There is a mismatch between the kind of oil the U.S. produces and what our refineries can currently handle. It is the root ...

While there's ample oil in the ground, the world economy struggles to maintain prices that make extraction economically viable, especially for heavy oil, crucial for diesel and jet fuel. Economic ...

Oil consumption in China is nearly double that of its oil production per day—6.3 million versus 3.5 million barrels per day (b/d), respectively. How long can the country sustain this rate without ...

There is no place else like the Faja, Venezuela's heavy oil belt that runs east to west, half way across the country along the lush Orinoco River valley. The Faja holds more than one trillion barrels ...

Canada's proposed emissions cap could limit oil production and increase costs for Canadian producers. This could significantly impact U.S. refineries, many of which are specifically equipped to ...

With the world’s reserves of light oil diminishing, oil companies are increasingly turning to heavier varieties – which make up 70% of global oil reserves – to meet rising energy demands. Existing ...

HOUSTON, April 9 (Reuters) - Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add ...