Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The U.S. Won't 'Get' Venezuelan Oil
Venezuela's President Nicolas Maduro gestures during a ceremony at Fort Tiuna military base within the presidential inauguration in Caracas on January 10, 2025. (Photo by Juan BARRETO / AFP) (Photo by JUAN BARRETO/AFP via Getty Images) As the U.S.
Oil Steady After Biggest Drop in Three Weeks With Glut in Focus
Oil steadied after the biggest drop in almost three weeks, as traders look to reports later this week for confirmation of a glut. West Texas Intermediate held near $59 a barrel after losing 2% on Monday, while Brent crude closed above $62. The US…
Former Frome councillor jailed for Just Stop Oil protest - BBC News
Image source, Frome Area Green Party A former councillor has been sentenced to more than two years in prison for his role in a Just Stop Oil protest. Michael Dunk was elected to represent the Green Party in the Frome West division of Somerset in…
Oil edges down with Ukraine peace talks, US rate decision in spotlight
OIL prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia's war in Ukraine and a looming decision on U.S. interest rates. Brent crude futures were down…
Oil falls 2% as Iraqi oilfield production restored, Ukraine talks continue
HOUSTON: Oil prices slipped 2% on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine. Brent crude futures were down $1.26, or…
G7's Russian oil tanker ban shows teeth, but bite is in doubt
THE Group of Seven's or G7's proposed plan to bar tankers from hauling Russian oil ups the ante in the West's economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting…
Oil Prices Fall; Ukraine-Russia Peace Talks, Fed Meeting in Focus
0126 GMT — Oil prices fall slightly in Asian trade. Investors are monitoring ongoing talks to end the Ukraine-Russia war ahead of an expected Federal Reserve rate cut this week, says UOB's global economics and markets research team in a…
Oil-Dri: Fiscal Q1 Earnings Snapshot
CHICAGO (AP) — CHICAGO (AP) — Oil-Dri Corp. of America (ODC) on Monday reported profit of $15.5 million in its fiscal first quarter. The Chicago-based company said it had net income of $1.06 per share. The maker of products for soil…
Northern Iraq's Oil Begins Flowing to the United States Again as Pipeline Reopens
In a important shift impacting the global energy landscape, crude oil shipments from Northern Iraq have begun reaching the United States following the reactivation of a crucial pipeline. This development marks a pivotal moment not only for Iraqi…
Glue strong enough to tow a car made from used cooking oil
Scientists have converted waste cooking oil into various recyclable plastics with exceptional strength — and some were even durable enough to tow a car. Turning nonedible waste into useful polymers is a sustainable way to create new…
Oil Reclaims Key Levels, Forcing Shorts To Blink
WTI moved back above its 50-day moving average Friday and is fighting to hold above $60 this morning. A market that spent weeks obsessing over punishing oversupply is now being forced to respect a technical line that encourages short covering…
Oil eases with market focus on U.S. rate outlook and geopolitical risk (CL1:COM:Commodity)
Oil prices changed course to drop more than 1% on Monday as investors closely watched ongoing talks to end the war in Ukraine, while focus primarily remains on an expected U.S. Federal Reserve interest rate cut later this week.
Meet the TikTok stars demanding oil companies clean up their mess
Get your news from a source that's not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily. Hawk Dunlap isn't used to being cold. On a gray day last January when I visited him in West Texas to tour abandoned oil wells…
Oil hovers near 2-week highs on expected US interest rate cut, geopolitical risk
SINGAPORE: Oil prices hovered at two-week highs on Monday as investors expect a likely U.S. Federal Reserve interest rate cut this week to lift economic growth and energy demand, while monitoring geopolitical risk that threatens Russian and…
Russia's Vital Oil Trade With India Is Down, But Not Out
By Rakesh Sharma and Weilun Soon (Bloomberg) — India's imports of Russian crude are expected to plunge to a near four-year low early next year, after months of US pressure. As workarounds emerge and the Kremlin cranks up its own charm…
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