Biden Admin Buys Millions Of Barrels To Refill Oil Stockpile After Dems Ripped Trump For Refill Plan At Lower Prices
The Biden administration purchased 2.8 million barrels to partially refill the strategic petroleum reserve (SPR) at prices significantly higher than prevailing prices when former President Donald Trump proposed to top off the…
China boosts imports of fuel oil blended from Russian barrels
By Chen Aizhu and Jeslyn Lerh SINGAPORE (Reuters) – China’s independent refineries are ramping up imports of discounted fuel oil blended from Russian barrels to use as low-cost feedstock amid a shortage…
U.S. crude stocks soar by more than 10 million barrels – EIA
By Arathy Somasekhar (Reuters) – U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and…
Libyan oil production at 1.2 million barrels per day, oil minister says
KUWAIT (Reuters) – Libya is producing about 1.2 million barrels per day of oil, oil minister Mohamed Oun told reporters on the sidelines of an OAPEC meeting on Monday. “We hope to…
U.S imports of Latam oil soar as refiners replace Russian barrels
By Arathy Somasekhar HOUSTON – U.S. refiners imported about 1.3 million barrels per day (bpd) of crude and fuel oil from Latin America in April, the highest in seven months according to…
No let off to oil prices as Russia barrels disappear from market – BP CEO
LONDON – BP does not expect any let off in oil prices in the near term as the volume of Russian oil impacted by Western sanctions was expectd to double, Chief Executive…
IEA to release 120 million barrels of oil to ease prices – Bloomberg
(Reuters) – The International Energy Agency (IEA) will release 120 million barrels of oil to ease prices, half of which would come from the United States, while other IEA members would provide…
Oil above $100/barrel to stay as market struggles to replace Russian barrels: Reuters poll
By Seher Dareen (Reuters) – A rally in oil is set to continue with prices staying well above $100 this year as a parched market struggles to wean itself off Russian oil,…
IEA ministers discuss release of 60 million barrels of oil -sources
LONDON – Ministers from member countries of the International Energy Agency (IEA) are discussing the release of 60 million barrels of oil from storage in a meeting on how to respond to…
Biden administration to release 13 million more barrels of oil from strategic reserve
The Department of Energy (DOE) announced Tuesday the release of millions of barrels of oil from the Strategic Petroleum Reserve (SPR) to combat soaring gas prices. The DOE approved the release of 13.4…
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