Fuel

President Joe Biden’s administration intends to reimpose oil sanctions on Venezuela if Nicolas Maduro’s regime does not take steps to honor an agreement to allow a fairer vote in elections.

YOKOHAMA, Japan — Nissan expects to mass produce electric vehicles powered by advanced next-generation batteries by early 2029, the company said April 16.

The Biden administration will likely need to tap oil from the country’s emergency reserves to counter a spike in gasoline prices and amid inflation fears during the summer driving season.

The national average diesel price slid 4.6 cents to $4.015 a gallon, according to Energy Information Administration data released April 15. Diesel was last below $4 a gallon April 1.

Shale explorers are drilling wells faster than they’re fracking them, a strong signal that U.S. oil production growth is slowing.

Omers Private Equity is exploring an initial public offering of Kenan Advantage Group, one of North America’s biggest tank truck transporter and logistics providers, according to sources.

The flurry of Ukrainian drone attacks on Russia’s oil refineries risks disrupting global markets for petroleum products, the International Energy Agency said.

Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.

DETROIT — The driver of a Ford electric SUV involved in a February fatal crash in Texas was using the company's partially automated driving system before the wreck, investigators said.

Global oil demand won’t peak before the end of this decade due to underwhelming fuel economy standards and slowing adoption of electric vehicles in the U.S., energy researcher Enverus says.