Markets are implying a roughly 55% chance that the Fed opts for a steeper 50-basis-point rate cut on Wednesday ... In Europe, some major oil refineries are cutting how much crude they process ...

Shell plans to cut hundreds of jobs on its oil and gas exploration and development team, including a significant percentage of workers in Houston, according to a Reuters report. At $9.7 billion ...

Authorities believe the ship’s anchor, which could not be found on the ship, was used to cut the cables ... harm including oil spills. The Christmas Day cable cutting is just the latest in ...

Big Oil has made returning ... The company is in the process of cutting up to $3 billion in costs and laying off up to 8,000 employees. UK-based BP may be forced to cut share buybacks as well ...