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News bites: EU agrees to ban Iranian oil imports
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01/23/12 09:54 AM ET
The European Union agreed to ban oil imports from Iran, The New York Times reports.
The Energy Information Administration will say Monday that oil production in the United States is increasing, The Wall Street Journal says.
The Times also reports on the effect of high oil prices on Americans.
Claims that Obama’s rejection of the Keystone XL pipeline will ensure that oil sands crude will be shipped to China are “overblown,” CNN reports.
Exxon Mobil agreed last week to pay $1.6 million in connection with an oil spill in Montana last year, The Associated Press reports.
BP could pay $25 billion to settle lawsuits stemming from the Gulf of Mexico oil spill, AFP reports.
