equitieswatch
Tuesday, February 7, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

Hess CEO says U.S., allies should double, then quadruple oil stockpile release (NYSE:HES)

by equitieswatch
March 8, 2022
in Finance

imaginima/E+ via Getty Images

Governments have not done enough to ease the pain to global oil and gas markets from Russia’s invasion of Ukraine, and the U.S. and its allies should double their planned release from strategic petroleum reserves over last week’s agreed amount, Hess (NYSE:HES) CEO John Hess said Monday at the CERAWeek by S&P Global conference.

The U.S. led a coalition that committed to a joint release of 60M barrels of crude from strategic reserves, but Hess said the countries should release 120M barrels in response to the surge in global energy prices, and then follow up with another 120M barrels next month “and say more is coming if needed.”

The U.S. must “stand tall here and ensure the energy security of our country and the world by ensuring a strong oil and gas industry and recognizing the strategic role it plays in everybody’s lives,” Hess told CERAWeek.

Hess released presentation slides as part of the CERAWeek event.

Source link

YOU MAY ALSO LIKE

The U.S. is hurtling toward a recession. Here’s the best-case scenario for how it could play out—and the worst

Bitcoin Breaches $20,000 for the First Time Since 2020

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com