The announcement by the Saudi-led OPEC Plus energy cartel that it would slash oil production was widely seen in Washington as a stab in the back of President Biden.
Tag: Oil (Petroleum) and Gasoline
New E.U. Sanctions Against Russia Lay Out a Cap on Oil Prices
The measures come in response to Moscow’s recent escalation of the war, and a day after global oil producers decided to cut Russia’s crude supply, increasing its value on the world market.
Biden Administration Pushes Oil Producers to Keep Production High
U.S. officials have been in talks with oil-producing countries in an effort to prevent global oil prices from rising sharply.
E.U. Negotiators Strike Deal on Russian Oil Price Cap
The cap, championed by the United States, would deprive the Kremlin of tens of billions of dollars annually. Experts warn that implementation will be difficult.
Small Leak Is Still Visible From Nord Stream 2 pipeline, Swedish Officials Say
Damage to the gas line was discovered last week under the Baltic Sea.
Biden Calls on World to Punish Russia for Attempt to Annex Ukrainian Land
The U.S. imposed new sanctions on Russian officials and companies, and penalized foreign businesses aiding the Russian military. But officials are holding back on energy sanctions.
US Penalizes Chinese Companies for Aiding Iran’s Oil Exports
The move suggests a more aggressive approach by the Biden administration after talks to revive a 2015 nuclear deal faltered.
Gas Flares Might Release More Methane Than Thought, Study Finds
Flaring, meant to burn off the planet-warming gas at industrial sites, doesn’t always work as intended, according to researchers.
CIA Warned Europe of Potential Attacks on Nord Stream Pipelines
The warning was not specific, the officials said, and they declined to say whether Russia was identified as a possible attacker.
Nord Stream Pipeline Breaks Look Deliberate, Europeans Say
The leaks in the Nord Stream under the Baltic Sea heightened fears of shortages because of the clash with Russia, and showed how vital infrastructure could be at risk.