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Iraqi workers stand near a pipeline as it ejects oil at Al Tuba oil field in Basra, southeast of Baghdad

Power Line: Sunrun layoffs, a ‘tsunami’ of oil absolutely no one wants, and gas for 87 cents

This week, we showcase winners and losers in the oil price saga and highlight symptoms of the coronavirus pandemic for residential solar.

Oil surges 12% on reports that OPEC and allies are working on a deal to cut production amid the coronavirus pandemic

Oil prices have been roiled as the coronavirus pandemic weighs on demand while the global price war has threatened to significantly boost supply.

Dow climbs 470 points as oil spikes more than 20%, outweighing record US unemployment filings

Oil surged as much as 35% on Thursday, leading a sharp rally in energy stocks that lifted the entire market.

‘Another cataclysmic week’: Stocks climb as signs of relief in oil markets outweigh fears of record US jobless claims

Hopes for stronger crude demand and the end of the Russia-Saudi Arabia price war beat out concerns about another 3 million unemployed Americans.

Oil’s 66% plunge marks its worst quarter ever amid the double whammy of coronavirus and a global price war

Oil prices could fall even further in April as Saudi Arabia and Russia boost production to record levels.
Millions have moved to Texas for its affordability, but will the coronavirus pandemic change all that?

Texas has been the poster boy for good economic news in the US, and its decimation by the coronavirus shows what a rough ride every state has in store...

Millions have flocked to Texas for its affordability and jobs, but the coronavirus pandemic is hurting its economy while oil prices are plummeting.
A worker walks at the Nahr Bin Umar field, north of Basra, southeast of Baghdad, November 16, 2014.

Iraq reportedly plans to join the global oil war with prices already near 18-year lows

The country aims to boost output by 200,000 barrels per day and join Saudi Arabia and Russia in the market-share struggle, Bloomberg reported.
Gas prices are falling across the country in the wake of the novel coronavirus, which has stunted global oil demand.

A gallon of gas for 95 cents? It’s here — and it will soon be even cheaper.

The coronavirus pandemic is cratering demand for fuel, which is driving down the price of gas to 99 cents or less. And the bottom isn't even in sight.

Saudi Aramco needs cash with oil prices at a 17-year low — and now it may reportedly sell a piece of its pipeline unit

Aramco is looking to raise capital ahead of $75 billion in dividend payments through 2020 and a planned $70 billion acquisition, Bloomberg reported.

‘The pain looks far from over’: Stocks whipsaw as oil plunges to 17-year low on coronavirus fears

"Sheer economic shock is about to overwhelm markets ahead; and we will require even greater policy responses."