The president has previously drawn down the Strategic Petroleum Reserve to ease price pressures, but that could be more difficult now
Category: Production
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Chasing Big Mergers, Oil Executives Dismiss Peak Oil Concerns
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
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Exxon Acquires Pioneer Natural Resources for $60 Billion
The acquisition of Pioneer Natural Resources, Exxon’s largest since its merger with Mobil in 1999, increases the company’s presence in the Permian basin in Texas and New Mexico.
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G.M. Workers in Canada Go on Strike
More than 4,000 members of the Unifor union went on strike at General Motors after the two sides failed to reach a new contract.
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Tesla Sales Slip as It Readies Factories for New Models
Analysts expected a decline in sales for the quarter. Still, the dip may raise concerns about flagging demand.
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Oil Prices Jump on Extension of Production Cuts by Saudi Arabia and Russia
The move reflected renewed efforts by the two major exporters to bolster the price of crude.
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Tesla’s Profit Rose in the Second Quarter After Big Price Cuts
Elon Musk’s electric car company is facing intensifying competition from newer Chinese automakers and established Western car companies.
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Ford Slashes Price of Electric F-150 as Demand Weakens
Sales of electric vehicles have slowed recently partly because prices of some models like the F-150 Lightning had risen a lot.
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Ford Slashes Price of Electric F-150 Lightning as Demand Weakens
Sales of electric vehicles have slowed recently partly because prices of some models like the F-150 Lightning had risen a lot.
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Ford’s U.S. Sales Rose 10% in the Second Quarter
The automaker saw a big jump in deliveries of pickup trucks as demand from consumers and businesses remained strong.
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G.M.’s Sales Jumped 19% in the Second Quarter
The biggest U.S. automaker sold more trucks and sport-utility vehicles as supply chain problems eased and demand remained strong.