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The Latest Breaking News from Oil

Putin Helped By Saudi Arabia In His 'Despicable' Ukraine War, Says Schumer As Anti-Oil Cartel Bill Gains Bipartisan Momentum

As the ‘No Oil Producing and Exporting Cartels’ (NOPEC) bill gained momentum among both parties, Senate Majority Leader Chuck Schumer (D-NY) said in his tweet that Saudi Arabia’s actions will long be remembered by Americans.

Benzinga

Chuck Schumer says ‘NOPEC’ bill targeting OPEC is on the table

WASHINGTON — Legislation that would allow the U.S. to sue OPEC nations is being considered as a possible response to the oil cartel’s production cut this week that benefited Russian President Vladimir Putin, said Senate Majority Leader Chuck Schumer on Thursday.

Tribune News Service

California takes leading edge on climate laws. Others could follow

California has enacted an ambitious package of legislation to aggressively combat the climate crisis — a bold move by the world’s fifth-largest economy that could inspire action in other states.

Tribune News Service

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Rees-Mogg: New oil and gas licensing will boost UK economy and energy security

Energy Secretary Jacob Rees-Mogg spoke as the North Sea Transition Authority began its latest round of licensing for offshore oil and gas.

The Independent UK

North Sea oil and gas licensing round opens with 'significant boost to UK energy security' sought

Priority clusters in Southern North Sea identified for quick delivery

Birmingham Post

US Democrats rally against Saudi Arabia, UAE after oil cuts

Riyadh defends decision to curb oil output, saying move aims to stabilise the oil market, not drive up prices.

Al Jazeera

California taxpayers to get refunds starting Friday to help with rising costs of gas

The Golden State will send tax refunds to about 23 million Californians starting Friday to help them navigate the rising costs due to inflation.

Los Angeles Times

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PTT venture to home in on logistics

National oil and gas conglomerate PTT Plc is diversifying into yet another non-oil business by setting up a logistics firm to provide goods transport and management services.

Bangkok Post

Interior Department moves forward with oil and gas drill site leasing

WASHINGTON — In order to comply with a provision of the climate, tax and health care law signed in August the Interior Department announced Thursday it would move forward with onshore and offshore oil and gas lease sales on federal lands and waters.

Tribune News Service

A bump and a miss: Saudi oil cut slaps down Biden's outreach

President Joe Biden is effectively acknowledging the failure of one of his biggest foreign policy gambles: a fist-bump with the de-facto leader of Saudi Arabia, the crown prince associated with human rights abuses

The Independent UK

Some Democrats push to punish Saudi Arabia after OPEC+ move to cut oil production

OPEC+ announced a cut of 2 million barrels a day starting next month. Some Democrats on Capitol Hill want to retaliate by cutting off military aid and reexamine ties to Saudi Arabia.

WEKU

Interior moves forward with oil and gas drill site leasing - Roll Call

The Interior Department said it would move forward with oil and gas lease sales on federal lands and waters.

Roll Call

Drivers warned that petrol prices will increase again after cut in oil production

The RAC has warned that retailers are likely to pass increased costs on to drivers as the wholesale price of fuel is expected to rise

Chronicle Live

US midterm elections: Five economic issues to watch

Inflation is on the minds of American voters as they head to the polls next month to decide who will control Congress.

Al Jazeera

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StockNews.com

TransGlobe Energy is Our Featured Stock of the Week

TransGlobe Energy (TGA) is in the midst of an earnings boom, yet the stock remains dirt cheap. Read on to find out why it's our featured stock of the week.

The Independent UK

EXPLAINER: How will OPEC+ cuts affect oil prices, inflation?

Oil cartel OPEC and its allies are cutting production

The Independent UK

Biden says Opec+ production cut ‘shows there are problems’ with US-Saudi relationship

The president says he and his advisers ‘haven’t made up our minds’ on pursuing ‘alternatives’ including easing sanctions on Venezuela

The Independent UK

Just Stop Oil protesters glue themselves to roads around Trafalgar Square

Specially trained police officers detached protesters from the road – they were then carried off to police vans.

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The Times of India

Opec output cut: Petrol, diesel price freeze in India just gets longer

NEW DELHI: The record six-month-long freeze in petrol and diesel price revision in all likelihood will be extended after international oil prices rose on the announcement of deep production cuts by Opec+.

Birmingham Post

County Durham cannabis firm Canna Group secures £500k government investment

The North East firm will use the funding to manufacture a form of cannabidoil

Reuters

Canada's Trudeau under pressure from Conservative rival to back new LNG

Canada's new Conservative leader Pierre Poilievre is putting pressure on Liberal Prime Minister Justin Trudeau's government to back new liquefied natural gas (LNG) projects as European countries reach out in a bid to plug energy shortfalls.

The Guardian - US

Biden pardons all federal offenses of simple marijuana possession – as it happened

President urges governors to do the same with state offenses: ‘No one should be in a local jail or state prison for that reason’

The Guardian - UK

Just Stop Oil activists arrested after glueing themselves to road in Whitehall

Met police confirm arrest of 25 climate campaigners for blocking road in central London

Radio France Internationale

Oil prices climb as world's biggest exporters agree to cut output

In Vienna, ministers from the 13-nation Organization of the Petroleum Exporting Countries (OPEC) and a group of 10 exporters led by Russia agreed to reduce production by 2 million barrels a day from November. The move pushed up global oil prices, but the Kremlin says production reduction is intended to…

Glasgow Live

Drivers issued warning as petrol prices could rise again as oil supply slashed

Oil supplies are set to be cut by two million barrels per day and experts are warning drivers that they could see the knock-on effect at the petrol pumps as prices are expected to rise.

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