Oil Industry News

Oil Falls on Possible Technical Correction

2349 GMT — Oil falls in the early morning Asian session on a possible technical correction after WTI and Brent settled 2.9% and 2.8% higher, respectively, on Friday. Also, oil prices are likely to decline as soon as recent production outages…

Iran Is Selling More Oil but Making Less Money

Low oil prices no threat to deficit goals

PETALING JAYA: The current low crude oil price, due to the oversupply in the global energy market, will not derail Malaysia's fiscal deficit target for 2026 and beyond, economists say. They attributed this to the government's reduced dependence on…

Cathy Freeman and Midnight Oil drummer among Australia Day top honours

* 680 people received awards in the general division of the Order of Australia * 10 appointed as Companions (AC) of the Order of Australia * 38 Officers (AO) of the Order of Australia * 160 Members (AM) of the Order of Australia * 472 Medals (OAM)…

Oil holds onto gains as Iran keeps investors on edge

SINGAPORE: Oil prices extended gains on Monday after climbing more than 2% in the previous session, as tensions between the U.S. and Iran kept investors on edge even after Kazakhstan's main export pipeline resumed full operations. Brent crude…

Vitol and Trafigura: Traders at the Heart of Trump's Venezuela Oil Grab

President Donald Trump has portrayed his takeover of Venezuela's oil sales as a victory for America, but when his administration wanted to sell several billion dollars' worth of the fuel quickly, the experts it turned to were a couple of foreign…

S-Oil turns to profits in Q4 on weakening Korean won

S-Oil, Korea's third-largest refiner by sales, said Monday it turned to net profit in the fourth quarter on a weakening Korean won. Its fourth-quarter net profit reached 265 billion won ($183 million) for the October-December period, turning from a…

The AI Factor Behind Trump's Power Play On China's Oil Suppliers

Authored by James Gorrie via The Epoch Times, Why is it so important to the Trump administration to take control of Venezuela and encourage the people of Iran to overthrow the Islamic regime? The link between the two is obviously oil. Of course…

If elected, the Parti Québécois would not necessarily oppose new gas or oil pipelines

Email Address: I agree to the Terms and Conditions, Cookie and Privacy Policies, and CASL agreement. Already have an account? Log in here - To continue reading, please subscribe: Enjoy unlimited reading on winnipegfreepress.com Read the E-Edition…

'A fraudulent scheme': New Mexico sues Texas oil companies for walking away from leaking wells

This story was originally co-published by ProPublica and Capital & Main. The state of New Mexico is accusing three Texas oil executives of orchestrating “a fraudulent scheme” to pocket revenue from hundreds of oil and gas wells in New…

Michigan Is Suing Oil Companies For 'Suppressing' EVs

Michigan Attorney General Dana Nessel filed a federal antitrust lawsuit accusing major oil companies and an industry group of colluding to 'suppress' renewable energy and electric vehicle competition. The suit names BP, Chevron, Exxon, Shell, and…

Martha Stewart Says This Is the Only Olive Oil She Uses at Home - Now I Swear By It Too

We love so much of Martha Stewart's advice around the home and kitchen. It's hard not to, when she's a bona fide superstar entrepreneur and an expert at so many things. So, I was thrilled when I got the chance to sit in on a 'Fireside Chat' between…

Oil rises further as IEA predicts surplus in Q1 - The Nation Newspaper

WTI crude oil futures rose more than two per cent to about $60.8 per barrel on Friday, extending gains for a fifth straight week supported by geopolitical and supply risks. The move followed renewed warnings from US President Donald Trump toward…

Reliance stays away from Russian oil, public sector firms lap it up

Reliance Industries Ltd, India's biggest buyer of Russian crude oil, has not bought any barrels from Kremlin in January so far, while state-run refiners have stepped up imports prompted by discounts hitting some $7 per barrel, almost triple the…

South Korea's S-Oil profit surges, says first-quarter refining margins to remain robust

26 Jan 2026 08:32AM (Updated: 26 Jan 2026 09:23AM) SEOUL, Jan 26: South Korea's S-Oil said on Monday it had logged a 91 per cent surge in fourth-quarter operating profit and expects first-quarter refining margins to remain robust due to steady…