Biden Revokes Oil Drilling Permits for Additional Review
The Biden administration is revoking dozens of invalid drilling permits issued by agency workers without the approval of political appointees, despite a temporary order for such reviews.
Biden to Pause Oil Drilling on Public Lands
WASHINGTON — President Joe Biden is set to announce a wide-ranging moratorium on new oil and gas leasing on U.S. lands, as his administration moves quickly to reverse Trump administration policies on energy and the environment and address climate change.
January 26, 2021Oil Jumps to Highest Mark Since February Amid Stimulus Optimism
Oil surged to the highest mark in nearly 10 months in New York alongside a broader market rally as breakthroughs on U.S. stimulus talks combined with the COVID-19 vaccine rollout stoked optimism around a demand revival.
‘External Source’ Causes Oil Tanker Blast Off Saudi Arabia
DUBAI, United Arab Emirates — An oil tanker off Saudi Arabia’s port city of Jiddah suffered an explosion early Dec. 14 after being hit by “an external source,” a shipping company said.
Oil Ekes Out Weekly Gain After Retreating From Nine-Month High
Oil just managed a weekly gain as an impasse in Washington over pandemic relief dimmed chances of an imminent boost to demand.
Oil Slips From Nine-Month High With Markets in Risk-Off Mode
Oil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets.
OPEC President Says Saudis, Russia Push to Delay Supply Hike
Algeria, which this year holds the OPEC presidency, said that both Saudi Arabia and Russia were pressing fellow members to prolong the current oil-supply cuts into next year, rather than tapering them as planned. Algeria supported the proposal, the first country to publicly do so.
Oil Jumps as Lebanon Explosion Signals Geopolitical Instability
Oil extended its rally and hit a two-week high after an explosion at Lebanon’s main port rocked the capital Beirut, pointing to geopolitical instability in the region.
Oil Rises With Signs of Economic Recovery Buoying Demand
Oil rose the most in nearly two weeks as economic data from the U.S. to Europe and Asia signaled a flicker of life in languishing demand.
Oil Rallies With Strong Jobs Data Adding to OPEC+ Cut Optimism
Oil headed for a sixth weekly gain after OPEC+ reached a tentative agreement to prolong its record production cuts and U.S. jobs data was better than expected.