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.
With consumers feeling inflation-fueled pain at the pump, the government has more options than dipping into oil reserves.
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.
Spencer Platt/Getty Images

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

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.
AFP via Getty Images

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

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As cases of COVID-19 climb, oil prices face a longer recovery

Oct 19, 2020
OPEC countries, plus Russia, met Monday amid fears that the next wave of the pandemic will pummel demand.
An Austrian soldier stands guard outside the OPEC headquarters in Vienna in 2016.
Joe Klamar/AFP/Getty Images

Oil prices tick back up as economies reopen, OPEC extends production cuts

Jun 8, 2020
Oil's recovery will depend on how the pandemic plays out, and whether there will be a second wave of illness.
The so-called OPEC+ club of producers agreed on Saturday to to extend oil production cuts into July.
Alexander Klein/AFP via Getty Images

Can even a deal to cut oil production increase prices amid COVID-19?

Demand for oil is falling so quickly that even a reduction in supply will take some time to affect markets.
Many shale oil companies can operate profitably with prices so low.
Justin Sullivan/Getty Images