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Oil markets spiraled on the news, falling as much as 4% on Thursday. A report that Saudi Arabia would ditch its unofficial crude price target sent crude oil prices sharply lower on Thursday.
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.
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 ...
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 ...
On Tuesday oil alliance OPEC maintained its prior forecast for global oil demand to grow by 2.2 million barrels per day in 2024. In March OPEC+ extended output cuts of 2.2 million per day into the ...
Biden hoped more supply would lead to lower prices at the pump, ... and now that crude oil prices have fallen below the government's target price of $79 per barrel, it is likely that further ...
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 ...
Crude oil prices spiked last week amid fears the Israel-Hamas war could broaden to other countries — namely Iran — a key global oil producer.. Despite last week's gains, prices are still ...