Photo of BP Oil in London

BP to Cut 10,000 Jobs Worldwide Amid Virus Pandemic

LONDON — Oil and gas company BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the energy industry. “We are spending much, much more than we make – I am talking millions of dollars, every day. We have ...
Photo of a gas station showing gas prices

Q&A: With Rock-Bottom Prices, Will the Oil Industry Recover?

NEW YORK — With a barrel of crude oil costing less than a New York pizza, many U.S. shale producers are being pushed to the brink of bankruptcy and experts are wondering when, and if, the oil industry will recover. The price of benchmark U.S. crude oil clos...
Photo of Aramco refinery in Saudi Arabia

Oil Prices Jump on Fears of Iranian Retaliation Against Us

LONDON — The price of oil surged Friday on concerns that Iran might respond to the killing of its top general by the United States by disrupting global supplies of energy from the Mideast. “Revenge will come, maybe not overnight, but it will come and until ...
Photo of an aerial view of a steel company in Germany

Global Carbon Pollution Continues to Rise, but More Slowly

WASHINGTON — The world continues to increase the amount of heat-trapping carbon dioxide it pumps into the air, but it’s not rising as fast as in the previous couple years. “Emissions grew more slowly than last year but we still set a global record. It’s har...