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The Latest Breaking News from Oil

Commentary: New drone rules are a major step, but questions remain

Amid the drumbeat of news about the war in Ukraine and the rhetorical boxing match between the U.S. and Saudi Arabia over that Middle Eastern country’s oil production cut, a relatively big story has been buried in the headlines: The Biden administration has issued new rules on U.S. drone strikes…

Chicago Tribune

OPEC: Move to Cut Oil Output Was Unanimous to Prevent Crisis

The Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Haitham al-Ghais said on Tuesday that OPEC+ alliance took an unanimous decision to cut oil output as a pre-emptive measure to prevent a crisis. Speaking at the African Energy Week in South Africa, al-Ghais said the heads of delegations unanimously decided…

Asharq Al-Awsat

Biden to announce more oil reserve sales to reduce gas prices - Roll Call

The Biden administration will sell another tranche of oil from the national reserve in December to put a damper on gasoline prices.

Roll Call

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Wednesday briefing: Just Stop Oil fuels up for a long fight

In today’s newsletter: They’re climbing bridges, clogging traffic and vandalising a Van Gogh. But are protesters on the right road to a climate revolution – and how far will the government go to stop them?

The Guardian - UK

From spaghetti to brownies, this is how Mary Berry cooks for a crowd

Mary Berry’s new book and accompanying BBC series is all about putting sharing food front and centre and making life easier for everyone. Prudence Wade puts it to the test

The Independent UK

Malaysia: OPEC+ Decision to Cut Output Made to Address Market Uncertainties

Malaysia has said a decision by OPEC+ member states to cut oil production was unanimous, and made after taking into account the need to address market uncertainties. Malaysia joins other OPEC+ countries this week in backing a steep cut to the group's output target. "OPEC+ countries collectively took into consideration…

Asharq Al-Awsat

Do we really care more about Van Gogh’s sunflowers than real ones?

The Just Stop Oil activists are accused of tactics that will stop people listening. But ‘respectable’ protest is roundly ignored, says Guardian columnist George Monbiot

The Guardian - UK

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High-profile Fremantle Dockers supporters call on club to end Woodside sponsorship deal

A group of Fremantle Dockers members and supporters joins demands to end fossil fuel sponsorship of sporting clubs, calling on their team to cut its ties with oil and gas giant Woodside.

ABC News

Biden taps oil reserve in attempt to curb gas prices

It's the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.

Axios

Consumers taking out loans for lemons as dodgy used car sales rise in Queensland

Michelle took out a $10,000 loan to buy her dream car in April, but a week later it was at the mechanics with a major oil leak and she was left paying a loan for a vehicle she cannot use.

ABC News

Greg Wade’s passion for making bread yields his first cookbook

In “Bread Head: Baking for the Road Less Traveled,” the award-winning baker guides readers through the process of making bread at home.

Chicago Sun-Times

Biden is releasing 15 million barrels from the strategic oil reserve to tame prices

The Department of Energy has another 400 million barrels in its strategic reserves, which the White House said it can pull from in the future if necessary.

WEKU

NTSB: Communications outage a factor in lift boat disaster

A federal agency says an outage involving a Coast Guard marine warning system and “data gaps” in radar systems were factors in last year's deadly capsize of an oil industry lift boat off Louisiana's coast

The Independent UK

Biden to announce release of oil in bid to curb gas prices

It's the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.

Axios

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The Independent UK

Some risks too big: Insurers withdraw from fossil projects

Environmental campaigners are welcoming moves by insurance companies to exclude coverage for fossil fuel projects because of climate change

The Independent UK

Biden to authorise more releases from US petrol reserves

US president will announce new actions to address oil and gas prices in a speech on Wednesday

The Guardian - UK

Coal projects outside China becoming ‘uninsurable’, says climate group

As big firms stop insuring coal, complex schemes unlikely to find expertise needed, says Insure Our Future

The Orange County Register

Huntington Beach oil spill: $50 million settlement agreed to for locals hurt financially

Amplify Energy will pay $50 million to individuals and businesses that lost money last year when nearly 25,000 gallons of oil flowed into the ocean from of a ruptured pipeline about 4 miles off the coast of Huntington Beach, California, according to terms of a preliminary class action settlement filed…

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ABC News

Medibank apologises for 'cyber incident' and halts trading as ASX rises on Wednesday

Australian shares rise after US stocks ended higher on strong earnings, while oil prices fell overnight.

The Guardian - US

New Jersey latest state to sue oil companies over climate misinformation

The state is going after five oil companies – ExxonMobil, Shell Oil, Chevron, BP and ConocoPhillips – for their role in the climate crisis

The Conversation

Sanctions on Russia are increasing, not decreasing, its revenue

The European Union has just approved new sanctions against Russia, including a price cap on oil sales, following the United States’ Sept. 30 announcement of new economic sanctions. Both announcements are in response to Russia’s annexation of four regions of Ukraine.

USAFacts

Did releasing oil from the Strategic Petroleum Reserve impact gas prices?

Our nation, in numbers. USAFacts provides a comprehensive, nonpartisan view of the state of our union.

Salon

The oil industry has a talent vacuum

Who wants to work for the brands that brought you climate change?

Benzinga

Crude Oil Drops Over 2%; Akouos Shares Spike Higher

U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining around 300 points on Tuesday.

ABC News

Gas windfall profits tax could raise upwards of $20 billion, argues Australia Institute

A tax on the windfall profits generated by Australia's gas export industry due to soaring energy prices could raise more than $20 billion in a year, a new report from the Australia Institute argues.

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