The Federal Trade Commission will bar Pioneer’s chief executive, Scott Sheffield, from joining Exxon’s board, saying he colluded with OPEC to reduce oil production.
Category: Organization of the Petroleum Exporting Countries
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Why Oil Prices Have Been Rising Recently
The increase this year, prompted by geopolitical worries and supply constraints, has sent gasoline prices higher and could hamper efforts to tame inflation.
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OPEC to Extend Oil Production Cuts Through June
Saudi Arabia’s announcement appears to be aimed at bolstering oil prices as growth in demand remains modest.
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Saudi Aramco Abruptly Drops Plans to Expand Oil Production
The pullback, at the behest of the Saudi government and made with little comment, probably reflects a more subdued outlook for demand of Saudi Arabia’s oil.
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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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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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Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears
American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.
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Oil Producers Fail to Agree on More Production Cuts
Oil prices fell after OPEC Plus’s year-end gathering failed to produce substantial cuts in output. But the group said Brazil, an oil giant, was expected to join.
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In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
Anticipating a drop in demand for 2024, major producers, led by Saudi Arabia, are trying to reduce supply.
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U.S. Gas Prices Drop Ahead of Thanksgiving Travel
With OPEC Plus members in disarray over production levels, oil prices have fallen nearly 20 percent in three months.
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Oil Prices on a March Toward $100 a Barrel
Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.