--- description: Breaking news and analysis from time.com. Politics, world news, photos, video, tech reviews, health, science, and entertainment news. title: TIME | Current & Breaking News | National & World Updates image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- ## Update your preferences in [Account Settings](/account/preferences/) Close ## Update your preferences in [Account Settings](/account/preferences/) Close *  Sep 30, 2016 ### [Tesla's Model 3 Could Significantly Lower Gasoline Demand](https://time.com/4515178/tesla-model-3-gasoline-demand-lowered/) By 300,000 barrels per day [WORLD](/section/world/) *  Aug 9, 2016 ### [The Future Problems For Oil Stripper Wells](https://time.com/4445077/oil-stripper-wells-problems/) They're facing problems from federal gas and oil regulations [WORLD](/section/world/) *  May 16, 2016 ### [Is Fracking Causing Earthquakes in Oklahoma?](https://time.com/4337711/is-fracking-causing-earthquakes-in-oklahoma/) [WORLD](/section/world/) *  May 4, 2016 ### [Why Oil Prices Will Likely Drop Below $40 Soon](https://time.com/4317648/why-oil-prices-will-drop-below-40-dollars/) Speculation can boost prices only to a certain extent in the short-term [WORLD](/section/world/) *  May 2, 2016 ### [Here's Why China is Dictating Oil Supply](https://time.com/4314376/china-dictating-oil-supply/) It has been busy stockpiling its oil reserves since the collapse of prices to $20 [WORLD](/section/world/) *  Apr 29, 2016 ### [Why Canada’s Oil Industry May Never Be the Same](https://time.com/4312542/canada-oil-industry-changing/) The recovery of Canada's oil industry will be unlike any before [WORLD](/section/world/) *  Apr 28, 2016 ### [Nigeria Loses $1.5 Billion Each Month in Oil Theft by Pirates](https://time.com/4311124/nigeria-oil-theft-pirates/) Nigeria is losing 400,000 barrels of crude daily to pirates in the Gulf of Guinea [WORLD](/section/world/) *  Apr 27, 2016 ### [Has the Oil Price Rally Gone Too Far?](https://time.com/4309398/oil-price-rally-gone-too-far/) U.S. gasoline demand is at a record high for this time of year, but oil production is falling [WORLD](/section/world/) *  Apr 26, 2016 ### [China's Growing Oil Reserves at Highest Rate in Years](https://time.com/4307751/china-stockpiling-oil-highest-rate/) Soft demand for oil in China over the past year or so has led to a protracted recovery of prices [WORLD](/section/world/) *  Apr 26, 2016 ### [ISIS Isn't the Only Thing Destabilizing Iraq](https://time.com/4307827/iraq-oil-destabilizing/) Last year, Iraq was the fastest growing oil supplier in OPEC [WORLD](/section/world/) *  Apr 26, 2016 ### [Saudi Aramco IPO Is a Distraction From Real Oil Issues](https://time.com/4307655/saudi-arabia-aramco-ipo/) The IPO is being talked about as a way for Saudi Arabia to raise funds in a time of continued low oi... [WORLD](/section/world/) *  Apr 25, 2016 ### [Oil and Refugees Might Force European Intervention in Libya](https://time.com/4306627/oil-europe-libya/) Oil is a large motivator for European intervention [WORLD](/section/world/) *  Apr 25, 2016 ### [The Real Reason Behind Saudi Arabia's Planning at the Doha Meeting](https://time.com/4306598/saudi-arabia-doha/) Saudi Arabia knew that Iran would not participate in the meeting [WORLD](/section/world/) *  Apr 22, 2016 ### [Why Bankrupt Oil Companies Are Still Pumping](https://time.com/4304824/bankrupt-oil-companies-pumping/) Analysts argue that as more firms go bankrupt the oil markets will rebalance themselves [WORLD](/section/world/) *  Apr 21, 2016 ### [Iran Wants Repayment After Sanctions Lift](https://time.com/4303473/iran-sanctions-repay/) The country is attempting to re-stake its claim to oil-based power [WORLD](/section/world/) Meta: null ```json [{"@context":"https://schema.org","@type":"Organization","@id":"https://time.com/","name":"TIME","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://time.com/","name":"Home"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/author/oilprice-com/","name":""}}]},{"@context":"https://schema.org","@type":"Person","@id":"https://time.com/author/oilprice-com/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/author/oilprice-com/"},"name":"","jobTitle":null,"description":"","url":"https://time.com/author/oilprice-com/","sameAs":["https://x.com/oilandenergy"],"worksFor":{"@type":"Organization","name":"TIME","url":"https://time.com/"}}] ```