At its June meeting, the Organization of Petroleum Exporting Countries decided to maintain crude oil production levels. The group is playing a waiting game, hoping low oil prices help it retain market share and undercut unconventional drilling.
Few expected huge news out of Friday's OPEC meeting, Charles Kennedy writes, but the fact that Indonesia wants back in the powerful oil cartel came as a surprise.
Sanctions on Iran have kept its oil out of the marketplace, writes Nick Cunningham, but that could change if the country reaches a nuclear agreement with the West. What's unclear is how OPEC would accommodate the flood of Iranian crude.
Falling oil prices last year spelled trouble for Russia, which gets half its budget from fossil fuel revenues, writes Andy Tully. But the modest revival in prices over the last few month has made economic forecasts more optimistic.
In coal-loving Kentucky, Obama's climate regulations and the cheap price of natural gas are making the fossil fuel an appealing alternative to coal, writes Andy Tully.