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Tag: Oil
The US is the world’s biggest oil producer — so why do we still need to import crude and ask other countries like Saudi Arabia for help?
The US is the world’s biggest oil producer — so why do we still need to import crude and ask other countries like Saudi Arabia for help? Oil prices are high, energy worries are roiling the global econ...
BRICS In The New World Energy Order: Hedging In Oil Geopolitics
SAINT PETERSBURG, RUSSIA- APRIL 27: Russian President Vladimir Putin addresses a meeting of the … [+] Russian Geographical Society’s Board of Trustees on April 27, 2015 in St. Petersburg, ...
Biden Under Pressure To Restrict Oil Exports For All The Wrong Reasons
WASHINGTON, DC – JULY 16: President Joe Biden takes reporters questions on the south lawn of the … [+] White House on July 16, 2022 in Washington, DC. President Biden just returned from vi...
Don’t Bet On President Biden’s Promises That Oil Prices Will Drop
WASHINGTON, DC – Prices for gas at an Exxon gas station on Capitol Hill in Washington, DC. The cost … [+] of gasoline has dropped recently on fears of a recession. (Photo by Win McNamee/Ge...
Natural Gas Stocks Are Beating Oil Names. Here’s Why.
Text size Unlike oil, natural gas has no cartel to stabilize prices, so they are likely to remain volatile. Joe Raedle/Getty Images) Oil prices have traded lower for most of July, with U.S.-traded cru...
Oil Stocks Rise As These Field Service Giants Prepare To Report Earnings
Oil stocks and prices rose sharply Monday following news that Saudi Arabia did not plan to boost its oil output beyond OPEC+-assigned quotas. Against that backdrop of tight oil and gas supplies, risin...
Winter Is Coming. Energy Solutions Are Not.
Madrid, Spain. January 2022. An unusually cold winter next year like 2022 would be disastrous for … [+] European Unity. LightRocket via Getty Images A grim outlook was presented to European lead...
Indonesia Waives Palm Oil Export Levy to Cut Bloated Stockpiles
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg Indonesia will waive its palm oil export levy until the en...
Oil in Retreat as Traders Weigh Mideast Supply After Biden Trip
(Bloomberg) — Oil slid as investors weighed the odds of more supply from the Middle East after a landmark trip to the region by US President Joe Biden. Most Read from Bloomberg West Texas Interm...
Biden Advisor Says Gulf States Could Ramp Up Oil Production—And Gas Prices May Fall Toward $4 Per Gallon
Topline Persian Gulf oil producers will likely take steps to boost production in the weeks following President Joe Biden’s trip to meet with Middle Eastern leaders, one of the president’s energy advis...
EU Shipowners Race to Move Russian Oil Before Sanctions Kick In
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Hedge Funds Bet on the Brazil Oil Upstarts Boosting Output 122%
(Bloomberg) — Hedge funds and other investors looking to cash in on Brazil’s surging oil and gas output are turning to a new breed of drillers as an alternative to turmoil-wracked Petroleo Brasi...
Saudis Say Oil Decisions Are for OPEC+ as Biden Leaves Kingdom
(Bloomberg) — Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark tri...
What is the price of oil around the world? — Quartz
“The price of oil” is a phrase that will keep flashing frequently in the news over the next few months, as the world struggles with an energy shortage caused by the Russia-Ukraine war. To people in th...
Gasoline Demand Is the Lowest in a Year. Blame Remote Work, Not Pump Prices.
Text size U.S. crude oil inventory levels still remain 5% below the five-year average for this time of year. Brandon Bell/Getty Images It isn’t just high oil prices, but Americans working from home th...
Crude oil prices remain sub $100 as recession fears slow down markets
On July 14, Crude Oil WTI settled below $96 per barrel, while Crude Oil futures hit $91 per barrel hitting the lowest level since February. Escalating fears of low demand and economic slowdown contin...
Can The Saudis Give Biden Long-Term Oil Price Stability?
Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud (Photo by KARIM SAHIB / AFP) (Photo by … [+] KARIM SAHIB/AFP via Getty Images) AFP via Getty Images President Joe Biden is going to S...
These new ETFs are burning the midnight oil to make investors money
Two new ETFs out this summer are working the overnight shift. The NightShares 500 [NSPY] and NightShares 2000 ETFs [NIWM] are doing something no ETF has done before: Take advantage of the so-called &#...
Senators Tangle With Oil Experts In Hearing On Containing Energy Costs
Sen. Angus King, I-ME, during a hearing last year. Getty Images ‘Is your industry really that afraid of Joe Biden?’ Though gasoline prices are down 40 cents a gallon in recent weeks, Americans are sti...
Wells Fargo Says These Eight Energy Stocks Can Weather a Recession
The year 2022 has been kind to oil companies, largely because price surges tied to Russia’s war on Ukraine. The S&P Oil & Gas Exploration & Production Select Industry Index has climb...
Italian Drought Puts One-Third Of National Agriculture Production – Like Tomatoes And Olive Oil – At Risk
Topline A historic drought in Italy could endanger 30% of the country’s agricultural production, agriculture minister Stefano Patuanelli warned lawmakers Wednesday, threatening output of staples like ...
Despite Their Thirst For Oil, China And India Will Never Depend On Russia
China’s President Xi Jinping (L) and his Russian counterpart Vladimir Putin (R) attend the opening … [+] ceremony of “The Year of Chinese Tourism in Russia” in Moscow, on March...
As Biden Prepares Saudi Trip, Its Oil Imports Dwindle To 8% This Year
The value of U.S. oil imports from the world was higher in May of this year than any other month of … [+] May since 2014, according to WorldCity analysis of U.S. Census Bureau data. But the Saud...
Global oil production is already near full capacity — Quartz
With US gasoline prices still above $4.50 per gallon, president Joe Biden is under immense pressure to balance the global oil market. Asking consumers to use less oil is a political dead end. His best...
The Oil Crisis Isn’t Over, IEA Says. Why Prices Are Falling.
Text size Oil prices have remained high since Russia invaded Ukraine in March. Mario Tama/Getty Images Oil prices were slipping on Tuesday, even as the head of the International Energy Agency warned t...
Norwegian oil giant Equinor to buy U.S.-based energy storage firm
Although it is involved in renewable energy projects, Equinor is a major producer of fossil fuels. The Norwegian state has a 67% holding in the company. Hakon Mosvold Larsen | Afp | Getty Images Norwa...