U.S. President Donald Trump's White House would sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of a plan to balance the budget over the next 10 years, documents released by the administration on Monday showed. The White House budget, which will be delivered to Congress on Tuesday, is meant as a proposal and may not take effect in its current form. The U.S. Strategic Petroleum Reserve, the world's largest, holds about 688 million barrels of crude oil in heavily guarded underground caverns in Louisiana and Texas.
The world’s biggest oil producers all have different production costs per barrel, but the breakdown of costs differs wildly per producer
A consensus may have formed over the outcome of this week’s OPEC meeting, but there are several distinct possibilities that markets should pay attention to