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U.S. refiners are not planning to make big-ticket investments to process more domestic crude and less oil from top suppliers Canada and Mexico, industry sources and analysts said, an obstacle to President Trump's plan to boost oil output. Trump's pledge to unleash U.S. energy production and lower prices for consumers has focused on increasing domestic oil drilling. At the same time, his tariff threats have cut imports of crude from Canada and Mexico, which account for around a quarter of the oil U.S. refiners process, even though in the end he decided to exempt energy imports.

(Bloomberg) -- An exchange-traded product tied to declines in the oil market just saw its biggest outflow of funds since 2020. With crude prices crashing to a four-year low, some investors pulled out of the fund to cash in on profits.Oil has been hit by the one-two punch of OPEC+ choosing to ramp up output hours after US President Donald Trump last week unveiled a spate of trade policies that were especially punishing to major crude-importing economies, including China and India. Futures in New

A plunge in oil prices below $60 per barrel due to an escalating trade war may trigger anxiety across the U.S. oil patch, likely forcing companies to double down on measures including cuts to share buybacks and capital expenditures, analysts have said. Brent crude and West Texas Intermediate (WTI) futures slid to their lowest since February 2021, as sweeping tariffs imposed by U.S. President Donald Trump sparked concerns of a recession amid signs of higher supply from top producers. Raymond James analyst Pavel Molchanov said some producers might reduce 2025 capex if the downturn persists, though broader cuts will depend on the depth and duration of the slump.

Oil and related energy stocks fell Wednesday as the price of crude dropped to its lowest level since 2021.

(Bloomberg) -- The angry mutterings at the Permian Basin Petroleum Association’s “Spring Swing” golf tournament this week weren’t all about missed putts or lost balls. The Texas oilmen on the fairways had a more serious concern: The president they helped elect was tanking oil prices.The market rout sparked by President Donald Trump’s trade war is touching almost every part of the economy. But there are probably few industries feeling more aggrieved right now than US shale oil. Over the last 15 y

(Bloomberg) -- With crude prices plunging below $60 a barrel, consumers who count fuel as their single biggest expense are rushing to lock in supplies. More than 25 million barrels of options contracts on the Brent benchmark traded in structures that protect buyers from price gains this week. The activity reflected consumer hedging that allows airlines, truckers and shipping companies to lock in lower fuel costs, according to people involved in the market. Industrial consumers of oil often use d

U.S. oil major Chevron plans to increase the use of a technique that allows it to fracture subterranean rock in three wells at a time in the Permian basin, the company told Reuters, in an effort to cut the time and cost of producing oil. Chevron's expansion of the technique, known as triple-frac, comes as the second-largest U.S. oil producer expects to continue growing output in the Permian, the biggest U.S. oilfield, even as it begins to slow spending in the basin. The shale oil revolution in the United States has been driven by technological advancement.