The move is an apparent effort to boost prices. Still, its significance may be slight, especially if the global economy slows.
Category: Oil (Petroleum) and Gasoline
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A ‘Rocking Chair Rebellion’: Seniors Call On Banks to Dump Big Oil
Older climate activists gathered in cities around the country for a day of action targeting banks that finance fossil fuel projects.
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The Head Spinning Reality of Venezuela’s Economy
After years of extreme scarcity, some Venezuelans lead lives of luxury as others scrape by. The nation of grinding scarcity has increasingly become one of haves and have-nots.
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Saudi Aramco Reports Record Profit as Fossil Fuels Remain ‘Essential’
Saudi Arabia’s national oil company earned $161 billion last year, a nearly 50 percent jump over 2021, and said demand for oil would continue.
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As Oil Companies Stay Lean, Workers Move to Renewable Energy
Solar, wind, geothermal, battery and other alternative-energy businesses are adding workers from fossil fuel companies, where employment has fallen.
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Europe Has Weathered an Energy Crisis, for Now
Worries about gas and oil supplies have greatly eased. But reverberations from the war in Ukraine continue to cloud longer-term forecasts.
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Pay and Plug: Federal Funds Spur Cleanup of Lost Oil Wells
The National Park Service has started closing orphaned wells using money provided under legislation signed by President Biden.
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European Natural Gas Price Falls to Lowest Level Since 2021
Europe may have avoided the worst-case economic scenario envisioned after the invasion of Ukraine, thanks to a dramatic drop in energy prices.
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BP, in a Reversal, Says It Will Produce More Oil and Gas
The company said global concerns about energy security prompted the change, as it reported record profits for 2022.