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The White House on Thursday said it welcomed a decision by OPEC and its allies to incrementally increase oil output, but added that the United States has no plans to reconsider its decision to release crude reserves. "We appreciate …
Oil prices climbed on Friday, extending gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant dents demand, but prices were still on course for a sixth week of declines. U.S. …
Oil prices rose more than 4% on Wednesday, still struggling to recoup losses of more than 16% in November, as major producers prepared to discuss how much of a threat the new Omicron variant of the coronavirus would pose to energy demand. …
Oil prices rose more than 2% on Wednesday, recouping some of the steep losses from the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant. Brent crude …
Oil prices tumbled nearly 5% on Tuesday after Moderna's chief cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets and adding to worries about oil demand. Brent crude …
Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets, after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant. Both benchmarks tumbled more …
Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the …
Oil prices recorded their steepest daily fall since July on Friday as a new COVID-19 variant spooked investors and added to concerns that a supply surplus could swell in the first quarter. Brent crude fell $4.07, or 4.9%, to $78.15 a …
White House moves to lower prices at the pump and combat rising inflation
U.S. President Joe Biden is preparing to announce the release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, Bloomberg reported on Monday, citing multiple unnamed …
Iran and Azerbaijan, members of the OPEC+ alliance, are looking at finalizing "soon" a number of energy deals, including joint development of an oil field in the Caspian Sea, Iranian oil minister Javad Owji said Nov. 21. "Some …
Oil was on track to post its biggest weekly drop since August as Europe’s worsening Covid-19 crisis. EU countries are considering the prospect of renewed lockdowns just as key consuming nations look to add emergency supply to the …
U.S. oil was under pressure on Thursday, adding to an overnight plunge on a report that the U.S. was asking major oil consumers like China and Japan to consider a coordinated release of oil reserves to lower prices. The bid by the U.S. …
The Russian oil and gas company "Rosneft" expects that by the end of the first half of 2022 the world oil price could reach $120 per barrel. This was announced by Otabek Karimov, Vice President for Commerce and Logistics of the …
Oil prices are pushing lower once again on Friday, after falling just short of their October highs earlier this week
Oil quotations continued to decline today: for example, by 18:03 Moscow time, January Brent futures fell in price on the London ICE Futures exchange by $ 0.63 (0.76%), to $ 82.24 per barrel. December futures for WTI in electronic …
The Organization of the Petroleum Exporting Countries (OPEC) expects oil demand to grow by 4.2 million barrels per day in 2022. This is stated in the November OPEC report. The organization believes that the demand for oil next year may …
The U.S. Energy Information Administration (EIA) raised its forecast for global crude oil prices for 2021 but kept projections unchanged for 2022. In the November Short-Term Energy Outlook (STEO), the EIA revised up its Brent price …
The U.S. authorities do not increase the volume of oil production in the country, since the relevant decisions are made by individual companies, Washington calls on OPEC + to expand supplies, White House principal deputy press secretary Karine …
US Secretary of Energy Jennifer Granholm said in an interview with Bloomberg that Washington is currently contemplating the release of strategic oil reserves in order to lower world energy prices. "Yes, we are definitely …
