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Apr 03 2023
President Joe Biden traveled to the Cummins alternative power manufacturing center in Fridley, Minnesota, on Monday, the latest stop on the soft rollout of the president's 2024 reelection campaign. In particular, Biden took credit for investing in new, clean energy projects and "bringing the supply chain back to America" through the passage of the Inflation Reduction Act and the CHIPS andWashington Examiner
Jun 05 2023
The government of Saudi Arabia announced Sunday that it will voluntarily cut oil production by about 1 million barrels a day, likely sending gas prices higher this summer in the U.S.
The Gulf kingdom, the largest oil producer in the Organization of Petroleum Exporting Countries, confirmed that it will cut production from 10 million to 9 million barrels despite OPEC at large announcingThe Hill
Apr 03 2023
TALLAHASSEE - Florida gas prices rose 10 cents last week and additional price hikes are likely to come, after Saudi Arabia unexpectedly announced plans to cut oil production, causing oil prices to rise overnight. On Monday, the average price in the state for a gallon of regular was $3.47. That's almost 25 cents more than what it was a month ago, but substantially less than the $4.17 it was aCBS News (Online)
Oct 20 2022
U.S.-Saudi relations seem to be in a race to the bottom. Both countries are now directly involved in each other’s domestic politics, which has not been the case in most of the 80-year bilateral relationship.
On Oct. 5, OPEC announced it would cut group oil production by two million barrels per day. The announcement was led by Saudi Arabia, but included informal OPEC+ members at theKaren E. Young
May 08 2023
The recent slide in oil prices is starting to bottom out, according to analysts who predict that a more significant pickup in the coming quarters is in the cards.
Oil prices saw their third consecutive weekly decline last week, marking the longest losing run this year. However, that may soon come to pass, according to some market watchers.
“Now it definitely feels like they’re atCNBC
Apr 12 2023
Oil CEO calls Biden out for missing ‘golden window’ to replenish the US petroleum reserve: 'Really bad'
As the price of crude oil and gas prices slowly tick up, one industry CEO claims he sees "storm clouds on the horizon."
"We've got a good economy, we've got a high oil price, and yet we're seeing production lower than it was during the Trump administration, lower than it was pre-COVID," Canary CEO Dan Eberhart said on "Mornings with Maria" Tuesday.
"The train has left theFox Business
Mar 03 2022
U.S. wants action from suppliers to tame oil prices
OPEC heavyweight Saudi Arabia has spare oil capacity
OPEC+ not budging on output plans despite Ukraine crisisReuters
Oct 11 2022
President Joe Biden feels that the US’ relationship with Saudi Arabia needs to be re-evaluated in the wake of the OPEC+ decision last week to decrease oil production, a National Security Council spokesman said.
In an interview with CNN’s Brianna Keilar on “New Day,” National Security Council coordinator for strategic communications John Kirby said Biden is “willing to work with CongressCNN (Online News)
Oct 05 2022
The OPEC+ alliance announced a 2 million barrels a day cut in oil production Wednesday — an amount that could drive oil and gas prices back up after weeks on a downward trend.
The meeting of the 24 OPEC+ oil-producing countries, including Russia, comes at a time when much of the world is already battling soaring energy costs. A supply cut will also exacerbate tensions between SaudiNPR (Online News)
Oct 12 2022
President Joe Biden warned Tuesday that Saudi Arabia would face "consequences" after OPEC+ last week announced the biggest cut in oil production since the start of the coronavirus pandemic.
Senior Democrats on Capitol Hill have condemned the decision by Saudi Arabia, the de facto leader of the oil-producing alliance, to reduce the global supply of petroleum. Higher oil prices are seenNBC News (Online)