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...
Energy Markets
More Venezuelan Oil Unlikely to Reach Markets Soon Despite New Chevron License
BusinessBefore pumping crude in Venezuela, Chevron must collect debt, repair equipment and bolster its workforce while facing outages and security...
Biden to Sell More Oil From Strategic Reserve to Keep Gas Prices in Check
WASHINGTON—The Biden administration is planning to sell more oil from the country’s strategic reserves—and is considering authorizing new sales this...
U.S., Allies Negotiating Price Level for Russian Oil Cap
WASHINGTON—The U.S. and its partners are rushing to hammer out an agreement on a level for a price cap on...
Coal Miner Peabody Energy in Deal Talks With Australian Rival Coronado
ADELAIDE, Australia— Peabody Energy Corp. BTU -2.62% is in talks to combine with an Australian rival that could result in...
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+ Agrees to Biggest Oil Production Cut Since Start of Pandemic
VIENNA—The Organization of the Petroleum Exporting Countries and its Russia-led allies on Wednesday agreed to slash two million barrels a...
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...
The U.K., a Maritime Insurance Hub, Commits to Cap Price of Russian Oil
WASHINGTON—The British Treasury chief said the U.K. was committed to a U.S.-led effort to put a cap on the price...
Heat in Europe Is Driving Up Olive Oil Prices
Soaring temperatures in Spain this summer are expected to hit the country’s olive oil production, pushing up prices and threatening...
BHP Earnings Nearly Triple as Coal Prices Run Hot
ADELAIDE, Australia—BHP Group Ltd. said its annual profit nearly tripled as it benefited from the sale of its petroleum business...
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...
Shale Drillers Warn of Higher Costs as They Report Record Profits
Shale companies are reporting banner profits but are warning that inflation in the oil patch is leading them to increase...
Russia’s Central Bank Slashes Rates, Sees Smaller Hit From Sanctions
Russia’s central bank Friday lowered its key interest rate below its prewar level, and said it expects the economy to...
U.S. Inflation Hits New Four-Decade High of 9.1%
U.S. consumer inflation climbed to 9.1% in June, a pace not seen in more than four decades, adding pressure on...
Manufacturers Brace for Nord Stream Repairs, Fearing Pipeline Won’t Reopen
PARIS—European manufacturers are preparing for possible natural-gas rationing that would force them to shut production amid fears that Russia is...
G-7 Bid to Cap Russian Oil Price Faces Hurdle of Global Enforcement
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