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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.
On Biden's way out of the White House, he has been imposing tighter environmental restrictions, including just this week, when Biden approved a new tax on methane emissions and implemented tighter ...
That’s largely why the U.S. imports 6.5 million barrels a day of mostly heavy crude, Thummel said, even though the country seemingly makes enough oil to meet its needs.
Additionally, the Biden administration has taken steps to try to nudge the auto industry away from using gas-powered cars, like rolling out new tailpipe emissions standards and revamping electric ...
Oil futures dropped as much as 2% on Wednesday before paring losses as traders weighed what Donald Trump's presidential victory could mean for energy prices.
U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher ...
Within 45 minutes of Biden’s remark, crude oil futures spiked to about $74 per barrel from an opening price of $70.10, before settling back to around $73. When a reporter asked Biden if he would ...
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 ...