Oil Industry News
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'It's all fear and headlines': energy traders race to keep pace with volatile oil markets
On the weekend that US-Israeli drones first began to rain down on Tehran, energy traders across the world's major financial centres began to redraw their strategies. When they returned to their trading desks on that March Monday morning, they found…
OPEC nations agree to adjust oil production: What to know
With gas prices climbing across much of the world and the Iran war continuing to disrupt global energy flows, the eight countries who are a part of the Organization of the Petroleum Exporting Countries (OPEC) met on Sunday to implement a new round…
Iranian drone strikes hit Kuwait's oil infrastructure before Opec+ supply talks
Iranian drones have struck Kuwait's oil infrastructure, causing “severe material damage” that threatens to further disrupt oil supplies already hit by the US-Israel war on Iran. The drone strikes on Sunday came hours before members of…
Swans free of oil after spill in Cleethorpes park
Emma PetrieEast Yorkshire and Lincolnshire A wildlife rescue says it has 'stepped back' from attempting to capture two swans found covered in oil at a Lincolnshire country park. A spill affecting part of the lake at Cleethorpes Country Park was…
Watch OPEC+ Plans Symbolic Oil Quota Hike for May
OPEC+ Plans Symbolic Oil Quota Hike for May Bloomberg News Equities Reporter Natalia Kniazhevich joins Joe Mathieu and Christina Ruffini on Bloomberg This Weekend to discuss the latest impact the war in Iran is having on the energy markets. Watch…
John Constable's oil study a major find, says Suffolk historian
The discovery of an oil study by John Constable that could sell for about £350,000 at auction has been described as 'very significant' by a historian. Constable's practice painting for his 1826 artwork The Cornfield will be sold at auction on…
US Airman Rescue, Trump Threats, OPEC+ Symbolic Oil Hike, More
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
India turns to 'trusted friend' Russia for oil supply as Iran war energises ties
As Russia comes to India 's aid amid the global energy crisis, a familiar mantra has resurfaced among officials and political analysts – that Moscow is New Delhi's “all weather-friend”. Such a stance is anchored by deep…
Iran-Israel war: OPEC+ hikes oil production quotas, issues warning
The OPEC+ oil cartel agreed on Sunday (April 5, 2026) to again increase oil production quotas, while warning that repairing energy facilities, such as those damaged in the West Asia war, is 'costly and takes a long time'. For the second month in a…
Iran reopens Strait of Hormuz to Iraqi oil shipments: FT
Iran has signaled a partial easing of restrictions in the Strait of Hormuz, allowing Iraqi oil shipments to pass through the vital corridor after weeks of disruption that rattled global energy markets, the Financial Times reported Sunday.
Ukraine war briefing: Slovakia PM calls on EU to lift sanctions on Russian oil and gas
US envoys Steve Witkoff and Jared Kushner could travel to Kyiv in April, the Ukrainian president's top aide Kyrylo Budanov has said, amid efforts to revive peace talks with Russia which stalled after the outbreak of war in the Gulf.
OPEC+ agrees to boost oil output when Strait of Hormuz reopens
OPEC+ agreed on Sunday to raise its oil output quotas by 206,000 barrels per day for May, a modest rise that will largely exist on paper as its key members are unable to raise production due to the U.S.-Israeli war with Iran. The war has…
OPEC+ agrees to hike oil output, warns of slow recovery after attacks
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to increase oil output quotas by 206,000 barrels per day for May, a rise that is largely symbolic as some of its key members are unable to raise production due to the…
Vanguard Says It Would Take Oil at $150 to Trigger a U.S. Recession. Here Is Where We Are Now and What Comes Next.
Oil has always been a crucial energy source for industrialized economies, and as oil prices surge, it can have a domino effect on other areas of the economy. Consumers are already paying more at the pump, with the national average gas price…
Ukrainian Strike Damages Central Russian Oil Refinery, Baltic Port Oil Facility
Ukrainian drone attacks have damaged an oil refinery in Russia's Nizhny Novgorod region and oil transportation infrastructure near the Baltic Sea port of Primorsk, regional authorities said Sunday. A total of 87 drones were shut down over Russia…
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