Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Shares Rise as Mideast Tensions Boost Oil -- Energy Roundup
Shares of companies in the energy sector rose as oil prices rallied and the dispute over the Strait of Hormuz went into the weekend without a clear path for peace. The U.S. struck multiple bridges in and around Bandar Abbas, Iran on Thursday in an…
How Jeremy Jackson advanced operational standards in oil and gas
Opinions expressed by Digital Journal contributors are their own. Jeremy Jackson stood at the edge of the PBI International operations yard just after dawn, the sound of machinery matching the movement of a team preparing for another high-output…
Oil shock: how China influences global markets
Energy prices rose sharply this week as Iran moved to close the Strait of Hormuz with more ship attacks and the U.S. military resumed its daily strikes on Iranian targets. Months of disruption to the most important waterway for crude oil trade…
Consumer Stocks Fall As Oil Prices Rally -- Consumer Roundup
Stocks in the consumer sector were mostly lower even after the University of Michigan said a preliminary reading showed consumer sentiment improving more than expected. A rebound in fuel prices is seen pressuring retail spending. Walmart is…
Texas job growth continued in June, oil and gas industry showing signs of fluctuation
(The Center Square) – Texas' job growth continued last month in most sectors with the oil and natural gas industry showing signs of fluctuation. Texas' unemployment rate was also higher last month and higher than the national rate. Key…
ConocoPhillips to Buy 42% Stake in BP's Iraq Kirkuk Oil Venture
ConocoPhillips has agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited from BP, marking its entry into the redevelopment of some of Iraq's largest producing oil fields and expanding its exposure to long-life, low-cost…
Oil Market Can't Live Without Hormuz Barrels for Long
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Alex Longley looks at how oil markets are weathering the latest developments in the Strait of Hormuz. The Strait of Hormuz…
Renewed Middle East Conflict To Test Fragile Oil Market
Drawdowns of inventories leave oil market more vulnerable to shocks. Conflict escalation may be more likely if oil prices remain relatively low. Predicting future path of oil is difficult though due to volatile situation. While it's hard to predict…
US firms sign energy and other deals with Iraq after Trump touts its oil
U.S. firms signed several oil-related and other deals with Iraq on Friday, days after President Trump said the two sides would be “ doing a lot of deals ” because of the Middle Eastern nation's oil. Among the U.S. companies that…
US welcomes Iraq-Syria oil pipeline bypassing Strait of Hormuz
The United States on Friday backed a new agreement between Iraq and Syria to rehabilitate an oil pipeline that would provide an alternative route for crude exports and reduce reliance on the Strait of Hormuz. “The United States welcomes the…
The sell-off for AI stars worsens, while oil prices keep jumping
NEW YORK — The sell-off for winners of the artificial-intelligence boom deepened Friday and yanked stock markets lower worldwide. Oil prices, meanwhile, continued to jump because of the war with Iran. The S&P 500 fell 1% to finish its first…
The report oil companies are worried about: Climate attribution science
Climate change is being driven largely by the greenhouse gases we've pumped into the atmosphere, which trap more of the Sun's energy there. That added energy increases the odds of extreme events: longer, more intense heat waves and droughts…
Financial Shares Fall as Rising Oil Prices Revive Inflation Fears -- Financials Roundup
Shares in the financial sector slipped as the lack of a clear path for peace in the Middle East curbed risk appetite amid rising inflation fears. Travelers reported surging profits in the second quarter. Net income was up 46%, at $2.21 billion…
US Power Market Protected From Iran Oil Shock, LS Power Says
The US power market is “fairly protected” from elevated global oil prices resulting from the Iran War, the head of power plant operator LS Power LLC says. The country has transitioned away from using oil as a “meaningful…
World stocks fall in semiconductor rout; oil rises on Middle East escalation
By Sinéad Carew and Samuel Indyk NEW YORK/LONDON, July 17 (Reuters) - Share indexes tumbled around the world on Friday, as heavyweight chip stocks plunged for a third consecutive day as investors reduced bets on artificial intelligence, with…
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