President Donald Trump demanded that U.S. oil companies immediately lower gasoline prices on Monday after crude futures plunged following his decision to suspend another planned military strike on Iran. In a Truth Social post, Trump instructed producers to “get your consumer (retail!) Oil Prices DOWN, NOW!”
The U.S. Department of the Interior has proposed targeted revisions to federal regulations governing exploratory oil and gas drilling on Alaska’s Outer Continental Shelf, seeking to modernize the 2016 Arctic Exploratory Drilling Rule while maintaining existing safety and environmental oversight.
President Donald Trump pulled back threatened military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic “VERY HARD” and threatened to seize its oil infrastructure.
Tensions in the Strait of Hormuz escalated after a tanker strike and renewed U.S. pressure on allies to help secure the critical shipping route, raising concerns over global oil and LNG supply.
In an effort to stem a global oil rally that is driving up gas prices, the Trump administration is taking part in a record‑breaking, multinational release of oil from its strategic stockpiles.
Europe is set to receive some of its first shipments of Venezuelan oil in nearly a year after traders rolled out offers worldwide to sell cargoes at the behest of the Trump administration.
US President Donald Trump has asked for at least $100bn (£75bn) in oil industry spending for Venezuela, but received a lukewarm response at the White House as one executive warned the South American country was currently “uninvestable”.
US President Donald Trump has asked for at least $100bn (£75bn) in oil industry spending for Venezuela, but received a lukewarm response at the White House as one executive warned the South American country was currently “uninvestable”.
President Donald Trump has reiterated his threat to make India pay “massive” tariffs unless it stops buying Russian oil, repeating that India’s Prime Minister had assured him those purchases would stop.
Trump, fresh from a state visit to the UK, warned that excessive taxation and regulatory hurdles have all but shut down new North Sea development. “There’s tremendous oil that hasn’t been found in the North Sea,” he said. “They essentially closed it by making it so highly taxed that no developer, no oil company, can go there.”