This is the best tl;dr I could make, original reduced by 94%. (I'm a bot)

> Today we'll explore why Russia may need to sell oil at steep discounts, take a look at the record broken by America's second biggest oil company and see why the Biden administration is betting on biofuels.

> Unpredictable oil: Russian oil initially declined following the Dec. 5 implementation of an EU embargo on crude, as well as a $60 price cap set by the EU and Group of Seven nations.

> California oil giant Chevron Corp. posted record profits of $35.5 billion last year, according to a 2022 fourth quarter report released on Friday.

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