David Wethe

America's biggest oil companies are warning that global crude markets may be nearing an inflection point of higher prices the longer the Strait of Hormuz stays closed.

Diamondback Energy Inc., one of the leading independent shale oil producers in the US, is raising output in response to rising prices caused by the Iran war.

Diamondback Energy Inc., one of the biggest US shale producers, predicts that drillers will add as many as 30 rigs to America’s most prolific oil field by the end of the year as the Iran war sends crude prices soaring.

It’s taken a war in the Middle East and $100-a-barrel oil to convince companies.

Hunter Hunt, the grandson of famed Texas oil baron H.L. Hunt, is concerned about the impact from damaged Middle Eastern energy infrastructure that could leave oil production lower for years to come.

Exxon Mobil Corp. and ConocoPhillips are pushing for durable contract terms and a way to resolve billions of dollars owed to them as they consider re-entering Venezuela after exiting the country two decades ago.

Exxon Mobil Corp. y ConocoPhillips están ejerciendo presión para conseguir condiciones contractuales duraderas y una vía para resolver la deuda de miles de millones de dólares que se les adeuda, mientras estudian la posibilidad de volver a entrar en Venezuela tras haber salido del país hace dos décadas.

Hard-right candidate with little connection to the oil industry is primed to win a place on the Railroad Commission of Texas.

Two extremes are currently playing out in the Permian Basin. Drillers are reaping the benefits of a historic price rally due to the Iran war. But when it comes to natural gas, they’re having to pay customers to take it away.

“We're losing money hand over fist on gas,” Elevation CEO Steve Pruett said in an interview. “Gas is half our product, so it's really maddening,” he said.