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Mideast Qatar Oil Meeting
In this Sept. 30, 2015, file photo, oil pumps work in the desert oil fields of Sakhir, Bahrain. (AP Photo/Hasan Jamali, File)
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Iran snubs Doha proposal, won’t freeze on oil output levels

Iran on Wednesday snubbed a proposal agreed to by four influential oil producers to cap their crude output if others do the same, with a senior Oil Ministry official saying Tehran has no intention of freezing oil output levels.

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Specialist Michael Pistillo, left, works with traders at his post on the floor of the New York Stock Exchange, Wednesday, Jan. 20, 2016. Energy stocks are leading another sell-off on Wall Street as the price of oil continues to plunge. (AP Photo/Richard Drew)
Specialist Michael Pistillo, left, works with traders at his post on the floor of the New York Stock Exchange, Wednesday, Jan. 20, 2016. (AP Photo/Richard Drew)
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Stocks slide as oil tumbles, S&P lowest in almost 2 years

U.S. stocks slumped Wednesday as the price of oil suffered its worst one-day drop since September, and the Standard & Poor's 500 index fell to its lowest level in almost two years.

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Iran Nuclear Deal Oil
In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. (AP Photo/Vahid Salemi, File)
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With wave of Iranian oil imminent, a shudder in Saudi Arabia

A new wave of oil from Iran will flow into a global market awash in oil where prices are plunging to depths not seen in a dozen years.

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LONDON - FEBRUARY 02: A Royal Dutch Shell petrol station is seen in Battersea on February 2, 2006 in London, England. Royal Dutch Shell's released record annual profits for a UK listed company today at GBP 13.12bn (USD 22.94bn). (Photo by Bruno Vincent/Getty Images)
Bruno Vincent, Getty Images
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As oil plunges, energy companies cut jobs, postpone projects

The world's biggest oil companies are slashing jobs and backing off major investments as the price of crude falls to new lows -- and there may be more pain to come.

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Category: Money & Business Tags: , , ,
Gas Prices
Joe Raedle, Getty Images
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Even with Iran-Saudi tension, supply dictates price of oil

A persistent glut of oil is trumping even Middle Eastern geopolitical tension, extending the slump in oil markets into the new year.

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Gas Price
Ronira, ThinkStock
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Oil slump weighing on housing markets in Texas, North Dakota

There's a dark side to those delightfully low gas prices: Housing markets are slumping in communities that were recently flush from the U.S. shale oil fracking boom.

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Gas
DELLWOOD, MO - JANUARY 20: A gas station advertises gasoline for $1.68 a gallon on January 20, 2015 in Dellwood, Missouri. (Photo by Scott Olson/Getty Images)
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Why many experts missed this – Cheap oil can hurt US economy

If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy.

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oil barrels
Andrey Korobov, ThinkStock
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NJ considering crude oil disclosure

For more than a month now, railroads have been required to notify a state's emergency officials when massive amounts of a certain crude oil would be transported within their borders. However, it's up to each state whether they share that information with the public, and New Jersey remains undecided.

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Category: New Jersey News, News Tags: ,
Worker turning valves at gas drilling site. (Lester Lefkowitz, Getty Images)
Worker turning valves at gas drilling site. (Lester Lefkowitz, Getty Images)
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US Fails to Inspect Higher Risk Oil Wells

The government has failed to inspect thousands of oil and gas wells it considers potentially high risks for water contamination and other environmental damage, congressional investigators say.

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U.S. Headed for Domestic Oil Only? [AUDIO]

Complete oil independence doesn't seem too far-fetched for the United States, which saw its crude oil imports fall by 9 percent in 2013, according to the Census Bureau.

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