WASHINGTON (Reuters) -The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep […]
While it took the Biden administration the better part of six months to drain the US oil supply down to a precarious 20-days of emergency reserves (a 40-year low), it will take decades to refill […]
Oil prices are down this morning after the ‘good news is bad news’ data from the US offsetts additional production-cut announcements this week from OPEC-plus members Saudi Arabia and Russia. Crude remains about 10% lower […]
Apollo CEO Marc Rowan qualified the current economic climate by saying we may experience a “non-recession” recession. This was one of the more interesting recent descriptions of the rolling fight against inflation and the impact […]
Oil pries are tumbling back to earth today after some early week exuberance as a cavalcade of hawkish central bank action and FedSpeak As Bloomberg reports, de-stocking is the main reason why the physical crude […]
Energy Secretary Jennifer Granholm said Thursday that the United States could begin purchasing oil to refill the Strategic Petroleum Reserve as early as June, offering the administration’s most optimistic timeline to date as to how soon it might begin […]
Reuters U.S. Secretary of Energy Jennifer Granholm delivers a speech ahead of a conversation with Daniel Yergin, the vice chairman of S&P Global, during the CERAWeek energy conference in Houston, Texas, U.S., March 8, […]
Authored by Robert Rapier via OilPrice.com, The Biden Administration has sold 266 million barrels of oil from the Strategic Petroleum Reserve since his inauguration. In October, with prices still above $80, the administration announced that […]
Authored by Bruce Wilds via Advancing Time blog, One of Biden’s answers to combating higher gas prices has been to tap into America’s oil reserves. While I was never a fan of the U.S. Strategic […]
It could take years for the United States to refill the Strategic Petroleum Reserve, the U.S. energy secretary told lawmakers on Thursday, after sales directed by President Joe Biden last year pushed the stockpile to […]
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