Oil Producers in a 'Dire Situation' and Unable to Ramp Output, Says Oxy CEO – NBC 5 Dallas-Fort Worth
Oxy CEO Vicki Hollub said U.S. oil output can’t just be ramped up quickly to meet new demand.
Source: nbcdfw.com
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Oxy CEO Vicki Hollub said U.S. oil output can’t just be ramped up quickly to meet new demand.
The U.S. is expected to announce as early as today that it will ban imports of Russian oil, NBC News reported.
Gas prices are at a new record as Russia’s war on Ukraine disrupts global energy markets.
The move came as Western-allied nations work to sever Moscow from the global economy as punishment for its ongoing war in Ukraine.
The International Energy Agency should release 240 million barrels of oil from strategic petroleum reserves, Hess Corp. CEO John Hess said.