oil production

The more of the world’s oil market that is controlled by the U.S., the better, and it seems as though Donald Trump is aware of this fact.

American multinational energy corporation Chevron on Monday signed asset swap agreements with Venezuela’s state-owned oil company PDVSA to expand oil production in the country’s Orinoco Belt, where the world’s largest accumulation of heavy and extra-heavy crude oil is located.

President Donald Trump oversaw record levels of domestic energy production in 2025, including close to a billion barrels of offshore oil, according to the Department of the Interior.

President Donald Trump on Monday called on the Department of Energy to immediately “DRILL, BABY, DRILL,” following the U.S. weekend strike on Iran.

President Trump’s first day executive orders make it clear that the administration plans to unshackle American energy production.

Vice President Kamala Harris on Tuesday claimed that the Biden-Harris administration has ramped up oil production.

Trade between Venezuela and the United States grew 113 percent in the first half of 2023 compared to the same period in 2022, a report found.

Socialist Venezuelan dictator Nicolás Maduro became the latest anti-American leader to forge ties with Saudi Arabia, receiving a warm welcome on Monday from Crown Prince Mohammed bin Salman in Jeddah the day before American Secretary of State Antony Blinken is set to arrive there.

The oil-producing country coalition OPEC+ announced dramatic production cuts on Sunday totaling 1.16 million barrels per day (bpd), sending oil prices surging on Monday morning.

Saudi Energy Minister Prince Abdulaziz bin Salman enthusiastically opposed policies to cap oil prices – apparently in reference to Western price caps on Russian oil – in an interview on Tuesday and asserted that Riyadh would not sell oil to any country that capped its oil’s price.

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman asserted Monday his country and other OPEC+ member nations “remain ready to intervene” and again cut oil production if they deem it necessary – a rebuke of a report in the Wall Street Journal claiming the oil cartel was preparing to increase supply.

“Do not taunt your neighbor with the blemish you yourself have,” the Talmud instructs us.

On Wednesday’s broadcast of CNBC’s “Squawk Box,” White House Senior Adviser on Energy Security Amos Hochstein argued that oil companies can “invest today in short cycles that will increase production” “instead of trying to lock in more profits” and vowed that

As the Biden administration continues to crush energy independence in the United States, Americans are more likely to trust Republicans on energy policy, a new Rasmussen Reports poll found.

China’s government propaganda newspaper Global Times described leftist President Joe Biden’s visit to the Middle East on Wednesday as an attempt to go “cap in hand” asking Gulf states to produce more oil – an apparent mockery of Biden’s inability to harness his leadership to lower fuel prices.

On Thursday’s broadcast of CNN’s “Early Start,” Moody’s Analytics Chief Economist Mark Zandi stated that he doesn’t give any weight to the argument that price gouging is causing inflation and argued that profits by oil companies “have a purpose. They’re

On Thursday’s “CNN Newsroom,” Professor of the Practice of Economic Policy at Harvard University and the Harvard Kennedy School Jason Furman, who served as Chairman of the Council of Economic Advisers under President Barack Obama and on the Council of Economic

On Thursday’s broadcast of the Fox Business Network’s “Evening Edit,” House Oversight Committee Ranking Member Rep. James Comer (R-KY) argued that there’s “whiplash” on energy policy among Democrats because House Democrats on the Oversight Committee were pushing oil companies to

The Saudis have scored a great diplomatic victory by winning a Biden visit and whatever other favors the administration has promised the kingdom in exchange for more oil. Unfortunately, none of this will help American motorists.

CLAIM: Democrat Cindy Axne claimed that there is “no logic” behind the claim that the Biden administration’s green policies are causing havoc to oil companies and their production.

Vulnerable Iowa Democrat Rep. Cindy Axne (D-IA) appears to have flip-flopped on her anti-American energy record, as she wants “oil producers here in our own country to ramp up their production back to where we were pre-pandemic.”

U.S. Energy Secretary Jennifer Granholm on Wednesday asked fossil fuel executives at a conference to increase production levels.

Libya’s state-run National Oil Corporation (NOC) announced on Monday that militia fighters shut down the Sharara oil field, the largest in the country, plus another vital oil field at el-Feel.

You’re either with Putin or against him, and if you oppose domestic energy production, you are with him.

An effective American president would increase U.S. energy, thereby reducing the funds Putin is using to kill Ukrainians. But while Russia is waging a hot war in Ukraine, the Democrats are more interested in waging World War E.

Americans show what their key priorities are only weeks ahead of the first primary elections, according to the most recent Trafalgar Group poll.

During an interview with Phoenix’s KTAR News 92.3’s “Arizona’s Morning News” on Thursday, Sen. Mark Kelly (D-AZ) said that if President Joe Biden increased domestic crude oil production, “that would lower the price” of gas. Co-host Jayme West asked, “[D]o

K.T. McFarland noted how the Biden administration’s energy policies benefit Russia by driving up the price of oil in an interview on Friday’s edition of SiriusXM’s Breitbart News Daily with special guest host Joel Pollak.

The toll the coronavirus is taking on the all-but-shuttered U.S. economy that has left more than 22 million Americans unemployed is also hurting the oil industry, including in North Dakota where the largest producer is reported to be halting production.

Saudi Crown Prince Mohammed bin Salman is in no doubt about the origin of a second attack on oil tankers in the Gulf of Oman. He blamed arch-rival Iran on Sunday and vowed his kingdom “won’t hesitate to deal with any threat” to its interests.

Soaring domestic production levels means the U.S. is ready to pass both Saudi Arabia and Russia to reclaim the title of the world’s biggest crude oil producer. It last held that position in 1974.

Cuba is about to receive its first major Russian oil shipment of the 21st Century, because the collapsing socialist government of Venezuela can no longer meet Cuba’s needs.

Iran will sign a deal with France’s Total on Tuesday for the development of gas production at a major offshore field in the Gulf, the Iranian oil ministry said.

Saudi Arabia has signaled that it may accept an oil deal that does not require Iran to scale back production, which is taken by Bloomberg News as a sign that Iran “has the edge” in its oil price war against the Kingdom.

OPEC’s thorniest dilemma of the past year – at least from a purely oil standpoint – is about to disappear.

It seems like only yesterday that the great hope of the oil market was that oil-producing nations, both inside and outside OPEC, would come together and cap production to bring prices back up. Now the chief executive of the Saudi national oil company says it will increase production, but he expects prices to start rising anyway.