Oil Industry News

The Strait of Hormuz has reopened - why that might be a problem for the oil market: Chart of the Day

As the war has wound down and the US and Iran continue ongoing negotiations, ship traffic through the Strait of Hormuz has begun to pick up, sending increasing amounts of oil to the global market that has been starved for it. That might be a…

Indian Stock Market: Crude Oil, Global Trends, TCS Q1 Earnings to Drive Sentiment

The Indian stock market is poised for a dynamic week, with crude oil prices, global economic indicators, and the highly anticipated Q1 earnings report from IT giant TCS on July 9 set to significantly influence trading sentiment. Indian stock market…

A Sudden Glut of Oil Threatens to Weaken Iran's Hand in Talks

Titan of financial services industry who built success on the oil boom dies

Hamish Buchan, who has died aged 81, was recognised as a leading adviser and manager of financial affairs and one of Scotland's leading investment trust analysts. He spent 30 years at the renowned Edinburgh broking firm of Wood Mackenzie, where he…

Mid-Year 2026 Market Outlook: Oil, Gold, And Copper

The 2026 oil price surge, driven by Middle East hostilities and the Strait of Hormuz closure, has reignited inflation and altered macro outlooks. Persistently high inflation, fueled by both energy and semiconductor shortages, is likely to constrain…

OPEC+ Ratifies Planned Oil Quota Hike as Gulf Flows Rebound

Major OPEC+ members agreed another modest increase to their collective oil-production quotas for next month, adding to the prospect of more supply eventually hitting the market if a US-Iran peace pact can stick. Seven nations led by Saudi Arabia…

Trump Pushes Politics on July 4th, OPEC+ Hikes Oil Quota, More

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Ukrainian drones hit St. Petersburg oil terminal in latest long-range attack on Russia

Ukrainian drones have struck an oil terminal in St. Petersburg as Kyiv ramps up bombardment of Russia's oil infrastructure. The attacks have created a fuel crisis in Russia and political pressure on the Kremlin. Ukrainian President Volodymyr…

OPEC+ set to approve another oil output increase, sources say

OPEC+ is set to agree on ​Sunday to another increase in output targets ​from August, sources with knowledge of ​the matter said, adding to global supply amid falling oil prices due to a gradual reopening of the Strait of Hormuz…

OPEC+ approves further oil output increase as Hormuz exports start to recover

LONDON — OPEC+ has agreed a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling due to the gradual reopening of the Strait of Hormuz for oil…

Oil Price Crash: 1 Top Oil Stock to Buy Now

Global oil markets have whipsawed this year amid rising geopolitical tensions. In late February, oil prices soared following U.S. and Israeli military strikes on Iran, sending shockwaves through the market. Brent crude surged as high as $138 per…

Barring a counter to oil damage, Russian economy seen in crisis

The long-range/mid-range Ukrainian strike campaign is continuing to grow, ominously for Russia. Some Ukrainian analysis just released about the damage to Russian oil production for June, if true, shows that if a Russian counter is not in the works…

Carney pivots Canada back to oil and gas in net zero retreat

London | Mark Carney has backed a major new oil pipeline project, as the former net zero champion pivots his country back towards oil and gas. The Canadian prime minister said the 998-kilometre pipeline, costing up to C$44 billion ($45 billion)…

Ethanol-blended petrol is safe to use: oil firm representatives

Representatives of the oil industry in the State have clarified that ethanol-blended petrol was safe to use. Addressing a press conference here, R. Kesavan, former DGM, IndianOil; M. Arun, an IndianOil dealer; and N.S. Krishnamoorthi, an…

Ukraine confirms devastating strike on major oil terminal in Russia's St Petersburg

Ukrainian President Volodymyr Zelensky. President Volodymyr Zelenskyy has confirmed an oil terminal in the Russian city of St Petersburg has been hit by Ukrainian drones. The attack, which took place overnight between Friday and Saturday, is one of…