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Oil prices skid as Biden pushes for US fuel cost cuts

The Straits Times LogoThe Straits Times1w ago

Oil prices skid as Biden pushes for US fuel cost cuts

Quick Summary

June 22, 2022 12:56 PMUS energy firms are pressured to drive down fuel prices as they reap record profits.

The data showed a capacity decline of 125,790 barrels per day (bpd) last year on top of the 800,000 bpd drop in 2020.

"These actions are not beneficial to meeting the challenges we face," Mr Wirth said in a letter addressed to Mr Biden, which sparked a response from the President saying the industry was being too sensitive.


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Article Details

Category: Economy

Topics: Prices Barrel Supply Biden Latest Fuel Companies Inflation Data Gasoline Limited

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 12:56:44

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Reading Time: 4 minutes read

Article Length: 546 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 3007

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About The Straits Times

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Main Topics: Economy

Official Website: straitstimes.com

Update Frequency: 7 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 10h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

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Publisher ID: #25

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