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Oil prices could soar to $150 in a fully reopened world: Jefferies

Oil prices could move "a lot higher" from current levels given the world's deep reliance on fossil fuels and may hit $150, says Christopher Wood from Jefferies."In a world that really reopens — which is a big 'if' — the oil price can...

Oil supply in focus amid omicron Covid variant fears

Oil rigs work on platforms in Gaoyu Lake in Gaoyou in east China's Jiangsu province Friday, Sept. 17, 2021.Barcroft Media | Getty ImagesOPEC and non-OPEC oil producers, an influential group known as OPEC+, decided on Thursday to stick to a previously agreed upon...

Oil output policy in focus as omicron rattles markets

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria.Ramzi Boudina | ReutersA group of some of the world's most powerful oil producers is meeting Wednesday to discuss how much...

Biden ready to release more oil reserves to cool price: Amos Hochstein

A truck passes pumpjacks in the Belridge oil field on November 03, 2021 near McKittrick, California.Mario Tama | Getty Images News | Getty ImagesPresident Joe Biden's administration stands ready to release even more barrels of oil from its strategic reserves should the need...

Oil jumps, recouping some losses following worst day of the year

Oil derrick pumps operate at the Inglewood Oil Field in Culver City, California, on Sunday, July 11, 2021.Kyle Grillot | Bloomberg | Getty ImagesOil prices jumped Monday as traders bet that Friday's sharp sell-off, prompted by fears that the new omicron Covid variant...

Biden recommends reforms to oil and gas drilling, stops short of ban

An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021.David Paul Morris | Bloomberg | Getty ImagesThe Biden administration on Friday proposed reforms to the country's oil and gas leasing program that would raise...