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Biden to release 15M barrels from oil reserve, more possible
President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve, and he will say more drawdowns are possible this winter.
Biden looks to increase oil supplies ahead of midterm voting
Joe Biden — a president who wants to move past fossil fuels — is rushing to increase oil supplies ahead of next month's midterm elections.
How will OPEC cuts affect oil prices, inflation?
Here is what to know about the OPEC+ decision and what it could mean for the economy and the oil price cap.
Federal judge blocks Biden’s pause on new oil, gas leases
The Biden administration’s suspension of new oil and gas leases on federal land and water was blocked by a federal judge in Louisiana.
Most of ransom paid after Colonial Pipeline hack has been recovered, officials say
The Justice Department has recovered most of a multimillion-dollar ransom payment to hackers after a cyberattack that caused Colonial Pipeline to halt its operations, officials said.
Third Exxon Mobil board member unseated as shareholders continue climate fight
Exxon Mobil shareholders have unseated a third board member in their bid to force the oil giant to deal more aggressively with climate change.
OPEC to increase oil output as global economy recovers
The OPEC oil cartel and allied producing countries have confirmed plans to restore 2.1 million barrels per day of crude production.
Pipelines ordered to assess cybersecurity after ransomware hack
U.S. pipeline operators will be required for the first time to conduct a cybersecurity assessment under a Biden administration directive in response to the ransomware hack of Colonial Pipeline.
Exxon board shifting on climate change, as at least 2 members lose seats
Exxon Mobil’s shareholders have voted to replace at least two of the company's 12 board members with directors who are seen as better suited to fight climate change, bolster Exxon’s finances and guide it through a transition to cleaner energy.
Report: Colonial confirms it paid $4.4M to pipeline hackers
The operator of the nation's largest fuel pipeline confirmed it paid $4.4 million to a gang of hackers who broke into its computer systems, according to a report Wednesday.
Exxon CEO: Get used to lower oil prices
Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth.
Oil at five-year low
(Bloomberg) Oil tumbled to the lowest level in more than five years on speculation a global supply glut that’s driven crude into a bear market will continue through the first half of 2015. West Texas Intermediate fell 2.1 percent to $53.61 a barrel in New York while Brent slipped 2.6 percent, reversing early gains spurred […]
