Oil

U.S. energy firms last week increased the number of rigs looking for new oil for the first time since late December.

Global oil markets are still well supplied, however, thanks in part to a spike in U.S. output.

Many U.S. refiners rely on the type of oil that Venezuela produces.

Investors perceive oil supply to be fairly tightly balanced against demand.

Earnings at American Airlines grew in 2019, while profits at Southwest and JetBlue dropped double-digits.

A massive technological breakthrough in the Gulf of Mexico is boosting productivity.

Oil prices have been supported by production cuts led by OPEC.

Analysts say production cuts by OPEC are likely to support oil prices.

Tempering support for prices, however, are signs of weakening demand and surging U.S. output.