Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Palm oil industry to remain stable in 2026, focusing on R&D, yield improvement - Johari
BANGI: Malaysia's palm oil industry is expected to remain stable and competitive next year, driven by continued emphasis on research and development (R&D), yield improvements and sustainable practices in line with global market requirements, said…
Venezuela's Oil Is a Focus of Trump's Campaign Against Maduro
The Nobel Peace Prize winner made her pitch by live video to a business conference in Miami attended by American executives and politicians, including President Trump. “I am talking about a $1.7 trillion opportunity,” María…
FTSE 100 dips as BP and Shell fall amid oil slide
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The FTSE 100 fell on Tuesday, weighed down by falls in…
Russia Oil Prices Hit Lowest Since War Began on Western Pressure
Russian crude prices are at their lowest since the war in Ukraine began, as sanctions deepen the discounts the nation's oil industry needs to offer and benchmark futures tumble. On average, Russian oil exporters are receiving just over $40 a barrel…
Maduro speaks out on US oil tanker 'theft'
Venezuela's President Nicolás Maduro has accused the United States of “kidnapping” crew members after the seizure of an oil tanker, calling the act a threat not only to his country, but to global trade and respect for…
Jersey prison keeps oil boilers due to electricity limits - BBC News
The oil-fired boilers that run the heating at La Moye Prison cannot be replaced with an electrically-powered system due to limitations, a Freedom of Information (FOI) request has found. Justice and Home Affairs (JHA) said it wanted to replace the…
Oil Falls Amid Prospects of Russia-Ukraine Peace Deal
0115 GMT — Oil falls in Asian trade amid prospects of a Russia-Ukraine peace deal. The U.S. pledged to protect Ukraine from any future Russian attack, U.S. officials said, offering to support European security guarantees. Ukrainian President…
US Oil Futures Drop Below $55 a Barrel for First Time Since 2021
West Texas Intermediate oil fell below $55 a barrel for the first time since February 2021, the latest sign that crude supplies are outpacing demand as the market braces for a large surplus. Earlier in the session, global benchmark Brent fell below…
Ghanaian woman CEO secures historic offshore oil block in Guyana
Ghanaian-owned Cybele Energy has made history by securing a shallow-water offshore oil block in Guyana through a landmark Production Sharing Agreement (PSA) with the Government of Guyana. The deal marks the first time an African-owned company has…
EU imposes sanctions on oil traders with links to Russia's shipping network
The European Union adopted fresh sanctions against Russian oil interests on Monday, targeting traders Murtaza Lakhani and Etibar Eyyub for helping Moscow to circumvent Western sanctions on crude exports that help to fund Russia's war in Ukraine.
FTSE 100 dips as BP and Shell fall amid oil slide
The FTSE 100 fell on Tuesday, weighed down by falls in defence and oil stocks, and after mixed economic data in the UK and US. “A sell-off in the oil market served to pull down the FTSE 100, exacerbated by profit taking in defence…
Oil Holds Near Lowest Level Since 2021 on Ukraine Peace Hopes, Looming Oversupply
UK fuel retailers urged to pass on savings as oil prices fall below $60 a barrel
Fuel retailers are under pressure to cut their pump prices after oil prices fell below $60 (£45) a barrel for the first time in more than seven months on hopes of a Russia-Ukraine peace deal. The price of a barrel of Brent crude dropped by…
US oil and gas industry sets production records in November, led by Texas
(The Center Square) – The U.S. oil and natural gas industry set oil and natural gas production records in November. Crude oil output reached an estimated 5.9 million barrels per day in November, the highest level ever recorded in U.S.
Oil prices tumble to lowest since May, on pace for biggest annual decline in 7 years
The U.S. benchmark has lost about 22% this year for its worst performance since 2018. The oil market is under pressure this year as OPEC+ members have rapidly ramped up production after years of output cuts. Investors are also pricing in lower…
Receive a Daily briefing on Oil Industry News
Get Started