OPEC+ agrees to boost oil production. But probably not enough to lower prices.

Aug 3, 2022
The small increase of 100,00 barrels a day may be a sign that the cartel thinks a recession is coming.
By pledging to increase output by just 100,000 barrels a day, OPEC could be implying that it expects demand for oil to fall. Above, OPEC's headquarters in Vienna.
Joe Klamar/AFP via Getty Images

Why OPEC might decide to take a break from its alliance with Russia

Jun 1, 2022
Russia is the world's third-largest oil producer — such a decision won't be made lightly.
The relationship between Russia and the Organization of the Petroleum Exporting Countries has always been contentious.
Joe Klamar/AFP via Getty Images

What does OPEC have to say about the Russian oil situation? Not much.

Part of it comes down to the oil world's "delicate equilibrium."
OPEC is in "a very nice place of having super high oil prices and also being partially aligned with with Russia, and they don't want to destabilize either," said Fernando Valle, senior energy analyst at Bloomberg.
JOE KLAMAR/AFP via Getty Images

Biden administration considers its options as gas prices rise

Nov 18, 2021
Officials are considering releasing oil from the strategic reserve. They’re also pushing the FTC to investigate possible price gouging.
There are several factors that go into why the price for gas can be so different from country to country.
Justin Sullivan via Getty Images

Why politicians have little sway over gas prices

Aug 12, 2021
In an attempt to moderate gas and oil prices, Biden has asked OPEC to increase production, despite it being a function of market forces.
Gas prices near $6 a gallon at a Shell station on July 12 in San Francisco.
Justin Sullivan via Getty Images

Oil prices are high. So why aren't U.S. oil producers drilling?

Jul 6, 2021
Two reasons: reluctant investors and potential regulations.
A natural gas drill at a hydraulic fracturing site on in Springville, Pennsylvania, in 2012.
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Oil producers look at output levels as demand returns

Jun 30, 2021
OPEC and its allies are scheduled to meet Thursday as oil prices keep rising.
Ryad Kramdi/AFP via Getty Images

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Some traders bet on oil hitting $100 per barrel as economies thaw

Jun 8, 2021
Demand is picking up as more and more people resume their normal lives after vaccination.
With more people on the move as economies reopen, oil prices will keep going up if demand outraces supply.
Paul Ratje/AFP via Getty Images

OPEC delays and spending cuts: Uncertainty abounds in the oil and gas industry

Dec 1, 2020
OPEC and its allies are having trouble coming to an agreement, because individual countries see thing differently.
The Brega oil port in Libya in September.
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OPEC has to decide whether it will continue to curb oil output

Nov 27, 2020
Ramping up production when demand is still weak could have major consequences on a relatively stable oil market.
Joe Klamar/AFP via Getty Images