Oil Industry News

US Sanctions Oil Tankers, Companies With Links to Venezuela

The Trump administration added oil companies and tankers with ties to Venezuela to its list of sanctioned vessels, the latest effort from the federal government to exert economic pressure on the Nicolas Maduro's regime. The Treasury Department's…

Trump administration ramps up sanctions targeting Venezuela oil trade

President Trump's administration is ramping up pressure against Venezuela's oil trade, sanctioning four companies operating in the country's oil industry along with four tankers connected to the firms. The Treasury Department said Wednesday it…

U.S. Crude Oil Inventories Decline Amid Lower Imports

Oil Edges Lower; Near-Term Gains Likely Limited

0135 GMT — Oil edges lower in early Asian trading. The broad geopolitical instability in the Middle East and the Russia-Ukraine conflict typically would sustain a risk premium on crude oil prices, but the market's near-term gains are limited…

Venezuela Oil Output Slows 25% in Orinoco Belt Under US Pressure

Venezuela's output from its richest source of petroleum deposits is decreasing as US forces in the Caribbean limit exports and the threat of land strikes further pressures Nicolás Maduro's regime. Oil production in the Orinoco Belt fell to…

Oil barrels toward its worst annual performance since the pandemic as Russia feels the pain

Oil prices are on track for their steepest annual drop since the Covid-era crash in 2020, battered by fears of a deepening supply glut — and compounding economic pressure on Russia as sanctions and discounts bite harder. US benchmark West…

MMEA detains oil tanker for lack of anchoring permit

Nation PETALING JAYA: An oil tanker operating in Malaysian waters has been detained by the Selangor Malaysian Maritime Enforcement Agency (MMEA) after the captain failed to present the necessary anchoring permissions. Selangor MMEA director…

U.S. Strikes Against Venezuela: Trump 'Wants the Oil' as Grassroots Resist 'Economic Asphyxiation'

AMY GOODMAN: At least two oil tankers have reportedly arrived in Venezuela in recent days, with other vessels navigating toward the Venezuelan coast, despite the Trump administration's blockade. Two other tankers approaching Venezuela are not under…

Oil slips as Brent heads for longest stretch of annual losses in 2025

SINGAPORE: Oil prices slipped more than 10% in 2025, with Brent heading for its longest stretch of annual losses ever, as supply outpaced demand in a year marked by wars, higher tariffs ‌and OPEC+ output and sanctions on Russia, Iran and…

US targets crude oil tankers, firms in new Venezuela-related sanctions, Treasury website shows

World WASHINGTON, Dec 31 (Reuters) - ‌The United States on Wednesday imposed sanctions on ‌four companies it said were operating in ‌Venezuela's oil sector as well as associated oil tankers, as President Donald Trump's…

Oil Heads for Deepest Annual Loss Since 2020 on Surplus Concerns

Oil headed for its deepest annual loss since the pandemic in 2020, with prices undermined by concerns about a punishing surplus that's set to dominate market sentiment and trading into the new year. US benchmark West Texas Intermediate was below…

Oil Tanker Pursued by the U.S. Appears to Claim Russian Protection

Oil Prices Edged Higher On Geopolitics And Supply Concerns, Bulls Remain Cautious

Oil prices edged higher for a second day as markets eyed geopolitical risks as a potential catalyst. Traders are worried about rising tensions in the Middle East after President Trump threatened a major strike on Iran if it tries to rebuild its…

2025: The Year Big Oil's Investment In Trump Paid Off

As we slouch towards 2026 to see what horrors a second year of Trump bring (in general, but specifically in terms of climate and energy), we're looking back at what we wrote two days after the election about where we thought climate policy would go…

Oil Heads For Worst Annual Loss Since COVID As US Crude Production Hits Record High

Oil futures are gaining in early U.S. trade, but on track to end the year substantially lower. As Dow Jones reports, the unwinding of OPEC+ output cuts, along with higher non-OPEC production, fueled oversupply concerns in 2025, while U.S. sanctions…