The Biden administration purchased 2.8 million barrels to partially refill the strategic petroleum reserve (SPR) at prices significantly higher than prevailing prices when former President Donald Trump proposed to top …
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Hurricane Lee is slowing down a bit but is nevertheless a very powerful hurricane as it aims itself at the U.S. East Coast. The category 5 storm weakened over the …
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MEXICO CITY (Reuters) – Mexican oil company Pemex estimates that a deadly fire on a major offshore platform off the southern edge of the Gulf of Mexico has led to …
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By Chen Aizhu and Jeslyn Lerh SINGAPORE (Reuters) – China’s independent refineries are ramping up imports of discounted fuel oil blended from Russian barrels to use as low-cost feedstock amid …
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By Arathy Somasekhar (Reuters) – U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum …
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KUWAIT (Reuters) – Libya is producing about 1.2 million barrels per day of oil, oil minister Mohamed Oun told reporters on the sidelines of an OAPEC meeting on Monday. “We …
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By Arathy Somasekhar HOUSTON – U.S. refiners imported about 1.3 million barrels per day (bpd) of crude and fuel oil from Latin America in April, the highest in seven months …
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LONDON – BP does not expect any let off in oil prices in the near term as the volume of Russian oil impacted by Western sanctions was expectd to double, …
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(Reuters) – The International Energy Agency (IEA) will release 120 million barrels of oil to ease prices, half of which would come from the United States, while other IEA members …
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By Seher Dareen (Reuters) – A rally in oil is set to continue with prices staying well above $100 this year as a parched market struggles to wean itself off …
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LONDON – Ministers from member countries of the International Energy Agency (IEA) are discussing the release of 60 million barrels of oil from storage in a meeting on how to …
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The Department of Energy (DOE) announced Tuesday the release of millions of barrels of oil from the Strategic Petroleum Reserve (SPR) to combat soaring gas prices. The DOE approved the release …
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WASHINGTON -The United States will release 50 million barrels of crude from the U.S. Strategic Petroleum Reserve to help cool oil prices, that will start hitting the market in mid- …
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– Shale producer Chesapeake Energy Corp on Wednesday said it was increasing its 2021 total oil production forecast to between 24.5 million and 26.5 million barrels, an increase of 1 …