OIL AND GAS
Exxon to cut spending $10B as industry layoffs grow
Exxon Mobil Corp. said yesterday it will cut its spending by about a third this year, joining dozens of oil and gas companies that are slashing their costs as they reckon with low oil prices and weakened demand as a result of the coronavirus pandemic.
4 states move to help oil as prices 'decimate' industry
A Texas regulator asked the state yesterday to delay collecting oil and gas taxes, joining regulators in three states who are pushing to help the drilling industry survive the crash in oil prices brought on by the coronavirus pandemic.
Trump on oil production cuts: 'Maybe we will'
President Trump yesterday didn't rule out asking U.S. oil and gas producers to throttle back production if it means the United States can reach a deal to resolve a price war between Russia and Saudi Arabia threatening to bankrupt some U.S. energy companies.
Trump's oil meeting: The aftermath, details and drama
Over the weekend, Trump first nixed the idea of tariffs to protect the oil industry, then reversed. Meanwhile, oil executives and lawmakers who attended a White House oil summit Friday said they pressed the president on other ideas. What's the administration's plan?
Exxon, Mnuchin, lawmakers weigh in ahead of Trump oil meeting
President Trump may have pushed up the price of oil when he tweeted yesterday about a potential deal with Saudi Arabia and Russia, but he is expected to face a divided oil industry when he meets with executives today at the White House.