oil prices

While lower oil and natural gas prices are great for the wallet, they've led to layoffs. NPR visits Pennsylvania's Marcellus Shale region, which is still seeing growth in high-paying natural gas jobs.

The price of oil has plummeted as a glut of crude sits idle in tankers and in storage. And more oil could be on the way if a nuclear deal removes the caps on Iranian oil exports.

Low oil prices have led to a drop in drilling, but not as much as you might expect. In some parts of the state's Bakken oil patch, production continues at a feverish pace.

Oil production appears to be churning right along in Sidney. But leaders are bracing for a whole lot less oil tax revenue to pay for services that are stretched thin.

Cheaper gasoline has benefited millions of motorists around the U.S. But in Houston the downturn in prices has brought layoffs and could hurt other sectors, including finance and real estate.

Oklahoma oil is expensive to produce, so the sharp drop in prices has forced many drilling companies to cut jobs. If prices stay low, the pain could spread to the banks that finance the oil industry.

Oil companies are laying off thousands of workers, and firms that provide services to support the industry — from drilling to seismic surveys — have been told they must slash costs to keep working.

The big drop in oil prices is a gift to consumers that should propel the U.S. economy, analysts say. But those lower prices are hurting the energy sector, and consumers continue to be cautious.

Oil's price slump is hitting some companies hard. But longtime producers, like Texas oilman Tracy Perryman, have been through downturns before — and have learned how to survive lean times.

The plunge in gasoline prices is expected to save the average household about $750 this year. For rural families and others who drive a lot, the savings will likely be even greater.