DALLAS — OPEC’s decision to cut production gave an immediate boost to oil prices, but the impact on consumers and the U.S. economy is likely to be more modest and gradual. The cartel agreed Wednesday to cut output by 1.2 million barrels a day, reversing a strategy that produced lower oil prices and pain for […]

OPEC Crude Oil Basket Reference Price | FindTheData Good times at the gas pump equates to bad times in the economy? Usually people equate high gas and oil prices to recessions and difficult economic times. While correlations exist between the cost of oil and certain elements of the economy, the situation is far more complex […]

The price of oil slipped after the U.S. government said crude stockpiles grew by 4.2 million barrels last week. A private report released Wednesday had showed an even larger increase. U.S. benchmark crude fell 78 cents, or 1.8 percent, to $42.15 a barrel in New York. Brent crude, which is used to price international oils, […]

PORTLAND — A Maine government survey says the average statewide cash price for heating oil dropped 7 cents in the past week. The Governor’s Energy Office says the average price according to the Nov. 24 survey was $2.86. The average kerosene price of $3.46 was also 7 cents lower than last week. Propane prices declined […]

PORTLAND — The price of heating fuel is dropping alongside the mercury in thermometers in New England, providing a reprieve to the part of the country that is the most dependent on home heating oil. The average statewide cash price for heating oil in Maine has dropped to its lowest level since 2008, when global financial […]