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 EU cannot break free of Russian oil
In his 2016 book Blood Oil: Tyrants, Violence, and the Rules that Run the World, the American philosopher Leif Wenar argues that oil is a curse in an almost literal sense. Wars had been waged, lives lost, the democracy and development of dozens of…
Trump revives spotlight on California offshore oil project
President Donald Trump reignited his administration's ongoing energy dispute with California in a Truth Social post on Sunday, highlighting a previous executive order designed to restart oil operations tied to the Sable Pipeline and significantly…
OPEC+ To Rollback All 'Voluntary' Oil Production Cuts In September
The logo of the Organization of the Petroleum Exporting Countries (OPEC) at its secretariat building in Vienna, Austria (Photo: Alexander Klein). Oil producers group OPEC+ announced a complete unwinding of its members' 'voluntary' production cuts…
Energy Dept. draws fire for slow pace of Venezuelan oil deals
Nearly eight months after President Trump predicted U.S. companies would 'rapidly rebuild Venezuela's dilapidated oil industry' to boost production, no new petroleum deals have been finalized there with American firms. The U.S. Department of Energy…
Oil Slumps, US Futures Rise on Iran Talks Optimism: Markets Wrap
Oil dropped, US equity futures rose and the dollar slipped after President Donald Trump said fresh US-Iran talks would begin Monday, boosting optimism the two sides could reach a deal to reopen the Strait of Hormuz. S&P 500 contracts climbed in…
Oil prices plunge and Europe's stock markets rally after Trump calls off Iran strikes
Crude oil prices fell sharply and European stock markets rallied on Monday after Donald Trump cancelled planned strikes on Iran to focus on negotiations for a peace deal. Brent crude was trading 5% lower at $83.50 a barrel by mid-morning, after…
Oil Prices Fall Amid Hopes of Possible U.S.-Iran Deal
2337 GMT — Oil prices are lower in early Asian trade amid hopes of a possible U.S.- Iran deal that could ease supply disruptions. President Trump told reporters Sunday that the U.S. will engage in talks with Iran starting Monday afternoon.
U.S. Stock Futures Rise, Oil Falls as U.S. Shifts Toward Diplomacy with Iran
U.S. stock futures rose and oil prices fell in early European trade. Markets responded to the latest U.S. pivot toward diplomacy, as President Trump said he had canceled planned strikes on Iran and that peace talks would resume Monday afternoon.
Oil slumps on hopes of Iran deal, yen firms after intervention
SINGAPORE, Aug 3 (Reuters) - Oil prices skidded and U.S. and European stock futures rose on Monday as hopes of a peace deal in the Middle East grew, while the yen firmed to a three-month high after the U.S. and Japan confirmed joint…
Germany leads European market rise as PMI strengthens, oil prices ease (EUR:USD:)
European stocks, including the DAX's record high, are buoyed by improved manufacturing PMIs and lower oil prices, but gains are limited by weak energy and pharma sectors. Falling bond yields in major European economies and local currency softness…
The Global Oil Cushion Isn't Really Hitting 'Tank Bottoms'
The energy industry's latest panic is that it's about to hit “tank bottoms” — the minimum amount of crude in storage required to keep the conveyor belt that goes from oilfields to refineries humming. As with every financial…
Investors scored on Iran war's oil market boom. Staying long the trade will get trickier
Blowout earnings from Exxon Mobil, Chevron and Valero Energy this past week showed how the U.S.-Iran war created massive short-term profits in oil. ETFs targeting oil refiners and crude oil price volatility were among big winners over the past six…
Asian stocks are mixed as yen jumps against the dollar, while oil prices
Asian shares were mixed Monday after the U.S. and Japan confirmed they had acted to prop up the value of the Japanese yen against the U.S. dollar, causing the yen to rise to its highest level since late last year. Oil prices fell sharply after U.S.
3 Bold Oil Predictions for the Second Half of 2026
The geopolitical conflict in the Middle East has cycled through peace talks and renewed conflict. It appears there won't be an easy solution, which isn't exactly shocking. However, the conflict has material implications for the world, given the…
Chevron CEO warns Iran conflict has created 'very real' threat to global oil supplies as gas prices climb
Chevron CEO Mike Wirth warned of 'very real' dangers for the global oil industry as tensions escalate in Iran and Houthi attacks on Saudi oil facilities fuel concerns over a potential new shipping crisis. His comments come as oil prices climb…
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