Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump is taking a stake in Venezuela's oil industry and this crony is cashing in
After the ouster of Venezuelan dictator Nicolás Maduro, President Donald Trump promised to make the South American nation 'prosperous again.' Eight months later, we're getting a clear picture of how the Trump administration hopes to achieve…
Five Japanese oil distributors admit to forming price cartel
Five Japanese oil distributors admitted to forming a price cartel for gas oil sold to transport and other companies in Tokyo, at the first hearing of their trial at Tokyo District Court on Thursday. East Japan Usami and Kyoei Sekiyu of Tokyo, Eneos…
The US and Venezuela: a century-old relationship drenched in oil
Written in the middle of the last century, the US Department of State memo conveys its message in a curt and undiplomatically honest tone: the glue that binds Washington to Caracas is, and is always likely to be, oil. “All US policies toward…
Who is Alejandro Betancourt, the colourful oil baron behind US-Venezuela oil deal?
Juan Francisco Alonso BBC News Mundo President Donald Trump has called the deal granting the US control of strategic Venezuelan oil fields 'the biggest in history'. North American Blue Energy Partners (Nabep), a company little known outside the…
Who is Alejandro Betancourt, the colourful oil baron behind US-Venezuela oil deal?
President Donald Trump has called the deal granting the US control of strategic Venezuelan oil fields 'the biggest in history'. North American Blue Energy Partners (Nabep), a company little known outside the South American country, will oversee the…
U.S. oil giant Chevron confirms it will expand operations in Venezuela
Chevron, the second-largest U.S. oil company, has had a presence in Venezuela since 1923. 'President Trump's mission in Venezuela is straightforward. The mission is to bring peace, freedom, opportunity and prosperity to the people of Venezuela,'…
Venezuelans' pride is bruised by deal to give US one-fifth of their oil reserves
Nothing has shaped what it means to be Venezuelan today more than oil. For more than 100 years, in good times and bad, Venezuelans' identity has been built around the belief that their country's bountiful oil resources belong to the people, not a…
U.S. oil giant Chevron confirms it will expand operations in Venezuela
Oil giant Chevron confirmed that it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron, the only U.S. oil company…
Oil Futures Fall on Likely Technical Correction
2336 GMT — Oil futures fall in early Asian trade on a likely technical correction after the futures rose for a third consecutive session on Wednesday. However, losses may be limited by ongoing worries over a further escalation in strikes…
Polymarket Launches Perpetual Oil Futures in 24/7 Trading Push
Polymarket has launched perpetual futures contracts tied to oil, stepping into a market that rival Kalshi Inc. is also seeking to enter as trading venues compete to offer round-the-clock access to the commodity. The company announced the launch…
Futures Flat As Yields Ignore Oil Meltup
Futures are flats with Tech in line and small caps lagging even as bond yields dip 1bp across the curve, ignoring the continued rise in oil. In a quiet session ahead of tomorrow's jobs report, Japan remains the standout, with the yen strengthening…
Tourmaline Oil Corp. stock falls Wednesday, underperforms market
Shares of Tourmaline Oil Corp. TOU slipped 1.25% to C$63.43 Wednesday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.74% to 36,091.61. Tourmaline Oil…
Your ETF of the Moment: Riding the Wild, War-Fueled Oil Market
Listen and subscribe to Trillions on Apple, Spotify, iHeart and the Bloomberg Terminal. Oil has been one of the wildest trades of the year, surging and retreating as the US-Israel war with Iran — and President Donald Trump's struggle to find…
Chevron plans to double its Venezuela oil production
Chevron announced early Wednesday that it has reached an agreement to expand its oil production in Venezuela. © AP Photo/Rogelio V. Solis, File The company said the deal would more than double its current oil production in Venezuela, bringing…
What does Trump's oil deal mean for the future of Venezuela?
President Donald Trump last week announced the United States is obtaining rights to 65 million barrels of Venezuelan oil reserves. The agreement was made under the auspices of unelected President Delcy Rodríguez, who owes her position to the…
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