The Permian Basin, which runs through West Texas and New Mexico, produces more oil than most countries.

Cutting production usually leads to an increase in prices. Here’s why that might not be the case this time.

The cartel releases its monthly oil market report on Thursday.

The small increase of 100,00 barrels a day may be a sign that the cartel thinks a recession is coming.

Russia is the world’s third-largest oil producer — such a decision won’t be made lightly.

“The harsh reality for U.S. oil markets is that there is no switch that anyone can flip to suddenly turn on oil production overnight,” one expert told us.

Part of it comes down to the oil world’s “delicate equilibrium.”

A major Texas observatory is trying to convince oil and gas companies to minimize light pollution from drilling rigs and gas plants.

Two reasons: reluctant investors and potential regulations.

OPEC and its allies are having trouble coming to an agreement, because individual countries see thing differently.