NEWS OF THE WEEK
U.S. RISES TO TOP
The U.S. likely surpassed Russia this summer to become the world's top oil producer, the Energy Department said.
AN OIL PRICE WARNING
The International Energy Agency warned that oil prices could break above $80 a barrel unless other producers act to offset deepening supply losses in Iran and Venezuela.
LOCKING IN PRICES
Oil companies dramatically increased their hedges on Permian Basin oil prices beyond 2019 to lock in prices in case new pipeline projects fail to come online in time, according Wood Mackenzie.