Bloomberg A historic crash in crude prices is driving US shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% for the world’s biggest producer of oil. For shale companies, the price of West Texas Intermediate crude went from hunker-down-and-ride-it-out mode to crisis mode in just a few days, …

Bloomberg Chevron Corp will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as US President Donald Trump maneuvers for regime change in the Latin American nation. The US Treasury Department will no longer allow the company to drill wells, sell and buy crude oil or oil products or transport …

Bloomberg The troubles facing Singaporean oil trading firm Hin Leong deepened as the city-state’s police have started investigating the company. The probe, which the Singapore Police Force confirmed by email, is the latest twist in the downfall of the company, which owes $3.85 billion to more than 20 banks and revealed in court filings that it hid about $800 million …