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’
The New York Times – Business: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
The New York Times – Business: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 New York Times – Business:The Department of Energy will release 15 million more barrels from the Strategic Petroleum Reserve and plans additional releases this winter.