Reasons include a stronger supply of oil and weaker-than-expected demand, energy experts say. Some people are saving hundreds of dollars on fuel.
Tag: Production
Why Russia Has Such a Strong Grip on Europe’s Nuclear Power
New energy sources to replace oil and natural gas have been easier to find than kicking the dependency on Rosatom, the state-owned nuclear superstore.
Ukraine Needs Shells, and Arms Makers Want Money. Enter the E.U.
Ukraine is firing artillery shells faster than manufacturers can make them. Brussels is working on a plan to increase production by guaranteeing big advance purchases.
Pentagon Will Increase Artillery Production Sixfold for Ukraine
The Army’s top acquisition official says production of the 155-millimeter shells badly needed by Kyiv will rise to 90,000 a month in two years.
Oil Prices Slide as Investors Worry Energy Demand Is Slowing
The U.S. benchmark oil price fell to about $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.
Saudis Find Sympathetic U.S. Ears at ‘Davos in the Desert’
A Saudi decision to support a cut in oil output infuriated Washington. But at an investment conference in Riyadh, there was plenty of praise for the kingdom.
Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?
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.
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.
An Israel-Lebanon Border Deal Could Increase Natural Gas Supplies
Offshore gas fields in the Mediterranean could become one of several new energy sources for European countries as they seek independence from Russia.
Europe’s Energy Crisis Forces Factories to Go Dark
Manufacturers are furloughing workers and shutting down lines because they can’t pay the gas and electric charges.