oil

Updated at 5:06 p.m. ET

OPEC and its allies said Thursday they are keeping oil production largely steady, even as crude prices stage a remarkable recovery, betting that a restrained approach will lay the groundwork for prices to climb even more.

Russia and Kazakhstan will raise their output modestly, but all other members of the alliance will hold their production steady instead of returning more oil to the global market. Saudi Arabia also said it will extend its voluntary cut in oil production of 1 million barrels per day into April.

In the race to stall or even reverse global warming, new efforts are in the works to pull carbon dioxide out of the air and put it somewhere safe.

One startup in Maine has a vision that is drawing attention from scientists and venture capitalists alike: to bury massive amounts of seaweed at the bottom of the ocean, where it will lock away carbon for thousands of years.

Sheikh Ahmed Zaki Yamani, Saudi Arabia's long-serving oil minister who was instrumental in catapulting the kingdom into the energy powerhouse it is today, has died in London. He was 90 years old.

Yamani held enormous sway on the global stage during his nearly 25 years as oil minister, starting in 1962, and rose to fame for engineering the 1973 oil embargo.

Chelsea Stanfield / KOSU

State leaders are worried some sellers of natural gas may have taken advantage of utilities' desperation to heat Oklahomans' homes and illegally raised their prices.

Not many American towns the size of Pinedale, population roughly 2,000, can boast that they have a $22 million aquatic center, with a beautiful lap pool, water slides, yoga rooms and a three-story climbing wall.

Then again, most rural towns this size probably haven't had the steady pipeline of tax revenue from natural gas pumped off nearby federal land to pay for it. The opening of the center, more than a decade ago, convinced its now director Amber Anderson to move back home after college in 2018 as a young professional.

Legislative Service Bureau Photography

Governor Kevin Stitt gave his third State of the State Address on Monday before a joint session of the State House and Senate for the 58th Oklahoma Legislature.

A Dutch court has delivered a major victory to a group of Nigerian farmers in their 13-year-long effort to hold Shell's Nigerian subsidiary accountable for oil spills on their lands.

The Court of Appeal in The Hague sided with farmers and environmentalists on most of their legal claims, ruling that the Nigerian subsidiary owes the farmers financial compensation for the oil spill pollution in two villages.

After 15 years working in western oil patches, Antonio Magana finally struck out on his own, starting a small oil and gas well servicing company.

Then the pandemic hit.

Demand tanked and production ground nearly to a halt here in Wyoming's Jonah Field. Magana and his skeleton staff are down to working just three days a week.

"Right now, not much going on, you know, we've been working little hours," Magana says. "A lot of people lost their jobs a month ago, a lot of people."

Updated at 2:30 p.m. ET

In an effort to slow the nation's contribution to climate change, President Biden has signed an executive order to begin halting oil and gas leasing on federal lands and waters.

The much-anticipated move is one of several executive actions the president took on Wednesday to address the worsening climate crisis and the broader decline of the natural world, but it won't come without pushback.

As part of his ambitious plan to address climate change, President Biden is revoking a key cross-border presidential permit needed to finish the controversial Keystone XL pipeline

This likely means the end of the $8 billion pipeline, a years-long project that would have carried oil sands crude from Alberta, Canada, to the American Gulf Coast. The pipeline has come to signify the debate over whether fossil fuels should be left in the ground in order to rein in greenhouse gas emissions and avoid the worst damage from climate change.

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