Oil and Gas Prices
News
November 08, 2022
The split in the European Union is deepening over how to contain an energy crisis, with nations supporting a price cap on imported natural gas accusing the bloc’s executive of being too slow to develop a proposal to limit the costs of the fuel.
News
November 06, 2022
One day after a cordial meeting between oil executives and President Joe Biden, the industry was blindsided by his attack on its profit and charges of war profiteering. It was just the kind of whiplash that has repeatedly sown mistrust and tension in the industry.
News
November 04, 2022
Oil closed at the highest level since August as markets rallied over China easing its Covid restrictions, with Brent crude posting its third straight weekly gain.
News
November 04, 2022
The Czech Republic imposed its first windfall tax on some of the biggest businesses to help finance energy subsidies without boosting government borrowing. The 60% "surcharge" will be in place for three years.
News
November 03, 2022
Natural gas use is surging in Spain, offering an insight into the possible unintended consequences of capping fuel prices to shield the country’s households and businesses from the energy crisis.
News
November 02, 2022
President Joe Biden’s threat to slap a tax on oil-company profits is more bluster than threat as the clock runs out on the administration’s efforts to tame fuel prices ahead of midterm elections.
News
October 31, 2022
An excess of supply in the oil market was the main reason for OPEC+ opting to cut production in October, according to the group’s secretary-general.
News
October 27, 2022
House Republicans are launching an investigation into what they say could be the “potential misuse” by the Biden administration of the nation’s emergency oil reserves to lower gasoline prices, as well as White House deliberations over a fuel-export ban.
News
October 19, 2022
OPEC+’s decision to cut oil production will hurt the global economy and add to inflationary pressures, a senior U.S. official said during a visit to the Middle East.
News
October 18, 2022
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further, according to people familiar with the matter.
News
October 13, 2022
Saudi Arabia rejected criticism of last week’s OPEC+ decision to cut oil production quotas, saying the move was based solely on “its noble objectives” to avoid oil-market volatility and denying the kingdom was taking a stance against the U.S.
News
October 11, 2022
Decisions of the Organization of Petroleum Exporting Countries and its allies are designed to stabilize global energy markets and are not targeted against anyone, Russian President Vladimir Putin insisted.
News
October 10, 2022
The U.S. has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation. The world’s largest oil exporter insists the decision was about economics, not politics.
News
October 06, 2022
The secretary-general of APPO, the African Petroleum Producers Organization, has come out in support of the recent decision by OPEC to cut production by around 2% on the side-lines of Africa Oil Week in Cape Town.
News
October 06, 2022
U.S. President Joe Biden said he’s disappointed by the surprise OPEC+ decision to slash oil production but that he doesn’t regret a trip to Saudi Arabia just three months ago in which he urged its leaders to keep crude flowing.
News
October 05, 2022
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020, but will have a smaller impact on global supply than the headline number suggests. Several member countries are already pumping well below their quotas.
News
October 03, 2022
OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.
News
September 30, 2022
Skyrocketing oil prices have helped make oil and gas producers the best performers in the stock market this year, triggering a rapid rise in dividend payments and a bonanza of special dividends.
News
September 28, 2022
Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas.
News
September 27, 2022
While U.S. gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who repeated demands for oil companies to charge less.
Article
September 2022
The invasion of Ukraine is transforming the world outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing of future bans on Russian commodity imports are difficult to predict, a major restructuring of energy trade routes is underway.
