Just over a decade ago, this sleepy farming community on the fringe of North Dakota's Bakken shale formation hosted the state's first horizontal oil well to be hydraulically fractured, or fracked, helping set in motion an economic revolution that shook the world.
Energy
Lifting U.S. crude export ban could boost production, cut gas prices: study
Lifting U.S. crude export restrictions could boost domestic oil production and cut gasoline prices, according to a report issued Friday by Columbia University's Center on Global Energy Policy.
Oil prices extend slide in commodities sell-off
Oil prices fell more than 1 percent on Wednesday after touching their lowest in nearly six years the previous session, extending losses alongside a sell-off in other commodities.
Oil prices down again as UAE defends holding production
Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.
Venezuela, Iran plea for oil cut hits Gulf OPEC brick wall
A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday.
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Iran's supreme leader Ayatollah Ali Khamenei told Venezuela's president on Saturday he backed coordinated action between Tehran and Caracas to reverse a rapid fall in global oil prices which he described as a "political ploy hatched by common enemies".
Plunging oil prices have sparked a big rally in Asian government bond markets as lower fuel costs cut inflation expectations, but the rally could be built on shallow foundations as monetary policymakers remain out of step with tumbling bond yields.
The Keystone XL oil pipeline cleared two hurdles on Friday, setting up a showdown between Congress and President Barack Obama who has raised new questions about the project after more than six years of review.
Global oil markets resumed their slide on Friday, with Brent and U.S. crude hitting April 2009 lows and ending down for a seventh straight week, although prices recovered from their lows after a sharp drop in the U.S. oil rig count.
Global oil prices were little changed for a second straight day on Thursday after better-than-expected U.S. jobs data helped the market hold ground after a 10 percent loss earlier in the week.
The White House does not feel pressure to loosen restrictions on U.S. oil exports further and views debate over the issue as resolved for now, John Podesta, a top aide to President Barack Obama, told Reuters in an interview.
Royal Dutch Shell will pay out 55 million pounds ($83.4 million) in compensation for two oil spills in Nigeria in 2008 after agreeing a settlement with the affected community.
Global oil markets on Tuesday slumped for a fourth straight session as mounting worries about a supply glut pressured crude prices, which have fallen almost 10 percent this week to their lowest since spring 2009.
Oil prices fell to fresh 5-1/2 year lows on Tuesday, extending losses after a 5 percent plunge in the previous session as worries over a global supply glut intensified.
