Oil Prices ///

U.S. tries to improve relations with OPEC after oil-price scuffle

The U.S. is trying to re-focus its energy relationship with top Middle East OPEC countries, notably Saudi Arabia, after a period of tension between Washington and Riyadh over high oil prices.

Omicron scare sends oil prices into worst monthly loss this year

Oil headed for the biggest monthly loss since the early days of the coronavirus pandemic as investors weighed risks posed by the new omicron variant.

IEA boss blames “deliberate policies” of energy producers for price spikes

Energy producers -- not the transition to a greener economy -- are a key reason for soaring natural gas and power prices in Europe, according to International Energy Agency Executive Director Fatih Birol.

Saudi energy minister “not concerned” about Omicron Covid variant

Saudi Arabia’s Energy Minister Abdulaziz bin Salman played down the likely fallout from the new coronavirus variant that pummeled oil markets last week.

OPEC to review potential of latest Covid variant this week

OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited.

Oil prices rebound as traders consider Omicron’s threat to demand

Oil rebounded from one of its biggest ever daily drops as traders assessed the risks to global demand from the Omicron variant of Covid-19 and the potential response by OPEC and its allies.

Europe’s energy crisis about to worsen as winter arrives

Energy prices in Europe are repeatedly breaking records even before winter really kicks in, and one of the most damaging cost crunches in history is about to get worse as the temperature starts to drop.

OPEC expected to take cautious approach to oil demand at December meeting

The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group.

Biden says U.S. gasoline prices will fall, but it’ll take time

Americans will see prices at the pump fall “before long,” President Joe Biden said after tapping U.S. oil reserves to ease price pressures and risk a feud with OPEC.

Oil crashes more than 10% as new Covid variant strikes fear in global markets

Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand.

Biden wants the world to go green, while pushing for cheap gasoline at home

President Joe Biden wants Americans to dramatically scale back their use of gasoline. And he wants that fuel to be as cheap as he can get it. If you sense a contradiction there, you’re hardly alone.

OPEC says SPR releases may worsen coming global oil surplus

OPEC expects that oil stockpiles released by consuming nations could massively swell the surplus in global markets.

Oil prices steady as market shrugs off SPR release plans

Oil fluctuated following the announcement of a coordinated release of strategic petroleum reserves, with the additional supply unlikely to tame price gains in some pockets of the market.