No OPEC+ Oil Shakeup as Russian Price Cap Stirs Uncertainty
It is not yet clear how much Russian oil the two sanctions measures could take off the global market, which would tighten supply and drive up prices. read more >
by Associated Press -
Venezuela’s Government, Opponents Resume Talks; US Eases Oil Sanctions
Under the new policy, profits from the sale of energy would be directed to paying down debt owed to Chevron. read more >
by Associated Press -
Biden Tightens Methane Emissions Rule Amid Push for More Oil
The new methane rule will help ensure that the United States meets a goal set by more than 100 nations to cut methane emissions by 30% by 2030 from 2020 levels, Biden said. read more >
by Associated Press -
Biden Paints Oil Firms as War Profiteers, Talks Windfall Tax
Congress would have to approve any additional taxes on the energy producers — which would be a tall order in the current Congress where Democrats have narrow control of the House and Senate. read more >
by Associated Press -
Oil Giants Rake in Record Profits Amid High Energy Prices
Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income. read more >
by Associated Press -
Facing Tough Midterms, Biden Releasing Oil From US Reserve
He rejected the notion that politics played a role in his latest action. read more >
by Associated Press -
OPEC+ Makes Big Oil Cut to Boost Prices
Energy ministers cut production by a larger-than-expected 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of the COVID-19 pandemic. read more >
by Associated Press -
Allies Aim for Risky Russian Oil Price Cap as Winter Nears
Pushed by Treasury Secretary Janet Yellen, the price cap plan is testing the bounds of statecraft and capitalism. read more >
by Associated Press -
US Takes Aim at Some Trump Offshore Safety Rule Rollbacks
"This proposed rulemaking will help ensure that offshore energy development utilizes the latest science and technology to keep people safe," Interior Secretary Deb Haaland said. read more >
by Associated Press -
OPEC+ Makes Small Trim to World Oil Supplies as Prices Fall
The decision for October rolls back a mostly symbolic increase of 100,000 barrels per day in September. read more >
by Associated Press -
Arkansas Gets $5M for High-Priority Cleanup of Wells
The money is part of a larger federal initiative to deal with thousands of abandoned oil and gas wells across the nation. read more >
by Associated Press -
Climate Bill’s Unlikely Beneficiary: US Oil and Gas Industry
While the Inflation Reduction Act concentrates on clean energy incentives that could drastically reduce overall U.S. emissions, it also buoys oil and gas interests by mandating leasing of vast areas of public lands and off the nation's coasts. read more >
by Associated Press -
US Gas Prices Dip Just Below $4 for the First Time in 5 Months
AAA said the national average for a gallon of regular was $3.99 on Thursday. read more >
OPEC+ Boosts Oil Output, but at Slower Pace Than Previous Months
The move comes after President Joe Biden visited Saudi Arabia last month, aiming to improve relations and encourage more oil production from the cartel to draw down high prices at the pump. read more >
by Associated Press -
Sky-High Diesel Prices Squeeze Truckers, Farmers, Consumers
High gasoline prices have eased somewhat in recent weeks. But diesel has remained chronically high, with American refineries operating near capacity. read more >
by Associated Press -
Biden Vows ‘Strong’ Climate Action Despite Dual Setbacks
Biden did not specify what actions he will take on climate, but said they will create jobs, improve energy security, bolster domestic manufacturing and protect consumers from oil and gas price increases. "I will not back down,'' he promised. read more >
by Associated Press -
Biden Offshore Drilling Proposal Would Allow up to 11 Sales
The proposal brought immediate backlash from both environmentalists — who accused Biden of betraying the climate cause — and oil industry officials and allies, who said it would do little to help counter high energy prices. read more >
by Associated Press -
OPEC+ Oil Boost Probably Not Much Help on Gas Prices
The increase of 648,000 barrels per day in August still leaves the world thirsty for oil as it rebounds from the COVID-19 pandemic and runs up against the inability of the 23-member OPEC+ alliance to meet its production quotas. read more >
by Associated Press -
Biden Says Decision on Gas Tax Holiday May Come This Week
The move could save U.S. consumers as much as 18.4 cents a gallon. read more >
by Associated Press -
Biden Tells Oil Refiners: Produce More Gas, Fewer Profits
"The crunch that families are facing deserves immediate action," the president told seven companies. read more >
by Associated Press -
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