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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 ...
That said, Biden sold off the most barrels at one time since the SPR's creation, according to the St. Louis Federal Reserve. As a result, the U.S. currently has enough oil in the reserves to fuel ...
In his first week in office, Biden canceled the Keystone XL pipeline and placed a ban on new federal oil and gas leasing, which remained in place until April 2022. While record gas prices in 2021 ...
Crude was recently under $70 a barrel, well below the nearly $80 average it captured during the second quarter. Now the company's earnings and cash flow are likely to decline in the second half 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.
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.
The world is going to need fossil fuels far longer than President Biden seems to think.