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Biden will tap oil reserve, hoping to push gasoline prices down.

Energy experts said the reserve release would pack more punch if other countries, like China, also sold oil from their stockpiles. The International Energy Agency, an organization of more than […]




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Soaring Cost of Diesel Ripples Through the Global Economy

Farmers are spending more to keep tractors and combines running. Shipping and trucking companies are passing higher costs to retailers, which are beginning to pass them on to shoppers. And […]




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Loss of Russian Oil Leaves a Void Not Easily Filled, Straining Market

HOUSTON — Before its forces invaded Ukraine, Russia provided one out of every 10 barrels of oil the world consumed. But as the United States and other customers shun Russian […]




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How US Energy Independence Has Been Shaken by the Russia-Ukraine War

While OPEC has increased production to accommodate a growing global thirst for energy as the Covid pandemic recedes, Saudi Arabia has dismissed pleadings by the Biden administration to ramp up […]




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Why Are Oil Prices So High and Will They Stay That Way?

HOUSTON — Oil prices are increasing, again, casting a shadow over the economy, driving up inflation and eroding consumer confidence.Crude prices rose more than 15 percent in January alone, with […]




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OPEC Faces Omicron Uncertainty and Rebellious Customers

One thing is for certain when officials from OPEC, Russia and other oil-producing countries meet by teleconference on Thursday to decide how much oil to produce in January.They will want […]




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High Gas Prices Force Sacrifices, Like Travel and Dining Out

A driver in Belleville, N.J., cut his cable and downsized his apartment to save money for gas. A retiree in Vallejo, Calif., said he had stopped driving to go fishing […]




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As Western Oil Giants Cut Production, State-Owned Companies Step Up

Kuwait announced last month that it planned to invest more than $6 billion in exploration over the next five years to increase production to four million barrels a day, from […]




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Gas Price Increase Poses Challenge to U.S. Economy

Policymakers at the Federal Reserve have said they expect the increase in inflation to be short-lived, and they are unlikely to change that view based on an increase in energy […]




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Oil Nations Again Fail to Reach Deal as U.A.E. Demands Higher Quota

OPEC, Russia and other major oil producers failed to reach an agreement on proposed production increases on Monday — a third straight day of scheduled meetings without a deal.The main […]