Saturday, February 22, 2025
US seeks $3 billion to boost oil producers as prices plunge- oil and gas 360

US seeks $3 billion to boost oil producers as prices plunge

Houston Chronicle WASHINGTON (AP) — The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally. President Donald Trump had directed the Energy Department last week to fill the United States’ emergency stash of crude oil to the top,

Saudi Arabia announces $32 billion in emergency funds to mitigate oil, coronavirus impact- oil and gas 360

Saudi Arabia announces $32 billion in emergency funds to mitigate oil, coronavirus impact

CNBC Saudi Arabia’s government unveiled stimulus measures amounting to 120 Saudi billion riyals ($32 billion) on Friday to support an economy hit by the double blow of the coronavirus crisis and dramatically lower oil prices. The sum includes Riyadh’s 50 billion riyals package announced last week to support small and medium-sized businesses. Friday’s announcement introduces a further 70 billion riyals