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Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with plans to boost supplies, data from the International Energy Agency showed.

The national average diesel price dropped 5.1 cents to $3.704 per gallon, according to Energy Information Administration data released Aug. 12.  

A Marathon Oil Corp. shareholder sued to block its proposed acquisition by ConocoPhillips, claiming the $17 billion deal “significantly undervalues” the target company.

Some of the top U.S. oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming.

The Biden administration is following the paper trails of some biodiesel producers amid heightened concern the fuels are at times being made with deceptive ingredients, violating federal law.

Before leaving Washington for a six-week summer break, senior Senate Republicans again pushed back on the White House’s electric vehicle agenda.

Diesel’s national average price has decreased for the past four weeks, totaling 11 cents.

Canada’s British Columbia will grant $108,000 to develop a regional hydrogen hub to support business development along its western Highway 16 freight corridor from central Prince George to the Pacific Coast.

OPEC kept oil production broadly steady in July while it cautiously monitors the impact of its latest cutbacks on global markets.

Renewable diesel as a drop-in fuel for diesel combustion engines is starting to gain traction in the U.S. trucking industry, said suppliers, distributors and federal energy researchers.