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U.S. President Biden has three key strategies in place to lower oil prices.
The first and foremost strategy is the implementation of the NOPEC bill.
The second pillar of the plan is to release more crude from the U.S. SPR.
The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
The first and foremost strategy is the implementation of the NOPEC bill.
The second pillar of the plan is to release more crude from the U.S. SPR.
The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
2022/10/28 16:34
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 9.9 million barrels for the week to October 7, but the move lower didn't last long.
2022/10/17 10:00
U.S. refiners have been bracing themselves for the possibility that President Biden will impose some sort of fuel exports ban or restriction ahead of the mid-terms.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
2022/10/17 09:55
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
2022/10/07 13:38
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
2022/09/30 18:34
The U.S. Federal Reserve hiked interest rates by 75 basis points on Wednesday.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
2022/09/22 19:03
Oil prices dropped on Thursday morning.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
2022/09/16 13:58
OPEC is meeting on September 5 to discuss the state of the oil market.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
2022/09/05 16:12
G7 finance ministers are set to finalize a plan on a potential price cap on Russian oil.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
2022/09/03 11:34
U.S. President Biden has three key strategies in place to lower oil prices.
The first and foremost strategy is the implementation of the NOPEC bill.
The second pillar of the plan is to release more crude from the U.S. SPR.
The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
The first and foremost strategy is the implementation of the NOPEC bill.
The second pillar of the plan is to release more crude from the U.S. SPR.
The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 9.9 million barrels for the week to October 7, but the move lower didn't last long.
U.S. refiners have been bracing themselves for the possibility that President Biden will impose some sort of fuel exports ban or restriction ahead of the mid-terms.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
The U.S. Federal Reserve hiked interest rates by 75 basis points on Wednesday.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
Oil prices dropped on Thursday morning.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
OPEC is meeting on September 5 to discuss the state of the oil market.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
G7 finance ministers are set to finalize a plan on a potential price cap on Russian oil.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.