 Energy & Environment |
Energy & Environment |
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OPEC+ nations extend oil supply cuts |
Major oil-producing nations extended previously announced oil supply cuts through the end of 2025. |
© AP Photo/Charlie Riedel |
The group of countries, known as OPEC+, said Sunday it would extend voluntary supply cuts announced in April until the end of 2025. It also extended further cuts, announced in November, through September of this year. The extended cuts are expected to exert upward pressure on oil prices in the months ahead, though they will not be the only factor that has influence. Any increases in oil and gasoline prices are expected to hurt President Biden's campaign, regardless of whether they are tied to actions by the Biden administration. The oil-producing countries said that in September, they will begin phasing out the 2.2 million barrels per day cut on a monthly basis until the end of September 2025. Despite the extended cuts, prices for international benchmark brent crude oil were relatively low on Monday, falling below $80 per barrel for the first time in several months. Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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California’s largest wildfire to date this season — kindled on Saturday adjacent to an explosives- and materials-testing facility — has been 75 percent contained, Cal Fire announced Monday. |
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| Mexican President-elect Claudia Sheinbaum, the nation's first woman president and first Jewish president, has a background in environmental policy that includes work for the Nobel-winning United Nations Intergovernmental Panel on Climate Change (IPCC). |
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(NEXSTAR) — One of the largest cities in the South has dethroned an urban East Coast area to become the nation's "dirtiest" city, according to a recent study. |
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Branch out with a different read on The Hill: |
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ATLANTA (AP) — For at least some residents, Atlanta's water problems weren't over Monday. |
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Upcoming news themes and events we're watching: |
The Senate Energy & Natural Resources Committee will hold a business meeting Tuesday to consider the nominations of David Rosner, Lindsay S. See and Judy W. Chang, to be members of the Federal Energy Regulatory Commission.
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Indigenous nations approve historic water rights agreement with Arizona. It now goes to Congress (The Los Angeles Times)
Trump suggests to oil donors he will fast-track their merger deals (The Washington Post)
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Two key stories on The Hill right now: |
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Rep. Marjorie Taylor Greene (R-Ga.) was reprimanded by Rep. Brad Wenstrup (R-Ohio), the chair of the House Oversight and Accountability Select Subcommittee on the Coronavirus Pandemic, for refusing to recognize Anthony Fauci as a doctor while questioning him. Read more |
| Former President Trump on Sunday called on the Supreme Court to act ahead of his July sentencing after he was found guilty on 34 felony counts in his New York City hush money trial last week. Read more |
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Op-ed related to energy & environment submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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