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The Biden administration is racing to complete a study that could complicate President-Elect Donald Trump’s plan to immediately approve new liquefied natural gas export terminals.

Donald Trump’s victory promises to shake up U.S. energy and environmental policy, with sweeping implications for oil production, offshore wind development and electric vehicle sales.

DUBAI, United Arab Emirates — Saudi Arabian oil giant Aramco reported third-quarter profit of $27.5 billion on Nov. 5, down about 15% from last year as low oil prices ate into its revenue.

The world’s demand for diesel is forecast to fall this year, a rare event for the fuel that powers swaths of the global economy.

Diesel prices across the U.S. averaged $3.536 per gallon, marking a 3.7-cent decline, according to U.S. Energy Information Administration data released Nov. 4.

Losses at truck maker Nikola more than halved year on year in the third quarter as a result of record sales, cost cutting and the absence of expenses incurred in the year-ago period.

Allison Transmission’s profit in the third quarter jumped 26.6% on the back of demand for Class 8 vocational trucks in North America, with executives saying it shows no sign of slowing down.

Escalating tensions in the Middle East and U.S. relations with China pose the greatest concerns for Big Oil, according to some of the industry’s top executives.

Saudi Arabia and allied oil producing countries said Nov. 3 they would postpone a plan to gradually increase oil output until the end of the year, extending their output cuts by one month.

Exxon Mobil’s third-quarter profit beat analysts’ expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition.