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NPR
Energy
Gas prices reach over $5 a gallon at a petrol station in Los Angeles on Feb. 25. Oil prices continue to surge after Russia's invasion of Ukraine, with some analysts describing market conditions as verging on "panic."

Oil prices surge as fears about Russian crude supplies intensify

Mar 02, 2022
The global benchmark topped $113 briefly on Wednesday, just days after it crossed the triple-digit mark for the first time in seven years.
NPR
Energy
Amin Nasser, president and chief executive officer of Saudi Aramco, speaks during the fourth edition of the Future Investment Initiative conference at the Ritz-Carlton hotel on Jan. 27, in Riyadh, Saudi Arabia.

Saudi Oil Giant Aramco Reports 44% Profit Slump In 2020 Amid Coronavirus Pandemic

Mar 21, 2021
Saudi Arabia's state-backed oil company earned $49 billion last year as the pandemic slashed fuel demand around the globe, in what its CEO called "one of the most challenging years in history."
NPR
Coronavirus Live Updates
An oil tanker sits at the port of Ras al-Khair in Saudi Arabia in December. The world is approaching the limits of its capacity to store and ship oil, thanks to an unprecedented glut.

Oil Prices Keep Slipping As Demand Drops By Record Amounts

Apr 15, 2020
The International Energy Agency says the industry is about to test the limit of how much oil it can transport and store, given the phenomenal drop in demand caused by the coronavirus pandemic.
NPR
The Coronavirus Crisis
An Austrian army member stands in front of OPEC's headquarters in Vienna on Thursday.

As Demand For Oil Dries Up, OPEC And Allies Agree To Historic Cuts In Output

Apr 12, 2020
Marathon video chats led to a record-setting 9.7 million barrels per day in cuts. But analysts say that's not a big enough drop to balance oil markets, given the total collapse in demand for crude.
NPR
The Coronavirus Crisis
Pump jacks draw crude oil from the Long Beach Oil Field near homes in Signal Hill, Calif., on March 9. The world's crude oil supply is rising even as demand is cratering.

We're Barreling Toward An Epic Glut Of Oil

Mar 20, 2020
The supply of oil has surged as the coronavirus pandemic has destroyed demand. Prices have plummeted and analysts are starting to ask if the world will have enough space to store all the extra oil.
NPR
Middle East
This satellite image shows smoke rising from Saudi Aramco's Abqaiq oil processing facility in Saudi Arabia.

Iran Denies It Is Behind Drone Attacks On Oil Plants In Saudi Arabia

Sep 15, 2019
Houthi rebels in Yemen have claimed responsibility for the attacks, but Secretary of State Mike Pompeo accused Iran of launching an "unprecedented attack on the world's energy supply."
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