Stanley Reed

Officials from 18 oil-producing nations failed Sunday to reach a deal to freeze oil production at current levels.

Royal Dutch Shell became the latest big energy company to file a damage report on the impact of depressed oil prices, and ConocoPhillips became the largest U.S. oil company so far to cut its dividend.

With international sanctions lifted, the Iranian government called on its oil industry Monday to open the taps on production, a move that could add to a global glut of crude that has sent prices into a tailspin.

The British oil and gas producer BG Group said Tuesday that it was in advanced discussions with Royal Dutch Shell over a potential sale. A deal, if completed, could top $50 billion.

Oil prices rose sharply Thursday amid concerns that fighting in the Arabian Peninsula between a Saudi-led coalition and Houthi rebels in Yemen could disrupt supplies.

The British oil giant BP reported Tuesday that first-quarter earnings, excluding extraordinary items, fell 23.5 percent compared with the period a year earlier, as production slipped and it continued to sell assets.

The British oil giant BP reported Tuesday that first-quarter earnings, excluding extraordinary items, fell 23.5 percent from the period a year earlier, as production slipped and it continued to sell assets.

Exxon Mobil and Royal Dutch Shell reported sharply lower third-quarter earnings Thursday because of weaker profit margins in refining and a sluggish global economy.

Three years after its disastrous oil rig accident in the Gulf of Mexico, BP has managed to strengthen its finances by divesting itself of less profitable operations, ramping up new oil production in the North Sea and Angola and reducing its exposure to volatile investments in Russia.