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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 ...
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.
As it stands, the reserve is a "nice insurance policy," Gross says, and now that crude oil prices have fallen below the government's target price of $79 per barrel, it is likely that further ...
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.
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.
As part of a range of actions this week on gas prices, the Biden administration has summoned the heads of seven top oil refining companies to Washington after a week of tense back-and-forth with ...
The world is going to need fossil fuels far longer than President Biden seems to think.