Biden Administration Holding Its First Onshore Oil Sales
BILLINGS, Mont. — The U.S. government this week is holding its first onshore oil and gas drilling lease auctions since President Joe Biden took office after a federal court blocked the administration’s attempt to suspend such sales because of climate change worries.
Gulf of Mexico Oil Drilling Makes Too-Little, Too-Late Comeback
A new wave of oil platforms is sweeping into the U.S. Gulf of Mexico as crude prices are riding historic levels and demand for barrels is higher than ever.
Oil Traders Jump Into Action as Europe Screams for Diesel Supply
Traders are snapping up ships to haul millions of barrels of diesel westward from Asia and the Middle East as oil supply chains react to Russia’s invasion of Ukraine.
Oil Jumps Near $123 as Chance of Russian Ban Spurs Crisis Fears
Oil had its biggest daily swing ever, surging to near $140 before pulling back, on the prospect of even tighter supplies after the U.S. said it was considering a ban on Russian crude imports.
Explosion, Fire Rock Marathon’s Huge Louisiana Refinery
Marathon Petroleum Corp.’s oil refinery near New Orleans exploded into flames on Feb. 21, threatening to crimp fuel supplies and raise pump prices at a time of already rampant inflation.
OPEC+ Must Fix Its Million-Barrel Supply Gap, IEA Says
The International Energy Agency urged OPEC and its allies to address a widening shortfall in their oil production as a volatile market sends crude prices rocketing toward $100 a barrel.
February 16, 2022US Sees Record Oil Production Next Year Moving Even Higher
U.S. oil production will grow even more than the government previously expected as a scorching price rally drives producers to boost drilling.
Fuel Flash: 2021 4th Quarter Report: Oil, Diesel, Gas Price Trends
Oil prices have crept back into the $70s, wholesale prices continued to fall, but not much has changed with demand and supply. As we get into 2022 and the winter weather, prices will reach back into the $80s.
February 1, 2022Earthstone to Buy Permian Oil Producer Bighorn for $860 Million
Earthstone Energy Inc. agreed to buy closely held oil and gas producer Bighorn Permian Resources for $860 million.
Oil Hits Seven-Year High as IEA Turns Bullish on Outlook
Oil climbed to the highest mark since October 2014 as the International Energy Agency said the market looked tighter than previously thought, with demand proving resilient to omicron.