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This post was originally published on this siteOct 31, 2021 (Bloomberg) President Joe Biden said he was reluctant to describe what he planned to do if oil-producing nations don’t boost output amid a global energy crunch as he criticized Russia and Saudi Arabia for an inadequate response.“I do think that the idea that Russia and Saudi […]

This post was originally published on this site(Bloomberg) Energy Secretary Jennifer Granholm said U.S. gasoline prices could decline by early December and singled out OPEC as a reason for why Americans have been paying more at the pump. “That oil market is controlled by a cartel,” Granholm said on NBC’s “Meet the Press” on Sunday. “That

This post was originally published on this site(Bloomberg) The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China this winter.Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp. confirmed

This post was originally published on this siteLONDON, Oct 29 (Reuters) – The White House has consistently argued the global economy will grow its way out of current supply chain bottlenecks, with strong demand encouraging investment in new capacity, bringing price rises gradually under control. In this view, demand will eventually create its own supply,

This post was originally published on this siteSmoke rises from oil refinery stacks at Philadelphia Energy Solutions plant in Philadelphia, Pennsylvania, U.S., August 21, 2019. REUTERS/Mark Makela LONDON, Oct 31 (Reuters) – The United Nations and the European Union launched a global watchdog on Sunday to monitor governments’ pledged reductions of greenhouse gas methane that

This post was originally published on this siteU.S President Joe Biden speaks during a press conference in the G20 leaders’ summit in Rome, Italy October 31, 2021. REUTERS/Kevin Lamarque ROME, Oct 31 (Reuters) – U.S. President Joe Biden said on Sunday it was “not inconsistent” for him to push energy-producing nations to increase output of

This post was originally published on this siteOct 29 (Reuters) – U.S. energy firms added oil and natural gas rigs for a 15th month in row in October as oil prices soared to fresh seven-year highs, prompting some drillers to return to the wellpad. For the week, the oil and gas rig count, an early

This post was originally published on this siteU.S. President Joe Biden attends a family photo session during the G20 summit at the La Nuvola in Rome, Italy October 30, 2021. Erin Schaff/Pool via REUTERS WASHINGTON, Oct 30 (Reuters) – U.S. President Joe Biden met with German Chancellor Angela Merkel and discussed efforts to keep Russia

This post was originally published on this siteOct 29, 2021 (Bloomberg) For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a

This post was originally published on this siteOct 29, 2021 (Bloomberg) Oil and gas companies would be forced to pay for excess methane leaking from wells, storage sites and pipelines under a draft of President Joe Biden’s climate-and-social-spending plan. Under the measure released Thursday, fees of as much as $1,500 per ton would be imposed on