oil

Global Market Could See 'Staggering' Oil Glut By End Of Decade

Trump has declared a 'national energy emergency.' What does that mean?

1:54pm January 20, 2025

President Trump made energy a top priority on his first day in office, declaring a national emergency – which no president has ever done before. The implications aren't clear.

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Biden makes an 11th-hour move to block coastal oil drilling

4:16pm January 06, 2025

President Biden has issued an executive order blocking drilling for oil in more than 625 million acres of U.S. ocean. It's the largest such move in history, but is almost guaranteed to be challenged under the incoming Trump administration.

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U.S. Oil Production On Pace For Record-Breaking Year

Under Trump, an 'all of the above' energy policy is poised for a comeback

5:00am December 09, 2024

Trump promised to "drill, baby, drill." What does that actually mean for the U.S. oil and gas industry – and other types of energy, too?

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Tensions are rising in the Middle East, but the rise in oil prices is muted – so far

4:26pm October 03, 2024

by Camila Domonoske

Crude oil prices have risen as Iran and Israel trade attacks, but not as much as you might expect. One reason? OPEC+ could pump a lot more oil if it wanted to.

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Gas prices are down. We could be headed for lows not seen since 2021

5:00am August 23, 2024

Pump prices having been falling all summer, and as Labor Day approaches, they're 47 cents lower than this time last year. Some analysts see $3 gasoline in our future.

(Photo by MANDEL NGAN/AFP via Getty Images)

Economy

Oil gluts, Russian bucks, and Starbucks

5:58pm June 14, 2024

Indicators of the Week is back! This week, we've got indicators about oil gluts, big bucks for Ukraine and fewer bucks at Starbucks. (Apologies for the slurping.)

Related episodes:
How to get Russia to pay Ukraine
An oil boom, a property slump and dental deflation

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Oil drills in Maracaibo Lake in Venezuela's oil rich Zulia state. The U.S. is renewing sanctions on Venezuela's oil industry.

World News

The U.S. renews oil sanctions on Venezuela citing a failure to allow fair elections

5:51pm April 17, 2024

by Tara Neill

The Biden administration will reinstate sanctions on Venezuela's oil and gas sector, accusing the government President Nicolás Maduro of failing to commit to "an inclusive and competitive election."

A man walks past a mural featuring oil pumps and wells in Caracas, Venezuela, as the country faces the prospect of the U.S. reimposing oil sanctions.

World News

Biden has to decide soon whether to sanction Venezuela. Here's what to know

8:18am April 16, 2024

by John Otis

Venezuelan President Nicolás Maduro's government faces a deadline this week — to commit to holding free and fair elections or face renewed U.S. oil sanctions.

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Oil tankers are seen at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia, on Oct. 11. This is one of the largest facilities for oil and petroleum products in southern Russia.

World News

Russia has amassed a shadow fleet to ship its oil around sanctions

6:01am January 21, 2023

by Jackie Northam

Russia would have to use tankers willing to get around sanctions to ship its crude to Asia. It's known in the oil industry as a "shadow fleet."

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World News

OPEC keeps oil targets the same amid uncertainty on Russian sanctions

8:07am December 04, 2022

by The Associated Press

The decision at a meeting of oil ministers Sunday comes a day ahead of the planned start of two measures aimed at hitting Russia's oil earnings in response to its invasion of Ukraine.