oil

Against the backdrop of several fiery derailments, safety advocates are questioning whether new federal rules meant to prevent incidents go far enough. Opponents say the new rules are too costly.

Less than 20 percent of oil-sector workers are female. That's a problem for an industry that needs legions of new workers to replace retirees. So firms are looking to draw more women into the field.

Oil hit a new high for the year — closing at just under $61 a barrel. But some analysts say the global economic slowdown and the rise of alternative energy will mean less demand and lower prices.

Safety advocates say the regulations — which require a sturdier tank car design and a new brake system, among other changes — don't do enough to protect people who live near railways from derailments.

If a final agreement is reached, crippling sanctions on Iran's oil industry could be lifted. But the oil sector faces a number of challenges before ramping up production.

For a decade, Venezuela sold oil at subsidized payment rates to 13 neighbors, including Cuba. But tumbling oil prices have hit Venezuela's economy hard, forcing it to trim those subsidies.

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.

Mexico has opened up its oil and gas fields to foreign investors. But they're slow to enter, as low oil prices, drug violence and other challenges trump the lure of a vast and undeveloped shale bed.