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U.S. President-elect Donald Trump is poised to order changes meant to encourage domestic oil and gas development immediately after his Jan. 20 inauguration.

The Baltic Exchange’s TD3C Index, which reflects rates for VLCCs on the Middle-East-to-Asia route, dropped to so-called Worldscale 39.05 on Dec. 13.

TRENTON, N.J. — The New Jersey Legislature is considering charging gas and oil producers fees, and creating a Climate Superfund to clean up toxic waste.

The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine.

The U.S. reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit.

The Biden administration plans to sell drilling rights in the Arctic National Wildlife Refuge, a last-minute maneuver that could complicate the incoming administration’s plans.

FRANKFURT, Germany — Eight members of OPEC+ decided Dec. 5 to put off increasing oil production as they face weaker than expected demand and competing production from non-allied countries.

With OPEC+ set to make a pivotal decision on production policy, oil prices remain resolutely rangebound, even with a second Donald Trump presidency imminent.

Oil and gas producers in the U.S. will not raise output significantly in the coming years despite calls from President-elect Donald Trump to “drill, baby, drill,” said an Exxon executive.

OPEC+ has little scope to reverse its oil production cuts, which have triggered a wave of rival supply from the U.S. shale industry, Iran’s representative to the group said.