The move comes after President Biden on Tuesday morning ordered a record-setting 50 million barrels of oil released from the nation's Strategic Petroleum Reserve in hopes of lowering gas prices, a decision made in coordination with other countries including India, the United Kingdom and China. Sa...
Follow today's crude oil price moves and key news stories driving oil price actions, as well as developments in the broader energy sector.
As crude oil production surges off the coast of Guyana, its eastern neighbor, Suriname, has set off on its own mission to become a global oil supplier. With some onshore production active for decades, the tiny South American nation now has its sights set on developing its vast offshore res...
Follow today's crude oil price moves and key news stories driving oil price actions, as well as developments in the broader energy sector.
Crude oil news analysis, industry related blogs and videos by Aresco LP. Aresco is a privately held oil and gas exploration and development company.
Ceasefire Deal Between Israel, Hezbollah Takes Effect Wednesday: Biden Nov. 26, 2024 at 4:14 p.m. ETon Benzinga.com Amid Trump's 'Drill Baby, Drill' Pledge, Strategist Predicts US Oil Supply Will See 'Marginal' Increase: 'Does The World Need That Much Oil?' ...
Russian Oil Output May Dip Further on Sanctions. But For How Long? Feb 14, 2025 at 12:24 | Irina Slav In January this year, the outgoing Biden administration slapped its last round of sanctions on Russia. They targeted specifically the shipping industry and the oil industry—and helped oil...
2. OPEC Retains Production Levels OPEC, the cartel ofoil producersthat sets production levels, was unwilling to prop up the oil markets by cutting its production levels. The oil ministers said in a statement that they had "concurred that stable oil prices – at a level which did not affect...
In terms of the oil and gas sector, the EIA sees more prolonged growth after the initially pandemic recovery. However, Jim Turnure, EIA senior adviser for energy analysis, noted that the report does not account for any policy changes under the Biden administration, including potential bans on ...
Without oil zone penetration by force, we would have very little oil production. Gone are the days when oil wells were under so much gas pressure that just entering the formation brought up oil. Ev Last Mar 9, 2022 at 11:04 am