NEW YORK (AP) — The price of oil slid by nearly $1 a barrel Tuesday as the International Energy Agency raised its forecast for U.S. oil production while cutting its prediction for global crude demand.
IEA Executive Director Maria van der Hoeven said the U.S. should allow crude oil exports before the oil industry moves to circumvent restrictions, Reuters reports.
Brookings Institution forum on Revenue Watch 2013 Resource Governance Index. Revenue Watch Institute President Daniel Kaufmann, State Department Special Envoy and Coordinator for International Energy Affairs Carlos Pascual to speak.
The International Energy Agency said new technologies and expanded production would cause North America to lead worldwide oil supply growth over the next five years, The Wall Street Journal reports.
The International Energy Agency said China would likely expand storage sites for its strategic petroleum reserve, a move that would boost crude oil demand, Bloomberg reports.
A Chamber of Commerce study reported more than 100 new EPA rules have been forced by "sue and settle" tactics from environmental groups, The Hill reports.
The Nuclear Regulatory Commission told Charlotte-area residents that a crack at a reactor at Duke Energy's Shearon Harris Plant did not pose a threat to safety, WSOC-TV reports.
An international group of solar trade groups issued a statement calling on the European Union and the U.S. to avoid a trade war over solar panels with China, The Washington Post reports.
The European Union has sent information requests to several commodity-trading firms as part of its investigation into potential energy-price manipulation, The Wall Street Journal reports.
Royal Dutch Shell CEO Peter Voser said a European Union investigation into possible price fixing has not found anything that could damage the company, The Wall Street Journal reports.
ExxonMobil Corp. said it would refocus its research on algae-derived biofuels after it invested $100 million over the last four years with few solid results, Bloomberg reports.
The U.S. Geological Survey said water levels in aquifers declined from 2000 to 2008 at a rate nearly three times greater than any point in the last century, Reuters reports.
