oil

A man walks past OPEC headquarters in Vienna on Tuesday on the eve of the 45th meeting of the Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting. The in-person meeting of OPEC members led by Saudi Arabia and allied members headed by Russia will be the first in the Austrian capital since the spring of 2020.

Russia and Saudi Arabia agree to massive cuts to oil output. Here's why it matters

11:57am October 05, 2022

by Jackie Northam

The 2 million bpd cut in oil production was backed by Saudi Arabia and could benefit Russia. The OPEC+ meeting took place as much of the world is battling soaring energy costs and rising inflation.

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A person goes to the pump at a gas station in Arlington, Va., on July 29. The national average price of gasoline fell below $4 a gallon on Thursday.

Gas prices drop below $4 a gallon. These factors will determine what happens next

9:27am August 11, 2022

by Arezou Rezvani

The national average price of gasoline has fallen below $4 a gallon. These are four key factors that could determine what happens next with prices at the pump.

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President Biden's visit to the Middle East will start in Israel on Wednesday. Then he will go to the Israeli-occupied West Bank to meet the Palestinian leadership. From there, he'll attend a regional Arab summit in Jeddah, Saudi Arabia, where he'll meet l

Biden's Middle East trip aims to shore up a relatively calm moment in the region

3:44pm July 12, 2022

by Larry Kaplow

In his visits to Israel and Saudi Arabia this week, President Biden will aim to keep the oil flowing and lock in progress on the Middle East's simmering conflicts.

Smoke rises from the Metallurgical Combine Azovstal in Mariupol, eastern Ukraine, on Thursday. Heavy fighting is raging at the besieged steel plant as Russian forces attempt to finish off the city's last-ditch defenders and complete the capture of the str

World News

Russia-Ukraine war: What happened today (May 5)

4:58pm May 05, 2022

by NPR Staff

A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.

European Commission President Ursula von der Leyen delivers her speech during a debate on the social and economic consequences for the EU of the Russian war in Ukraine, Wednesday, May 4, 2022 at the European Parliament in Strasbourg, France.

World News

EU leader calls for Russian oil ban in new set of sanctions

4:09am May 04, 2022

by The Associated Press

The EU chief concedes that that getting all 27 member countries — some of them highly dependent on Russia for energy supplies — to agree on oil sanctions will be extremely difficult.

A man uses cooking oil to fry Mandazi, a type of fried bread, on a street in the low-income Kibera neighborhood of Nairobi, Kenya, Wednesday, April 20, 2022.

World News

Russia's invasion of Ukraine heats up cooking oil prices in global squeeze

5:36am April 26, 2022

by The Associated Press

The Russian invasion of Ukraine has further fueled already high food and energy costs, hitting the poorest people hardest.

HPU Poll surveys North Carolinians on gas prices, inflation

4:29pm April 12, 2022

by Keri Brown

As gas prices rise at the pump, a new poll

President Biden is said to be considering releasing oil from the country's strategic reserve to ease gas prices.

Biden plans a major withdrawal from the country's oil reserves to control gas prices

3:07pm March 31, 2022

by NPR Staff

The decision comes as prices have spiked since the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.

A customer pumps gasoline into his car in Gulfport, Miss., on Feb. 19.

With gas prices soaring over the Ukraine war, here's a plan to cut oil consumption

6:02pm March 18, 2022

by Jeff Dean

From cutting highway speed limits to launching car-free Sundays in big cities, the International Energy Agency proposes to cut the demand for oil by as much as 2.7 million barrels per day.

Argenis Dominguez fueling up his SUV at a gas station in Boston. He drives Uber for a living and says the higher gas prices mean less money in his pocket.

Economy

Record gas prices hit working class Americans with inflation already surging

2:07pm March 10, 2022

by Chris Arnold

With each passing day the disruption of oil markets related to Russia's invasion of Ukraine pushes up gas prices in the U.S. to a new record.

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