The president has previously drawn down the Strategic Petroleum Reserve to ease price pressures, but that could be more difficult now
Tag: Strategic Petroleum Reserve (US)
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.
Biden Expands Effort to Lower Gas Prices and Secure Energy Independence
Depleting emergency oil reserves spurs criticism that the White House is trying to lower gas prices with midterm election politics in mind.
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.
OPEC Plus Maintains Oil Production Plans
The oil cartel and Russia met less than a week after crude prices plunged amid worries over the Omicron variant.
OPEC Plus Maintains Oil Production Plans
The oil cartel and Russia met less than a week after crude prices plunged amid worries over the Omicron variant.
Biden to Tap Into U.S. Oil Reserves to Combat Rising Gas Prices
In an attempt to reduce energy prices, the U.S. will release 50 million barrels of crude. Five other nations also will dip into stockpiles.
‘I’m Just Living a Nightmare’: Oil Industry Braces for Devastation
Across the United States, companies are laying off workers, shutting down wells and preparing for a prolonged slump as oil prices tumble.