Oil

Oil prices fell Tuesday as the Organization of the Petroleum Exporting Countries planned to discuss a proposal to cut the group's production but Saudi Arabia's oil minister said the group was unlikely to make a deal this week.

Officials from the Organization of the Petroleum Countries plan to discuss Wednesday a proposal that would cut 350 million barrels of the cartel's production spread out over one year.

Officials from the Organization of the Petroleum Countries plan to discuss Wednesday a proposal that would cut 350 million barrels of the cartel's production spread out over one year.

Oil settled up 3% on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed.

Oil settled up 3% on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed.

The average price of gasoline in the U.S. has risen four cents over the past two weeks to $2.25 a gallon for regular grade.

The average price of gasoline in the U.S. has risen four cents over the past two weeks to $2.25 a gallon for regular grade.

Investment in exploration and production will have to start increasing soon to help balance the global oil market, Schlumberger CEO Paal Kibsgaard told a conference in Dubai on Monday.

Investment in exploration and production will have to start increasing soon to help balance the global oil market, Schlumberger CEO Paal Kibsgaard told a conference in Dubai on Monday.

Oil prices tumbled about 4 percent on Friday on signs Saudi Arabia and arch rival Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters next week aimed at freezing production.

Oil prices tumbled about 4 percent on Friday on signs Saudi Arabia and arch rival Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters next week aimed at freezing production.

Even after a ruptured pipeline was fixed, gas prices may continue to rise before fuel supplies return to normal.

Even after a ruptured pipeline was fixed, gas prices may continue to rise before fuel supplies return to normal.

Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, then crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut.

Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, then crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut.

Oil prices were up as much as 2 percent on Wednesday after a surprise drop in crude stockpiles reported by the U.S. government for a third week in a row.

Oil prices were up as much as 2 percent on Wednesday after a surprise drop in crude stockpiles reported by the U.S. government for a third week in a row.

The U.S. Securities and Exchange Commission is investigating Exxon Mobil Corp on climate change and accounting practices, CNBC tweeted, citing Dow Jones.

The U.S. Securities and Exchange Commission is investigating Exxon Mobil Corp on climate change and accounting practices, CNBC tweeted, citing Dow Jones.

Drivers across the southeastern U.S. are facing a gas shortage and a surge in pump prices.