Tags: oil and gas industry | energy supply and prices | stock buyback | production

Too Many Oil Firms Boost Stock Buybacks Instead of Output: White House

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(Getty Images)

Thursday, 17 March 2022 03:41 PM EDT

Too many oil and gas firms are increasing stock buybacks instead of increasing output, White house press secretary Jen Psaki said in a briefing on Thursday, as the United States continues to grapple with high oil prices.

Oil prices climbed 8% on Thursday, extending a series of wild daily swings, as the market rebounded from several days of losses with a renewed focus on supply shortages in coming weeks due to sanctions on Russia.

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Too many oil and gas firms are increasing stock buybacks instead of increasing output, White house press secretary Jen Psaki said in a briefing on Thursday, as the United States continues to grapple with high oil prices.
oil and gas industry, energy supply and prices, stock buyback, production
74
2022-41-17
Thursday, 17 March 2022 03:41 PM
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