The measure in the US funding legislation unveiled by congressional leaders on Sunday, which seeks to block China from buying oil from the Strategic Petroleum Reserve of the United States, is more symbolic than of practical meaning. The issue of SPR oil sales to China actually heated up after US President Joe Biden announced a sale of 180 million barrels …
Joe Biden is releasing millions of barrels from the United States’ crude oil stash. US President Joe Biden has announced the release of one million barrels of crude oil every day for the next six months from the Strategic Petroleum Reserve, the largest such release from the United States stockpile in history. The latest amount of US oil release would …
Oil is a red-hot commodity right now, and a slew of factors are converging that could send prices even higher. When the highly infectious Omicron variant of COVID-19 first hit the headlines late last year, oil markets braced for a sharp drop in crude demand. Reed Blakemore, deputy director of the Atlantic Council Global Energy Center, told Al Jazeera that …
After being shunned by OPEC+, US President Joe Biden faces growing pressure to rein in prices. US President Joe Biden, like all presidents, is mindful of how higher gasoline prices can make voters discontent with his stewardship of the economy. “The US president does not have much control at all over gasoline or oil prices, even inside the United States,” …
