(BOE Report)– The Trump administration is more concerned with the quality of trade agreements rather than their timing, U.S. Treasury Secretary Scott Bessent said on Monday ahead of an Aug. 1 deadline for securing a trade deal or facing steep tariffs. “We’re not going to rush for the sake of doing deals,” Bessent told CNBC in an interview. Asked whether
(World Oil)– West Texas Intermediate advanced almost 3% to settle above $68 a barrel after President Donald Trump said he plans to make a “major statement” on Russia on Monday and reiterated criticism of President Vladimir Putin. One sanctions bill, which at least 85 senators have endorsed, would levy 500% tariffs on China and India if they make any purchases
(BOE Report)– LONDON, July 10 – U.S. President Donald Trump’s signature budget bill slashed funding for refilling U.S. emergency oil reserves, violating his previous vow to fill them “right to the top”. This about-face raises the question of whether the U.S. still needs the Strategic Petroleum Reserve at all. The American SPR is the world’s largest emergency oil storage, able
(Oil Price)– Crude oil prices took a dip today after hitting a two-week high earlier, as traders awaited updates on President Trump’s tariff plans, following the latest delay in trade deals with some key partners such as Japan and South Korea. Brent crude was trading at $70.07 per barrel at the time of writing, with West Texas Intermediate changing hands for $68.26 per
(BOE Report)– The U.S. Interior Department on Monday proposed rule changes to allow energy companies to more easily combine oil and gas output from multiple leases using the same well pad, which could save the industry as much as $1.8 billion per year, it said. The proposed rule change, which would mostly affect onshore oil and gas drilling in the
(World Oil) – U.S. shale executives expect to drill significantly fewer wells this year than planned at the start of 2025, as lower oil prices and uncertainty around President Donald Trump’s tariffs hurt profits, according to a Federal Reserve Bank of Dallas survey. Almost half of oil executives said they expect to drill fewer wells in 2025 than planned at
(Investing) – The administration of U.S. President Donald Trump on Monday proposed rolling back Biden-era limits on oil and gas drilling in an Alaska area that is the nation’s largest tract of undisturbed public land. The move is consistent with Trump’s goal to slash regulations for oil and gas development and increase domestic fuels production as part of his energy agenda.
(World Oil) – The Trump administration sued Michigan and Hawaii seeking to block the states from suing oil companies for damage caused by climate change, less than two months after the U.S. Supreme Court rebuffed a Republican bid to derail such legal efforts. The U.S. claims the anticipated lawsuits interfere with federal policy on greenhouse gas regulation and are an
(Oil Price) – Since coming into power, U.S. President Donald Trump has made his intention to pivot away from green energy in favour of fossil fuels clear. During his first month in office, he signed executive orders aimed at boosting U.S. oil and gas production and exports by declaring a national energy emergency, removing regulatory barriers, and expediting permitting approval for oil and
(Oil & Gas 360) – A hallmark of democracy is that, after an election, the losing parties accept the results and become the “loyal opposition”. As such, they accept the results and loyally support the government with alert scrutiny of its actions to guide their informed criticism expressed within customary procedures of civil discourse. Occasional heated expressions of unacceptable language do
(World Oil) – With the inauguration of U.S. President Donald Trump on January 20, the future of American involvement in Africa’s energy sector is set for a significant shift. President Trump’s approach to energy has consistently focused on strengthening American interests, particularly by prioritizing domestic energy production. However, as he aims to reinforce America’s global position, especially in energy-rich regions like
Oil & Gas 360- Eighty-three years ago the United States pivoted its foreign policy attention to the Indo-Pacific following Japanese military attacks on US Territories of Hawaii and the Philippines. Shortly thereafter, it also found itself in a war in Europe as well. It could not pivot away from either Europe or the Indo-Pacific. Twenty-first century US foreign policy attention has
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