The U.S. benchmark oil price fell below $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.
Category: Organization of the Petroleum Exporting Countries
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Saudis Find Sympathetic U.S. Ears at ‘Davos in the Desert’
A Saudi decision to support a cut in oil output infuriated Washington. But at an investment conference in Riyadh, there was plenty of praise for the kingdom.
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A Secret, Failed Oil Deal: How the U.S.-Saudi Relationship Ruptured
Ahead of President Biden’s trip to Saudi Arabia this summer, his administration thought it had secured pledges of increases in oil production throughout the year. The opposite happened.
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U.S. to Release Millions More Barrels of Oil to Contain Gas Prices
The Department of Energy will release 15 million more barrels from the Strategic Petroleum Reserve and plans additional releases this winter.