Saudi Arabia and other leading oil producers will slash output by more than 1 million barrels a day starting in May.
oil prices
Posted inBusiness, Nation & World, News
Biden approves major oil drilling project in Alaska over protests
The administration, in a move in the other direction toward conservation, earlier said it would bar or limit drilling in some other areas of Alaska and the Arctic Ocean.
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Posted inBusiness, Nation & World, News
Russia to cut oil production in retaliatory move that pushes prices up
The Kremlin is retaliating against a price cap imposed on its oil by the West. Oil prices edged up as a result.
Posted inBusiness, Nation & World, News
UK energy giant BP’s profits double to $27.7 billion
High oil and gas prices have hit Britain hard, with double-digit inflation fueling a wave of public-sector strikes, soaring food bank use and demands that politicians expand a tax on the windfall profits of energy companies.
Posted inBusiness, Nation & World
Oil spill in rural Kansas creek shuts down Keystone pipeline
Oil prices briefly surged midday Thursday amid news of the spill.
Posted inBusiness, Maine, News
Even before winter’s arrival, Mainers are relying on heating assistance
The cost of heating oil is far more expensive than last season, but the Maine State Housing Authority has less money than it did last winter and more families to assist.