Economy Oct 05 OPEC+ makes sharp production cut to boost prices; gasoline costs may rise The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices.
World Sep 06 Europe is facing an energy crisis as Russia cuts gas. Here’s why Europe is struggling to contain an energy crisis that could lead to rolling blackouts, shuttered factories and a deep recession. The primary cause: Russia has choked off the supplies of cheap natural gas that the continent depended on for years…
World Sep 05 OPEC+ makes small trim to world oil supplies as prices fall OPEC and allied oil-producing countries, including Russia, have made a small trim in their supplies to the global economy. The move Monday underlines their unhappiness as recession fears help drive down crude prices — and the cost of gasoline, to…
World Sep 02 G7 pledges to impose a price cap on Russia oil Finance ministers from the Group of Seven industrial powers have pledged to put in place a system designed to cap Russia’s income from oil sales, an idea the nations’ leaders had promised to explore in June.
World Jul 21 Europe’s central bank raises interest rates for first time in 11 years The ECB is joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation.
World Mar 01 60 million barrels of oil to be released from global strategic reserves amid war Russia plays an outsized role in global energy markets as the third-largest oil producer.
World Feb 28 Ruble plummets amid global sanctions, sending Russians to banks and ATMs Ordinary Russians are facing the prospect of higher prices as Western sanctions over the invasion of Ukraine sent the ruble plummeting.
World Feb 28 Russians line up at banks as currency plummets in face of sanctions Ordinary Russians are facing the prospect of higher prices as Western sanctions over the invasion of Ukraine sent the ruble plummeting.
World Feb 22 Germany’s chancellor suspends Nord Stream 2 amid Ukraine tensions, but what is it? The undersea pipeline directly links Russian gas to Europe via Germany and is complete but not yet operating. It has become a major target as Western governments try to exert leverage on Russia to deter further military moves against its…
World Feb 08 Biden threatened to block Russia’s Nord Stream 2 amid Ukraine tensions, but what is it? U.S. President Joe Biden has targeted Russia's Nord Stream 2 natural gas pipeline as he tries to deter the Kremlin from a feared invasion of Ukraine.