Oil

Wharton Professor Jeremy Siegel says the surge in oil prices won't be a big problem for inflation as natural gas keeps plummeting

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jeremy siegel

Steve Marcus/Reuters

US stocks trade mixed as oil surges on unexpected production cut by OPEC+

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Traders work on the New York Stock Exchange floor.
Traders work on the New York Stock Exchange floor in New York City.

AP Photo/Ted Shaffrey

Saudi Arabia-led oil cartel OPEC+ just slashed its crude output – and that's stoked inflation fears. Here's what you need to know.

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Biden and Mohammed bin Salman (MBS) fist bumping.
Saudi Arabia said Sunday it'd cut its oil output by 500,000 barrels a day.

Bandar Algaloud/Reuters

The banking crisis hammered crude oil prices so much that OPEC stepped in with a shock 1 million-barrel-a-day production cut

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OPEC OPEC+ oil producers oil price
The banking crisis hammered crude oil prices so much that OPEC stepped in with a shock 1 million-barrel-a-day production cut.

Ramzi Boudina/Reuters

US stocks close higher as markets assess fresh bank woes and recession fears

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new york stock exchange traders bank run silicon valley bank

TIMOTHY A. CLARY / Getty

It could take years for the US to refill its emergency oil reserves after last year's record sales

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The UAE is moving up an already ambitious target to increase crude oil output.
Oil barrels.

Getty Images

Russia is using decades-old oil tankers on icy waters to duck sanctions and prop up its struggling energy exports

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An abandoned cargo vessel lies
An abandoned cargo vessel lies beached along the Black Sea near the war torn city of Ochamchire in Abkhazia.

Loop Images / Contributor

Goldman Sachs slashes its oil price target as banking fiasco boosts recession fears

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Goldman Sachs traders NYSE
Goldman Sachs traders work on the floor of the New York Stock Exchange in New York, Monday, March 7, 2011.

Ramin Talaie/Corbis/Getty Images

Russian diesel has been sitting in Sudan waters for over 2 weeks because Moscow can't find buyers

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Oil tanker
An oil tanker.

Suriyapong Thongsawang

Western sanctions have weakened the dollar's dominance as India buys Russian oil with other currencies

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Russian President Vladimir Putin speaks to employees of the Almaz-Antey Corporation's Obukhov Plant in St. Petersburg, Russia, Wednesday, Jan. 18, 2023.
Russian President Vladimir Putin.

Ilya Pitalev, Sputnik, Kremlin Pool Photo via AP

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