Chevron to Buy Hess for $53 Billion
Updated Oct. 23, 2023 10:12 am ETChevron said it would buy Hess in an all-stock deal worth $53 billion, the...
Crude Oil Markets
Oil Is Near $100. Shale Isn’t Coming to the Rescue.
Frackers are constrained by investor payouts, inflation and interest rates, keeping spending in check. Source link
Saudi Aramco Posts Record $161 Billion Profit for 2022
Saudi Arabia’s national oil company reported the largest profit by an energy firm, continuing a dramatic turnaround for the industry...
War in Ukraine Drives New Surge of U.S. Oil Exports to Europe
MarketsCommoditiesOil MarketsWith the West mostly shunning Russia’s oil and gas, U.S. crude exports increase Source link
OPEC+ Ministers Stick to Cutting Plan Amid Oil-Demand Uncertainty
A panel of energy ministers said the group of petrostates would continue cutting oil production, amid uncertainties about demand in...
Chevron Rides High Oil Prices to Record $35.5 Billion Annual Profit
The oil company banked historic profit last year as the pandemic receded and the war in Ukraine pushed oil prices...
China’s EV Sales Broke Record in 2022 as Overall Auto Market Stalled
Rising retail demand for electric and plug-in hybrid vehicles boosted the auto market as traditional-car sales slipped 13%. Source link
Oil Price Rises After Russia Cap Kicks In
MarketsCommoditiesThe sanctions aim to crimp Russia’s oil income while preventing a surge in energy prices Source link
G-7 Sets Russian Oil Price Cap of $60 a Barrel
The move came just hours after the European Union united behind the figure, as Western nations try to curb Moscow’s...
As Europe Caps Energy Bills, the Merits of Price Controls Get Another Look
The highest inflation in decades and the steep drop in Russian natural gas exports to Europe have pushed a growing...
OPEC+ to Weigh Production Cut to Bolster Oil Prices
OPEC+ is set to consider Wednesday its most drastic reduction of production since the pandemic began in order to help...
U.S. August Inflation Rate Is Expected Tuesday Amid Lower Gasoline Prices
The U.S. inflation report for August will offer details of the price changes consumers faced at the end of the...
How a CEO Rescued a Big Bet on Big Oil; ‘There Were a Lot of Doubters’
Occidental Petroleum Corp. OXY 1.75% entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers....
OPEC+’s Warning Shot
Updated Sept. 5, 2022 5:30 pm ET Russia is using natural gas to punish Europe. Oil hasn’t yet been similarly...
Aramco Reports Record Profit, Injecting Saudi Kingdom With Cash
DUBAI—High crude prices are infusing Saudi Arabia with billions of dollars in cash, fueling record profit at its national oil...
G-7 Bid to Cap Russian Oil Price Faces Hurdle of Global Enforcement
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U.S. Retail Sales Declined in May as Inflation Stings Consumers
Americans’ retail spending declined in May, as consumers felt the pinch from inflation, higher gasoline prices and rising interest rates.Retail...
As Gas Prices Near $5 a Gallon, Record Fuel Costs Upend Businesses, U.S. Economy
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner...
Bottleneck Fuels Record-High Gas Prices
A shortage of fuel-making facilities is pushing U.S. gasoline and diesel prices to record levels, just as drivers prepare for...
Saudi Aramco Posts Record Quarterly Profit on Surging Oil Prices
DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the oil giant benefits from surging oil prices following Russia’s...
