Continental Resources executive chairman Harold Hamm says U.S. shale producers are being forced to act because of storage tank limits.
Major U.S. oil companies and industry groups are opposed to mandated cuts, which would be an extraordinary step in the United States.
Prices drop after a proposed meeting is delayed, but the energy secretary expects a 10% to 15% drop in production after a meeting later this week.
When the three-year Saudi Arabia-Russia production-cut marriage known as OPEC+ ended acrimoniously on March 6, the oil and gas world as we know it ended. For now.
Trump said April 2 he had brokered a deal between Russia and Saudia Arabia, but made no offer to reduce U.S. output, and benchmark Brent oil futures surged 21% in a record one-day rise. Here are analysts’ views on the deal.
A Texas oil and gas regulator on April 2 said he talked with Russian Energy Minister Alexander Novak about the possibility of both Russian and Texan producers' trimming production.
Stabilizing the oil markets is expected to be a challenge because demand has collapsed.
Trump calls the price war between Russia and Saudi Arabia ‘crazy.’
McCaul applauds efforts to convince Saudis and Russians to cut production.
The operations at the Achimov Formation are not subject to sanctions.