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The latest production forecast for this year represents a drop of about 50,000 barrels a day from the Energy Information Administration’s previous projections in June.

The measure would open new opportunities for oil and gas development in the mammoth National Petroleum Reserve-Alaska, an Indiana-sized parcel in the northwest of the state.

Drilling in the U.S. shale patch declined at the fastest pace in almost two years as mounting international trade tensions threaten to stifle energy demand.

Occidental Petroleum agreed to buy Texas shale driller CrownRock in a cash-and-stock deal valued at $10.8 billion as consolidation heats up in North America’s most-prolific oil basin.

The Biden administration released plans Sept. 29 to hold three auctions of offshore drilling rights over the next five years — part of what it cast as an effort to phase down oil leasing in favor of clean energy.

The Biden administration on Sept. 14 issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal court.

The war in Ukraine has touched off a feud between the White House and U.S. oil industry as many companies reap record profits from rising prices despite pumping less crude than before the pandemic, leaving American consumers beset by surging gasoline costs.

New oil and gas leasing within 10 miles of Chaco Culture National Historical Park will be prohibited for the next two years as officials consider a proposal to withdraw federal land in the area from development for a 20-year period, the U.S. Department of Interior said Nov. 15.

The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico.

Anadarko Petroleum Corp., Noble Energy Inc. and other companies exploring for oil and natural gas in Colorado jumped in pre-market trading Nov. 7 after voters rejected a plan that sought to limit their ability to drill in the state.