Oil prices eased in early Thursday trading after Asian markets opened as weak U.S. labor market data indicated economic demand may slow and impact demand.

Sen. Joe Manchin, D-W.Va., called a decision by the U.S. Court of Appeals for the Fourth Circuit "infuriating" after it delayed the Mountain Valley Pipeline project yet again.

The company has shifted geologists and engineers who had worked on the years long drilling campaign from its offices in Rio de Janeiro to other countries, they said.

GasBuddy head of petroleum analysis Patrick De Haan says OPEC's surprise production cut served as a "wild card" to gas prices, warning the Midwest and Florida will see spikes first.

Treasury Secretary Janet Yellen said that the decision by OPEC+ to reduce oil production isn't a positive move for global growth amid persistent inflation.

FOX Business' Stuart Varney discusses the impact of Biden's energy policy on gas prices as OPEC announces it will cut oil production by over a million barrels a day.

Surprise oil production cuts announced by OPEC+ on Sunday sent oil prices soaring higher, with Brent crude surging to more than $83 a barrel on Monday.

Japan has been buying Russian oil below the Western-imposed price cap of $60 a barrel, though Russian-sourced imports remain relatively small.

A group of OPEC and OPEC+ countries led by Saudi Arabia, Iraq and UAE announced voluntary oil production cuts of more than 1 million barrels per day in a surprise move.

According to a filing from the Securities and Exchange Commission, Warren Buffett’s Berkshire Hathaway has upped its stake in Occidental Petroleum.

The European Union imported more oil from the U.S. than Russia in December 2022, marking the EU's shift away from Russian energy following its invasion of Ukraine.

Russian officials say they have rerouted all oil exports to "friendly" countries at no loss to revenue but expect 2023 to be a more challenging year as Western sanctions bite.