Big Oil

Crude oil's wild week

Oil prices are inching upward Friday after a week of steep losses, including the year's biggest one-day decline on Thursday.

Why it matters: The declines signal jitters about economic headwinds, notably the trade dispute between the U.S. and China, slowing demand growth.

The shale boom has become a check on the market's long-term volatility

The array of producers in the U.S. oil patch is pretty much the opposite of a cartel, but a new report distills a key reason why companies' individual decisions have together become such a powerful market force.

Reproduced from Federal Reserve Bank of Dallas; Chart: Axios Visuals