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OPEC plus other oil-producing countries
Average retail gasoline prices were higher on average during President Biden’s term than during President Trump’s term when measured by annual and multi-year means: Trump-era yearly averages clustered...
China and Russia prop up Venezuela through a mix of economic arrangements, political backing, and—particularly from Russia—military cooperation, but both partners have narrowed or conditioned support ...
Venezuela holds the world’s largest proven oil reserves—about 303 billion barrels—which gives it outsized geopolitical leverage within OPEC even though production has been sharply reduced to under 1 m...
COVID-era disruptions helped drive the high inflation that became a central political issue entering the 2024–25 period, but by the end of President Trump’s first year in office headline inflation was...
Average U.S. pump prices have been higher during much of Joe Biden’s presidency than during some earlier periods, including Biden-era peaks above $5/gal in 2022, but recent reporting shows national av...
Global crude prices fell roughly 14–25% during portions of Trump’s second-term period as OPEC+ moved to increase production, and U.S. retail gasoline averages moved down modestly—around the low-$3 ran...
Donald Trump’s deregulatory policies aimed to speed domestic oil and gas production and reduce energy costs, but their measurable effect on retail gasoline prices between 2017 and 2020 was small compa...
The 2022 U.S. releases from the Strategic Petroleum Reserve (SPR), the largest in modern history, put meaningful additional crude supply into global markets and coincided with temporary declines in oi...
Reuters quantified December 2025 crude and gasoline market moves primarily by reporting traded futures settlement prices for Brent and U.S. West Texas Intermediate (WTI), percent changes session-to-se...
Average U.S. gasoline prices were materially lower across Donald Trump’s 2017–2020 term (term average about $2.46/gal) than across Joe Biden’s time in office through the sources’ coverage (Biden-era a...
The COVID-19 pandemic triggered a historic collapse in global oil demand in early 2020 that forced U.S. crude production off its peak, drove prices to record lows (even briefly negative for some contr...
La narrativa secondo cui il Venezuela ha "annullato tutti gli ordini di vendita di petrolio ai paesi occidentali" non trova conferma netta nelle fonti disponibili: la maggior parte dei report indica c...
Expropriations under Hugo Chávez and the continued national control and mismanagement under Nicolás Maduro removed major international investment and technical capacity from Venezuela’s oil sector, co...
A large-scale Venezuelan production recovery — meaning a return from roughly 1.0 mb/d today toward multi‑million barrel capacity backed by investment — would exert clear downward pressure on global cr...
Geopolitical shocks — chiefly Russia’s full‑scale invasion of Ukraine in February 2022 and OPEC+ production decisions later that year — were major drivers of the global oil and gasoline price spikes t...
Global oil output rose faster than demand in 2024–25, creating inventory builds and downward pressure on benchmark Brent forecasts—EIA projected Brent averaging $74/b in 2025 (then $66 in 2026) and th...
Global oil events since January 2021 — chiefly the post‑COVID demand rebound and Russia’s 2022 invasion of Ukraine — were the principal drivers of the large rise and swings in U.S. pump prices after J...
Crude oil benchmarks are trading in the high-$50s to low-$60s per barrel as of November 21, 2025: TradingEconomics reports a CFD-based U.S. crude (WTI-like) price at $57.77/bbl (down 2.09% that day) a...
Projected U.S. retail gasoline prices for 2025 center on modest declines from 2024 averages, with multiple forecasts clustering around a and seasonal volatility expected; analysts cite easing inflatio...