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Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the 1997 Asian economic crisis, International Energy Agency data show.

U.S. oil output will peak at a 43-year high in 2015 as producers work through a backlog of uncompleted wells before trailing off in the second half of the year.

The price of oil fell in New York on May 27 on ample U.S. crude stockpiles as output surged to a record.

Iraq is taking OPEC's strategy to defend its share of the global oil market to a new level.

The U.S. Department of Transportation and Transport Canada released a “harmonized” final tank car safety rule that is meant to avert all rail accidents involving crude by rail and other volatile hazardous materials.

Trains carrying crude oil will be restricted to a 40 mph speed limit in populated areas such as New York under an order by the U.S. Department of Transportation in response to a series of derailments.

The United States keeps pumping oil at a near-record pace in spite of the collapse in prices over the past year and cutbacks in drilling.

The National Transportation Safety Board on April 6 urged hazardous material regulators to step up requirements for replacing or retrofitting tank railcars that carry flammable liquids such as crude oil and ethanol with better thermal protection.

The three agencies that oversee truck, railroad and pipeline safety are asking to hire more inspectors to address concerns generated by the nation’s energy boom.

The slowdown that North American railroad companies had been bracing for in crude oil shipments has turned into a rout, with volumes falling faster than executives had predicted.