The unrelenting march higher continues as the average price touches a new milestone, according to AAA.
If the E.U. reaches agreement on the embargo, Russian production may drop another one million barrels a day, or about 10 percent, analysts say.
The General Motors chief says efficiencies, innovations and learning from mistakes will allow her company to become a leader in electric vehicles.
Fully electric vehicles have fewer fires than gasoline-powered and hybrid cars, and their crash protection is at least equivalent.
American energy production has only inched up because executives fear that oil and gas prices won’t stay high.
Ford’s chief executive is about to introduce an electric F-150 pickup truck that could determine whether the automaker can survive and thrive in an industry dominated by Tesla.
The administration said the president would announce a plan to release reserves of crude daily for six months.
Global production will take time to ramp up, so the U.S. and other buyers will chase limited supplies, creating upheaval unseen in decades.
But the industry might not return to normal for days, and it still faces a chronic chip shortage that has stunted global production.
The electric vehicle maker’s stock surged after a public offering last fall but has since plunged, in part because the company failed to meet its 2021 goals.
President López Obrador wants to halt most oil exports and imports of gasoline and other fuels. Critics say he is reneging on Mexico’s climate change commitments.
The company will make electric pickups at an existing plant and batteries at a factory built with a partner, a person with knowledge of the plan said.
The International Energy Agency said in its monthly report that oil production was picking up in the United States.
The team behind “Rust” chose not to get an insurance package often carried by productions, which some in Hollywood said was a sign of cutting corners.
Streaming giants like Netflix and NBCUniversal are turning New Mexico into one of the country’s most coveted production hubs.
The tentative agreement came hours before a strike deadline and avoids a production shutdown at TV and movie studios already scrambling to make up for time lost in the pandemic.
The tentative deal averts a strike set for Monday and a production shutdown at television and movie studios already scrambling to make up for time lost in the pandemic.
They are victims of rising prices, not the perpetrators.
In the Middle East, Africa and Latin America, government-owned energy companies are increasing oil and natural gas production as U.S. and European companies pare supply because of climate concerns.
The deal could result in the sale of the struggling automaker’s Ohio factory to Foxconn. Lordstown is under federal investigation and needs more cash to mass-produce an electric pickup truck.
The recall now covers the car’s entire output, beginning with the 2017 version. The latest move, to add three model years, raises costs by $1 billion.
The pact clears the way for the group to pump more oil, helping ease a potential supply squeeze as global economies revive from pandemic lockdowns.
Experts say a period of costlier fuel is likely to be brief. But if consumers start to assume otherwise, it could mean problems for Biden and the Fed.
General Motors’ push to increase E.V. spending follows an announcement by Ford that it would start making an electric version of its F-150 pickup truck this year.
If it sells well, an electric version of the best-selling vehicle in the U.S. could help accelerate the move to electric vehicles.
An industry known for boom-bust cycles is resisting the temptation to pump more oil — for now.
The Organization of the Petroleum Exporting Countries and its allies stuck with its current quotas for April, with some exceptions.
The group is expected to weigh a potential but by no means certain production increase of as much as 1.5 million barrels a day.
The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less.
Oil prices rose to levels not seen since February. The two major oil producers had been moving in lock step since an April agreement to cut output.
With the city’s economy in a downturn, film production has been a bright spot, with crews again filling the city’s sound stages and, increasingly, the streets.
The original deal would have allowed increases starting next month. The new pact reflects producers’ concerns that the oil market could fall apart again.
But weak sales at stores and a stall in export orders raise fears of a possible second downturn this summer.
Businesses in the United States, Israel and other countries were planning to invest billions in export terminals. Now, those projects are being canceled or delayed.
Across the United States, companies are laying off workers, shutting down wells and preparing for a prolonged slump as oil prices tumble.
The aerospace giant said employees in the Puget Sound area would begin manufacturing commercial planes by the end of next week.
Saudi Arabia, Russia and other oil-producing nations have pledged to cut about 10 percent of global production, but demand is down by much more than that.
Some employees are coming in sick, and one woman died after being ordered back to work. “Our work conditions are out of control,” a longtime Tyson employee said.
The weakness raises the possibility that the Chinese economy may have shrunk in the first quarter of this year. It would be the first contraction since 1976.