US oil production is on the path to reach record highs in 2023, according to the Energy Information Administration (EIA), while active domestic oil rigs decline this year. Yahoo Finance Live comments on the Biden administration's stance on domestic oil production as President Biden opts out of attending the COP 28 climate conference in Dubai. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
With gasoline prices expected to stay relatively low all holiday season, stocks like HLT, VAC and ODFL could benefit.
Gas prices (RB=F) inch back to their lowest level since 2020, but are Americans generally satisfied with the Biden administration's attempts to rope in domestic gas prices? Yahoo Finance Senior Columnist Rick Newman describes the president's Bidenomics policies as "a flop" on the energy side of things, while also detailing how US consumers feel about the direction of inflation and recession risks. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.