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August 11, 2022

Energy and Environment
How the U.S. Oil and Gas Industry Works

The United States is the world’s top producer of oil and natural gas. Its decision to either continue at this pace or curb production to achieve its climate goals will have global consequences.

An oil refinery is seen from above at night. Lights shine throughout the refinery and a U.S. flag hangs in the center.

April 2, 2024

United States
DC Hybrid RealEcon Launch: Reimagining American Economic Leadership

With RealEcon, CFR is creating an initiative to study and debate the role of the United States in the international economy. The launch event of this multiyear, multifaceted initiative will explore w…

Play CFR President Michael Froman in conversation with columnist Gillian Tett and Canada’s Ambassador to the United States Kristen Hillman

May 14, 2020

COVID-19
The Elements Unfold: A Possible Bottom to Oil Prices

The process of going into lockdown due to the coronavirus pandemic has been revealing, especially in regards to oil. There are many elements to the smooth operation of global oil logistics that are n…

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020.

March 10, 2020

Saudi Arabia
Why Current Saudi-Russia Oil Price War Is Not Déjà Vu

It’s happened several times before: geopolitical tensions between Saudi Arabia and Russia have led to a dramatic drop in oil prices in years past. But the breakdown in Saudi-Russian cooperation in oi…

A gas station worker wearing a protective face mask sits next to a petrol station, after Saudi Arabia imposed a temporary lockdown on the province of Qatif following the spread of coronavirus, in Qatif, Saudi Arabia March 9, 2020. REUTERS/Stringer

April 6, 2020

Oil and Petroleum Products
Oil Ground Zero: Running Out of Storage

In recent days, the Donald J. Trump administration appears to have been sending mixed messages about oil. Typically, low oil prices can be a stimulus to the U.S. economy, but that is in situations wh…

 A local mural takes on new meaning while a United Parcel Service (UPS) delivery truck pauses at a traffic light, as the spread of coronavirus disease (COVID-19) continues in Washington, U.S., March 27, 2020.