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In the near term, as far as the demand for crude oil markets, it’s been a little different. Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of ...
Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring prices.
The Biden administration has bought back 59 million barrels after the 2022 sale at an average price of less than $76 a barrel, far lower than the $95 a barrel it sold oil in 2022.
The world is going to need fossil fuels far longer than President Biden seems to think.
In Biden’s case, many of the dynamics that supercharged oil and gas industry profits during his presidency were not directly related to his administration’s policies: Russia’s invasion of ...
Called the Strategic Petroleum Reserve, or SPR, it is the world's largest emergency oil supply, and dates back to the 1970s, when it was created to ensure the U.S.'s future energy independence ...
Oil futures pared gains on Friday but still notched their biggest weekly increase in more than a year as President Biden aimed to discourage Tel Aviv from targeting Iran’s crude facilities ...
The U.S. has been producing 13.2 million barrels of crude oil per day, according to the Energy Information Administration. That's higher than the record of 13 million set under President Donald ...