Inflation, bank failures, strikes, and artificial intelligence provided some of the biggest stories and trends of 2023.
Category: Oil (Petroleum) and Gasoline
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Red Sea Shipping Halt Is Latest Risk to Global Economy
Next year could see increasing volatility as persistent military conflicts and economic uncertainty influence voting in national elections across the globe.
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Angola to Quit OPEC in Dispute Over Oil Production Levels
Officials have been unhappy after the oil cartel, led by Saudi Arabia, pushed Angola and other countries to accept lower production ceilings.
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What Does the Red Sea Crisis Mean for Oil Prices?
Many energy and shipping firms have begun rerouting tankers, adding delays and extra costs to journeys that would put upward pressure on oil prices.
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Red Sea Attacks Add Another Snarl to Global Shipping
Already hampered by problems at the Panama Canal, shipping companies are now steering clear of the Suez Canal to avoid being attacked in the Red Sea.
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How the Suez Canal Attacks Could Upend Global Trade
Shipping rates have soared and energy prices remain volatile as vessels are redirected away from the vital commerce route.
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John Kerry on the COP28 Agreement and What Comes Next
John Kerry said major oil-exporting countries’ willingness to acknowledge that the era of fossil fuels must come to an end underscored the “urgency” of the deal.
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BP Takes Tough Line With Former C.E.O. Over Relationships With Colleagues
The oil giant said Bernard Looney had “knowingly misled the board” about the relationships and was not entitled to $40 million.
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Oil Producers Back Climate Deal Despite Fossil Fuel Language
At the United Nations climate conference, the final statement included elements that pleased oil and gas producers.
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What’s Missing from the COP28 Climate Deal
The agreement calls for phasing out fossil fuels. But it also lets oil producers keep drilling and gives few specifics on how to fund a shift to greener energy.
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Gas Prices Are Falling, Hitting Lowest Level in Almost a Year
The decline in gas prices has come as consumer sentiment has rebounded.