Tag Archives: Oil Price

High Oil Prices could Fuel EV Adoption

As oil prices continue to rise and global demand is bouncing back to pre-pandemic levels, people could be buying into electric vehicles (EV) as an alternative to expensive fuel costs. The International Energy Agency (IEA) says that rising oil prices are expected to encourage people to shift away from traditional …

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Biden, Merkel Agree to Disagree on Nord Stream 2

President Biden and Chancellor Angela Merkel agreed to disagree on the Nord Stream 2 gas pipeline project of Gazprom during Merkel’s visit to Washington. Per a Reuters report, President Biden said, “Good friends can disagree,” with regard to the pipeline, which the United States opposes with the argument that Russia …

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Oil Steady as OPEC+ Battles To Break Deadlock

Oil prices were little changed and trading only slightly down early on Monday while the market is waiting for the OPEC+ group to begin a third day of meetings to try to reach a consensus about oil production levels in the coming months. As of 10:15 a.m. EDT on Monday, …

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Russia Is Ready to Open the Taps

There is economic life after the pandemic. While the novel coronavirus hasn’t been vanquished, oil demand has significantly risen in the past couple of months. According to the IEA, by the end of 2022 demand could have rebounded to pre-Covid levels. Rising prices are causing mild distress in Moscow which …

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