weekly crude oil inventories rose by 19.2 million barrels, the most on record.

The historic oil production deal will remove 20 million barrels a day, more than double the 9.7 million that is being reported.

OPEC's historic production cut has failed to impress

The price of crude has fallen about 60 percent since the start of the year

The Energy Department initiated a plan to lease space as a way to help companies suffering from the oil price plunge and after Congress failed to fund another plan to purchase oil for the facility.