Biden Vows ‘Consequences' for Saudi Arabia After Oil Production Cuts
Biden said in a CNN interview Tuesday that he was weighing action against the Saudis but declined to detail potential next steps.
OPEC+ to Cut Oil Production by 2 Million Barrels Per Day to Shore Up Prices, Defying U.S. Pressure
Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession.
Despite Drop in World Oil Prices, Gas Prices Remain High
If you hop from gas station to gas station, you’ve undoubtedly noticed that gas prices can vary widely — even at stations that are in close proximity to each other. Boston University professor Robert Kaufmann, who studies world oil markets, says drivers tend not to notice these price differences until gas prices skyrocket, and then drivers suddenly pay much more…
Rising Oil Prices Causing Concern for Home Owners
Although Spring is expected to bring warmer temperatures, the cost of home heating oil is still a worry for many homeowners as prices continue to rise. Experts point to the conflict in Ukraine as the main reason for the rise in energy costs not just in the US, but across the world.
Watch: Biden Full Speech on Banning Russian Oil Imports
President Joe Biden said on Tuesday the United States will stop accepting imported Russian oil.
Oil Prices Jump, Stocks Plummet Amid Russian Invasion in Ukraine
Stocks plunged and oil prices surged by more than $5 per barrel Thursday after President Vladimir Putin launched military action in Ukraine.