Tag: Oil

Trump Admin to Buy Millions of Barrels of Oil

The Trump administration plans to buy millions of barrels of oil as the oil industry continues to slump amid supply and demand issues. According to The Hill: The U.S. government will buy 30 million barrels of oil from producers amid a financial downturn for the industry. The Department of Energy (DOE) announced Thursday it would

Oil Reaches Lowest Price Since 2003

The price of oil is at the lowest point it has been since 2003 according to new reports. According to The Hill: U.S. oil prices reached their lowest point since 2003 on Wednesday as the coronavirus has reduced demand in countries around the world. The prices fell for a third session, with U.S. crude Clc1

How President Trump Can Ease Pain At The Pump

By 1600 Staff It’s summer, which means demand for gas is peaking for the year. As Russia and OPEC play the same old games with oil output to increase the price, President Trump is working behind the scenes to increase oil production, but until then, he may opt to open up reserves. According to OilPrice.com