oil

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.

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.

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.

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.

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

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.

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.

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.

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.

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.