Oil
Biden estimates that oil reserves are sufficient
US President Joe Biden said in a memo to the US State Department on Friday that there are enough oil reserves for other countries to reduce their purchases in Iran.
No prospect of reducing fuel costs
US Secretary of Energy Jennifer Granholm hinted on Friday that the Biden administration has little chance of getting the country's oil producers to increase production in order to reduce rising fuel costs.
Increase in IEA demand forecast causes oil prices to rise
Oil prices rose Thursday after major oil producer Saudi Arabia rejected calls for additional OPEC + supplies and the International Energy Agency said rising natural gas prices could boost demand for oil from power producers.
Crude oil prices hit seven-year high
Crude oil prices hit the $ 80 a barrel mark in the US for the first time since 2014 on Friday, a day after the Department of Energy downplayed reports that it was considering selling barrels from the US strategic oil reserve.
Large oil spill washes up in California, killing wildlife
A large oil spill off the southern California coast has resulted in dead fish, oil-smeared birds and contaminated wetlands in what has been dubbed an environmental disaster by local authorities.
OPEC meets to increase production in the face of rising oil prices
OPEC and its allies meet on Monday to discuss how much oil to release in the hot market, where supply disruptions and recovering demand as a result of the coronavirus pandemic have pushed oil prices above $ 80 a barrel.
OPEC + adheres to plan to gradually increase oil production, price continues to rise
OPEC + said Monday that it would stick to an existing agreement to gradually increase oil production, propelling crude oil prices to three-year highs and adding inflationary pressures that consumer countries fear will ruin economic recovery from the pandemic …
Iran and Venezuela sign oil export agreements
Venezuela has agreed to a major deal to swap its heavy fuel oil for Iranian condensate, which it can use to improve the quality of its tar-like crude. The first loads should arrive this week, according to five people who are familiar with the business.
Oil at one-week high as US supply concerns dominate
Oil prices rose more than 1% on Monday, supported by concerns about production stoppages in the United States due to the damage from Hurricane Ida, with analysts expecting prices to remain within a range in a stable market for the coming months will move. …
Oil stable as the delta variant weighs on recovery in demand
Oil prices remained stable on Thursday as the delta variant of the coronavirus continues to weigh on demand prospects, offsetting a decline in U.S. production in the Gulf of Mexico due to the damage caused by Hurricane Ida. Brent crude rose 4 cents 0901 GMT to …