Oil Industry News

Oil Edges Lower on OPEC Increase, Dollar Steady: Markets Wrap

Oil opened lower as energy flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Traders were also focused on the Korean won's first day of 24-hour trading. S&P 500 futures held Friday's gain after US markets were shut…

Oil, gas tankers cross Hormuz via Oman-side route after U-turns

Oil and gas shipping along a U.S.-protected corridor in the Strait of Hormuz showed signs of recovering Sunday, a day after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor. Six oil and gas freighters were…

Diamondback Energy's (FANG) Viper Energy Completes Acquisition of Riverbend Oil & Gas IX Assets

Diamondback Energy Inc. (NASDAQ: FANG) is one of the 10 Most Undervalued NASDAQ Stocks to Buy Right Now. On July 1, Viper Energy, a subsidiary of Diamondback Energy, announced the completion of its acquisition of Riverbend Oil & Gas IX, LLC. The…

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…

7 OPEC+ countries agree to expand monthly oil production modestly as prices slide

NEW YORK (AP) — A handful of countries in the OPEC+ oil-producing alliance plan to increase their outputs modestly next month, which would bring more oil online after fuel prices have fallen to levels not seen since before the U.S. and…

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…

Trump-Zelenskyy Set to Meet at NATO Summit, Oil Drops on OPEC Increase, More

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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…

ASX to fall amid AI jitters, oil drops

Australian shares expected to fall slightly after rallying last week following strong gains by gold miners. Futures on Monday are pointing to a slide of 0.4 per cent at the opening bell and the Australian dollar is trading higher around 69.38 US…

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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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 Another Oil Output Increase As Hormuz Exports Start To Recover

OPEC+ 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 exports.